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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 16)*
Transcontinental Realty Investors, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.01 Par Value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
893-617-209
------------------------------------------------------------
(CUSIP Number)
Robert A. Waldman
10670 North Central Expressway, Suite 600
Dallas, Texas 75231
(214) 692-4758
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
February 18, 1994
------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box / /.
Check the following box if a fee is being paid with the statement / /. (A fee
is not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
SEC 1746(12-91)
<PAGE> 2
SCHEDULE 13D
CUSIP NO. 893-617-209 PAGE 2 OF 17 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
American Realty Trust, Inc. 54-0697989
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Georgia
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
536,347
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
536,347
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
536,347
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 3
SCHEDULE 13D
CUSIP NO. 893-617-209 PAGE 3 OF 17 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Basic Capital Management, Inc. 75-2261065
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
116,575
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
116,575
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
116,575
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 4
SCHEDULE 13D
CUSIP NO. 893-617-209 PAGE 4 OF 17 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Syntek Asset Management, L.P. 75-2163161
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
17,650
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
17,650
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,650
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 5
SCHEDULE 13D
CUSIP NO. 893-617-209 PAGE 5 OF 17 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Continental Mortgage and Equity Trust 94-2738844
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
53,000
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
53,000
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
53,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 6
SCHEDULE 13D
CUSIP NO. 893-617-209 PAGE 6 OF 17 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Gene E. Phillips Children's Trust 13-6599769
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
31,000
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
31,000
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 7
TRANSCONTINENTAL REALTY INVESTORS, INC.
CUSIP NO. 893 617 209
Item 1. Security and Issuer
Item 1 is hereby amended to read as follows:
This statement relates to the Common Shares, $.01 par value (the
"Shares"), of Transcontinental Realty Investors, Inc. ("TRI"), a Nevada
corporation (the "Corporation"), and amends the amended statement on Schedule
13D filed on December 2, 1993. The principal executive offices of TRI are
located at 10670 North Central Expressway, Suite 600, Dallas, Texas 75231.
Item 2. Identity and Background
Item 2 is hereby amended to read as follows:
This statement is being filed on behalf of Gene E. Phillips
("Phillips"), Basic Capital Management, Inc. ("BCM"), American Realty Trust,
Inc. ("ART"), Continental Mortgage and Equity Trust ("CMET"), Syntek Asset
Management, L.P. ("SAMLP") and the Gene E. Phillips Children's Trust (the "GEP
Trust") (collectively the "Reporting Persons").
Mr. Phillips, BCM, ART, CMET, SAMLP, and the GEP Trust may be deemed
to constitute a "person" within the meaning of Section 13 (d) of the Securities
Exchange Act of 1934, as amended, because Mr. Phillips is a general partner of
Syntek Asset Management, L.P., BCM is beneficials owned by a trust established
for the benefit of Mr. Phillips' children, BCM serves as advisor to TRI and
ART, and Mr. Phillips' son, Ryan T. Phillips, serves as a director of BCM and
ART and is a beneficiary of the GEP Trust.
(I) BCM is a corporation organized and existing under the laws of
the State of Nevada. BCM's principal business activity is the provision of
advisory services for real estate investment trusts. The principal place of
business and principal office of BCM is 10670 North Central Expressway, Suite
600 Dallas, Texas 75231. BCM was known as National Realty Advisors, Inc. until
it changed its name on October 1, 1992.
