<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 22)*
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)
March 17, 1995
-----------------------------------
(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).
<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
690,047
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
690,047
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
690,047
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
25.8%
- --------------------------------------------------------------------------------
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
139,175
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
139,175
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
139,175
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.2%
- --------------------------------------------------------------------------------
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)
0.7%
- --------------------------------------------------------------------------------
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)
2.0%
- --------------------------------------------------------------------------------
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)
1.2%
- --------------------------------------------------------------------------------
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 January 27, 1995. 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 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").
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 Gene E. Phillips is a general partner of Syntek Asset
Management, L.P., BCM is beneficially owned by a trust established for the
benefit of Mr. Phillips' children, BCM serves as advisor to CMET 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 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
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
</TABLE>
7
<PAGE> 8
<TABLE>
<CAPTION>
Name Position(s) with BCM
---- --------------------
<S> <C>
Stephen R. Young Executive Vice President and
Director of Acquisitions
Randall M. Paulson Executive Vice President
Bruce A. Endendyk Executive Vice President
Thomas A. Holland Senior Vice President and
Chief Accounting Officer
Robert A. Waldman Senior Vice President, General
Counsel and Secretary
Drew D. Potera Vice President, Treasurer
and Securities Manager
Ryan T. 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. 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. 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. Young's business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Young's present principal occupation is
Executive Vice President - Director of Acquisitions of BCM. Mr. Young is a
citizen of the United States of America.
Mr. Paulson's business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Paulson is Executive Vice President of
BCM. Mr. Paulson is a citizen of the United States of America.
Mr. Endendyk's business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Endendyk is Executive Vice President of
BCM. Mr. Endendyk is a citizen of the United States of America.
8
<PAGE> 9
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.
Mr. Waldman's business address is 10670 North Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Waldman's present principal occupation
is Senior Vice President, General Counsel and Secretary of BCM. Mr. Waldman is
a citizen of the United States of America.
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.
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
Randall M. Paulson Executive Vice President
Bruce A. Endendyk Executive Vice President
Thomas A. Holland Senior Vice President and
Chief Accounting Officer
Robert A. Waldman Senior Vice President, Secretary
and General Counsel
Drew D. Potera Treasurer
Geoffrey C. Etnire Trustee
</TABLE>
9
<PAGE> 10
<TABLE>
<CAPTION>
Name Position(s) with CMET
---- ---------------------
<S> <C>
Bennett B. Sims Trustee
Ted P. Stokley Trustee
Martin L. White Trustee
John P. Parsons Trustee
Harold Furst Trustee
Edward G. Zampa Trustee
</TABLE>
Information with respect to Messrs. Cashwell, Potera, Schrauff,
Blaha, Paulson, Endendyk, Waldman and Holland is disclosed in (I) above.
Mr. Etnire'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. Sims' business address is 62 West 91st Street, Apt. #3, New
York, New York 10024. Mr. Sims' present principal occupation is Professor at
New York University. Mr. Sims is a citizen of the United States of America.
Mr. White's business address is 8051 Coach Drive, Oakland,
California 94605. Mr. White is Chairman and Chief Executive Officer of
Community Based Developers, Inc. Mr. White is a citizen of the United States
of America.
Mr. Parsons' business address is 73155 Deer Grass Drive, Palm
Desert, California 92262. Mr. Parsons' is Chairman and Chief Executive Officer
of Pierpont Corporation. Mr. Parsons is a citizen of the United States of
America.
Mr. Furst's business address is Two Bryant Street, San Francisco,
California 94105. Mr. Furst is Executive Vice President of SONY Signatures.
Mr. Furst is an independent business consultant with emphasis on economic