BCM is owned by Realty Advisors, Inc., a Nevada corporation. Realty
Advisors, Inc. is owned by a trust established for the benefit of the Children
of Gene E. Phillips. The directors and executive officers of BCM are as
follows:
<TABLE>
<CAPTION>
Name Position(s) with BCM
- ---- --------------------
<S> <C>
Oscar W. Cashwell President
</TABLE>
7
<PAGE> 8
<TABLE>
<CAPTION>
Name Position(s) with BCM
- ---- --------------------
<S> <C>
Hamilton P. Schrauff Executive Vice President and Chief Financial Officer
Karl L. Blaha Executive Vice President and Director of Commercial Management
Clifford C. Towns, Jr. Executive Vice President, Finance
Thomas A. Holland Senior Vice President and Chief Accounting Officer
Robert A. Waldman Vice President, Corporate Counsel and Secretary
Drew D. Potera Vice President, Treasurer and Securities Manager
Ryan T. Phillips Director
M. Ned Phillips Director
</TABLE>
Mr. Cashwell's business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Cashwell's present principal occupation is
the President of BCM. Mr. Cashwell is a citizen of the United States of
America.
Mr. Towns' business address is 10670 North Central Expressway, Suite
600, Dallas, Texas 75231. Mr. Towns' present principal occupation is Executive
Vice President of BCM. Mr. Towns is a citizen of the United States of America.
Mr. Schrauff's business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Schrauff's present principal occupation is
Executive Vice President and Chief Financial Officer of BCM. Mr. Schrauff is a
citizen of the United States of America.
Mr. Blaha's business address is 10670 North Central Expressway, Suite
600, Dallas, Texas 75231. Mr. Blaha's present principal occupation is Executive
Vice President - Director of Commercial Management of BCM. Mr. Blaha is a
citizen of the United States of America.
Mr. Holland's business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Holland's present principal occupation is
Senior Vice President and Chief Accounting Officer of BCM. Mr. Holland is a
citizen of the United States of America.
8
<PAGE> 9
Mr. Potera's business address is 10670 North Central Expressway, Suite
600, Dallas, Texas 75231. Mr. Potera's present principal occupation is Vice
President, Treasurer and Securities Manager of BCM. Mr. Potera is a citizen of
the United States of America.
Mr. Waldman's business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Waldman's present principal occupation is
Vice President, Corporate Counsel and Secretary of BCM. Mr. Waldman is a
citizen of the United States of America.
M. Ned Phillips' business address is 264 Rolling Hills Circle,
Gaffney, South Carolina 29340. M. Ned Phillips' present principal occupation is
owner of Phillips Remodeling Co. M. Ned Phillips is a citizen of the United
States of America.
Ryan T. Phillips' business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Ryan T. Phillips' present principal occupation
is an independent real estate investor. Ryan T. Phillips is a citizen of the
United States of America.
(II) CMET is a real estate investment trust organized and existing
under the law of the State of California. CMET's principal business activity is
investments in real estate. The principal place of business and principal
office of CMET is located at 10670 North Central Expressway, Suite 600, Dallas,
Texas 75231.
The following is a list of each executive officer and trustee of CMET:
<TABLE>
<CAPTION>
Name Position(s) with CMET
- ---- ---------------------
<S> <C>
Oscar W. Cashwell President
Hamilton P. Schrauff Executive Vice President and Chief Financial Officer
Karl L. Blaha Executive Vice President and Director of Commercial Management
Thomas A. Holland Senior Vice President and Chief Accounting Officer
Robert A. Waldman Vice President, Secretary and Corporate Counsel
Drew D. Potera Treasurer
Geoffrey C. Etnire Trustee
</TABLE>
9
<PAGE> 10
<TABLE>
<CAPTION>
Name Position(s) with CMET
- ---- ---------------------
<S> <C>
A. Bob Jordan Trustee
Dan Johnston Trustee
Willie K. Davis Trustee
Raymond V.J. Schrag Trustee
Randall K. Gonzalez Trustee
Bennett B. Sims Trustee
Ted P. Stokley Trustee
</TABLE>
Information with respect to Messrs. Cashwell, Potera, Schrauff, Blaha,
Waldman and Holland is disclosed in (I) above.
Mr. Entire's business address is 4900 Hopyard Road, Suite 260,
Pleasanton, California 94588. Mr. Etnire's present principal occupation is an
Attorney. Mr. Etnire is a citizen of the United States of America.
Mr. Stokely's business address is 10670 North Central Expressway,
Suite 640, Dallas, Texas 75231. Mr. Stokely's present principal occupation is
Real Estate Consultant for Eldercare Housing Foundation. Mr. Stokely is a
citizen of the United States of America.
Mr. Johnston's business address is 645 Madison Avenue, Suite 2200, New
York, New York 10022. Mr. Johnston's present principal occupation is an
Attorney. Mr. Johnston is a citizen of the United States of America.
Mr. Jordan's business address is 6051 North Brookline, Suite 119,
Oklahoma City, Oklahoma 73112. Mr. Jordan's present principal occupation is an
Attorney. Mr. Jordan is a citizen of the United States of America.
Mr. Davis' business address is 333 Union Street, Suite 400, Nashville,
Tennessee 37201. Mr. Davis' present principal occupation is Chairman of
Mid-South Financial Corporation. Mr. Davis is a citizen of the United States of
America.
Mr. Schrag's business address is 36 West 44th Street, Suite 1407, New
York, New York 10036. Mr. Schrag's present principal occupation is an Attorney
in New York. Mr. Schrag is a citizen of the United States of America.
10
<PAGE> 11
Mr. Gonzalez's business address is 4331 Alpha Road, Dallas, Texas
75244. Mr. Gonzalez's present principal occupation is Vice President of TMC
Realty Advisors, Inc. Mr. Gonzalez is a citizen of the United States of
America.
Mr. Sims' business address is 529 W. 42nd Street, #8N, New York, New
York 10036. Mr. Sims' present principal occupation is Professor at New York
University. Mr. Sims is a citizen of the United States of America.
(III) The GEP Trust is a trust formed under the laws of Texas for the
benefit of the children of Gene E. Phillips. The trustee of the GEP Trust is
Donald W. Phillips.
Gene E. Phillips' business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Gene E. Phillips' present principal occupation
is Chief Executive Officer of Syntek West, Inc. Gene E. Phillips is a citizen
of the United States of America.
Donald W. Phillips' business address is 10670 North Central
Exepressway, Suite 600, Dallas, Texas 75231. Donald W. Phillips' present
principal occupation is President and owner of Big D Oil Field Equipment Sales.
Donald W. Phillips is a citizen of the United States of America.
(IV) ART is a real estate investment company organized and existing as
a Georgia corporation. ART's principal business activities include investment
in real estate and in other business ventures. The principal place of business
and principal office of ART is located at 10670 North Central Expressway, Suite
600, Dallas, Texas 75231.
The following is a list of each executive officer and director of ART:
<TABLE>
<CAPTION>
Name Position(s) with ART
---- --------------------
<S> <C>
G. Wayne Watts Director
Al Gonzalez Director
Ryan T. Phillips Director
Tilmon Kreiling, Jr. Director
Oscar Cashwell Director
Karl L. Blaha President
</TABLE>
11
<PAGE> 12
<TABLE>
<CAPTION>
Name Position(s) with ART
---- --------------------
<S> <C>
Hamilton P. Schrauff Executive Vice President and Chief Financial Officer
Thomas A. Holland Senior Vice President and Chief Accounting Officer
Robert A. Waldman Secretary and Vice President
Drew D. Potera Treasurer
</TABLE>
Information with respect to Messrs. Blaha, Schrauff, Potera, Holland,
Waldman and Ryan T. Phillips is disclosed in (I) above.
Mr. Watts' business address is P.O. Box 706, Fountain Inn, South
Carolina 29644. Mr. Watts' present principal occupation is Director of
International Operations with Harkness International. Mr. Watts is a citizen of
the United States of America.
Mr. Gonzalez's business address is 5440 Harvest Hill Road, Suite 250,
Dallas, Texas 75230. Mr. Gonzales' present principal occupation is President of
AGE Refining, Inc. Mr. Gonzalez is a citizen of the United States of America.
Mr. Kreiling's business address is 4627 Kelsey Road, Dallas, Texas
75229. Mr. Kreiling's present principal occupation is President of Kreiling
Associates & Co. Mr. Kreiling is a citizen of the United States of America.
(V) SAMLP is a Delaware limited partnership engaged in the business of
investing in real estate and real estate related assets. The principal place of
business and principal office of SAMLP is located at 10670 North Central
Expressway, Suite 600, Dallas, Texas 75231.
SAMLP has no officers or directors. The general partners of SAMLP are
Gene E. Phillips, William S. Friedman and Syntek Asset Management, Inc.
("SAMI"). SAMI is a corporation organized and existing under the laws of the
State of Texas. SAMI's principal business activities include investment in real
estate and in other business ventures. Its principal place of business and
principal office is located 10670 North Central Expressway, Suite 600, Dallas,
Texas 75231.
Information with respect to Mr. Phillips is disclosed in (III) above.
12
<PAGE> 13
Mr. Friedman's business address is 645 Madison Avenue, Suite 2200, New
York, New York 10022. Mr. Friedman's present principal occupation is Chief
Executive Officer of Tarragon Realty Advisors, Inc. Mr. Friedman is a citizen
of the United States of America.
During the last five (5) years, (i) none of the persons enumerated in
(I) through (V) above, as amended, has been convicted in a criminal proceeding
(excluding traffic violations and similar misdemeanors) and (ii) none of such
persons was a party to a civil proceeding of a judicial or administrative body
of competent jurisdiction and as a result of such proceeding was or is subject
to a judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws.
Item 5. Interest in Securities of the Issuer
Item 5 is hereby amended to read as follows:
(a) Share Ownership
The following tables show the Shares owned directly and beneficially
by the Reporting Persons on the date of this statement:
Shares Owned Directly
<TABLE>
<CAPTION>
Number of Percent of
Name Shares Class (1)
- ---- --------- ----------
<S> <C> <C>
BCM 116,575 4.3
CMET 53,000 1.9
ART 536,347 20.0
SAMLP 17,650 0.6
GEP Trust 31,000 1.1
TOTAL 754,572 28.2%
</TABLE>
13
<PAGE> 14
Shares Owned Beneficially
<TABLE>
<CAPTION>
Number of Percent of
Name Shares Class (3)
- ---- --------- ----------
<S> <C> <C>
ART 536,347 20.0%
BCM 116,575 4.3
CMET 53,000 1.9
SAMLP 17,650 0.6
Phillips (2) 17,650 0.6
GEP Trust 31,000 1.1
G. Wayne Watts (3) 536,347 20.0
Al Gonzalez (3) 536,347 20.0
M. Ned Phillips (4) 116,575 4.3
Ryan T. Phillips (3)(4)(5) 683,922 25.5
Tilmon Kreiling, Jr. (3) 536,347 20.0
Oscar Cashwell (3)(4) 652,922 24.4
Total shares beneficially
owned by Reporting Persons 754,572 28.2%
</TABLE>
(1) Percentage calculations are based upon 2,674,053 Shares outstanding at
February 18, 1994. Total and addends may not match due to rounding.
(2) May be deemed to be a beneficial owner of the Shares held directly by
SAMLP by virtue of the relationship to SAMLP described in Item 2, as
herein amended.
(3) May be deemed to be a beneficial owner of the Shares held directly by ART
by virtue of the relationship to ART described in Item 2, as herein
amended.
(4) May be deemed to be the beneficial owner of Shares held directly by BCM by
virtue of the relationship to BCM described in Item 2.
(5) May be deemed to be the beneficial owner of Shares held directly by the
GEP Trust by virtue of the relationship to GEP Trust described in Item 2.
(b) Voting and Dispositive Power
Each of the directors of ART share voting and dispositive power
over the 536,347 Shares owned by ART. Each of the directors of BCM exercise
voting and dispositive power over the 116,575 Shares held by BCM. Each of the
Trustees of CMET share voting and disposition power over the 53,000 Shares held
by CMET. The Trustee of GEP Trust has complete voting and disposition power
over all of the shares owned by GEP Trust.
14
<PAGE> 15
(c) Transactions in Securities
The following table lists the purchase transactions in the Shares
that were effected by the Reporting Persons during the past sixty days:
<TABLE>
<CAPTION>
Reporting Number of Price Type of
Person Date Shares Per Share Transaction
- ------ ---- ------ --------- -----------
<S> <C> <C> <C> <C>
ART 12/20/93 200 $12.75 Open Market
ART 12/21/93 400 $12.75 Open Market
ART 12/22/93 2,000 $12.75 Open Market
ART 1/13/94 300 $12.75 Open Market
ART 1/14/94 500 $12.75 Open Market
BCM 1/14/94 1,000 $12.75 Open Market
BCM 1/17/94 500 $12.75 Open Market
BCM 1/18/94 1,500 $12.75 Open Market
BCM 1/18/94 3,000 $12.75 Open Market
BCM 1/18/94 3,800 $12.75 Open Market
BCM 1/19/94 200 $12.75 Open Market
BCM 1/19/94 100 $12.75 Open Market
BCM 1/20/94 1,900 $12.75 Open Market
BCM 1/21/94 300 $12.75 Open Market
BCM 1/31/94 1,200 $12.75 Open Market
BCM 2/01/94 100 $12.75 Open Market
BCM 2/02/94 400 $12.75 Open Market
BCM 2/02/94 500 $12.75 Open Market
ART 2/02/94 2,000 $ 5.25 Negotiated
Purchase
BCM 2/03/94 900 $12.75 Open Market
BCM 2/04/94 400 $12.75 Open Market
BCM 2/14/94 1,900 $13.75 Open Market
BCM 2/14/94 1,000 $13.75 Open Market
BCM 2/14/94 1,000 $13.75 Open Market
BCM 2/15/94 1,000 $13.75 Open Market
BCM 2/15/94 300 $13.75 Open Market
BCM 2/16/94 1,700 $13.75 Open Market
BCM 2/16/94 300 $13.75 Open Market
BCM 2/17/94 1,700 $13.75 Open Market
BCM 2/17/94 800 $13.75 Open Market
BCM 2/18/94 1,200 $13.75 Open Market
BCM 2/18/94 3,000 $13.75 Open Market
BCM 2/18/94 1,800 $13.75 Open Market
</TABLE>
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of Issuer
Item 6 is hereby amended by deleting Item 6(a) in its entirety and
adding new Item 6(a) which reads as follows:
(a) ART has pledged 10,000 Shares to Addison Securities, Inc., pledged
1,450 Shares to Advest, pledged 32,900 Shares to Alex Brown, pledged 26,750
Shares to Allied Research
15
<PAGE> 16
Services, Inc., pledged 900 Shares to Brown & Company, pledged 10,050 Shares to
CJ Lawrence, Inc., pledged 8,050 Shares to Capital Institutional, Inc., pledged
2,000 Shares to Cowen & Company, pledged 20,096 Shares to Dean Witter Reynolds,
pledged 5,000 Shares to Dillon Read and Company, Inc., pledged 10,000 Shares to
Eppler, Guerin and Turner, Inc., pledged 2,100 Shares to Equico, pledged 2,000
Shares to Fist Alabama, pledged 12,000 Shares to Global Strategies, pledged
28,538 Shares to Goldman Sachs, pledged 24,000 Shares to Gruntal & Co., pledged
12,000 Shares to Hambrecht & Quist, pledged 25,171 Shares to Kemper Securities
Group, Inc., pledged 22,000 Shares to Kennedy Cabot & Company, pledged 39,500
Shares to Kidder Peabody Investor, pledged 10,000 Shares to Kirpatrick Pettis,
pledged 2,000 Shares to Lombrad, pledged 12,500 Shares to Legg Mason, pledged
2,000 Shares to Mabon, pledged 7,000 Shares to Main Street Capital, pledged
15,000 Shares to Montgomery Securities, pledged 14,000 Shares to Mutual
Securities, Inc., pledged 10,000 Shares to NorthPark Securities, Inc., pledged
19,475 Shares to The Ohio Company, pledged 2,500 Shares to Olde Discount Stock
Brokers, pledged 35,000 Shares to Oppenheimer & Company, pledged 2,000 Shares
to Paine Webber, pledged 15,171 Shares to Prudential Bache, pledged 12,625
Shares to Robert Baird, pledged 1,500 Shares to Rodman & Renshaw, pledged
14,900 Shares to Scottsdale Securities, Inc., pledged 50,171 Shares to Shearson
Lehman Hutton and pledged 16,000 Shares to Thomas F. White & Co., Inc. Inc. in
stock margin accounts maintained by it with such brokers.
BCM has pledged 2,000 Shares to Accutrade, pledged 13,625 Shares to
Addison Securities, Inc., pledged 2,500 Shares to Advest, pledged 10,000 Shares
to Alex Brown, pledged 4,700 Shares to Allied Research Service, pledged 3,000
Shares to Brown & Company, pledged 4,000 Shares to CJ Lawrence, Inc., pledged
2,000 shares to Capital Institutional Inc., pledged 2,000 Shares to Cowen &
Company, pledged 3,600 Shares to Dean Witter and Reynolds, pledged 5,000 Shares
to Dillon Read and Company, Inc., pledged 3,000 Shares to Eppler, Guerin and
Turner, Inc., pledged 1,300 Shares to First National Brokerage, pledged 1,000
Shares to Gruntal & Co. pledged 7,000 Shares to HD Vest Financial Services,
pledged 2,300 Shares to Hambrecht & Quist, pledged 5,000 Shares to IDS
Financial Services, Inc., pledged 5,000 Shares to Kemper Securities Groups,
Inc., pledged 4,000 Shares to Kirpatrick Pettis, pledged 2,000 Shares to
Lombard, pledged 5,000 Shares to Legg Mason, pledged 2,000 Shares to Mabon,
pledged 3,800 Shares to NorthPark Securities, Inc., pledged 2,000 Shares to The
Ohio Company, pledged 6,000 Shares to Olde Discount Stock Brokers, pledged
10,950 Shares to Piper Jaffray, Inc., pledged 1,800 Shares to Scottdales
Securities, Inc. and pledged 2,000 Shares to Signet Financial Services, Inc. in
stock margin accounts maintained by it with such brokers.
CMET has pledged 10,000 Shares to Goldman Sach & Co., pledged 11,000
Shares to Neuberger & Berman and pledged 32,000 Shares to Scottsdale
Securities, Inc. in stock margin accounts maintained by it with such brokers.
16
<PAGE> 17
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in the statement is true, complete and
correct.
Dated: March 1, 1994
SYNTEK ASSET MANAGEMENT, L.P.
By: Syntek Asset Management, Inc.
Managing General Partner
By: /s/ OSCAR W. CASHWELL
Oscar W. Cashwell
President
BASIC CAPITAL MANAGEMENT, INC.
By: /s/ OSCAR W. CASHWELL
Oscar W. Cashwell
President
AMERICAN REALTY TRUST, INC.
By: /s/ KARL L. BLAHA
Karl L. Blaha
President
GENE E. PHILLIPS CHILDREN'S TRUST
By: /s/ DONALD W. PHILLIPS
Donald W. Phillips
Trustee
CONTINENTAL MORTGAGE AND EQUITY TRUST
By: /s/ OSCAR W. CASHWELL
Oscar W. Cashwell
President
17
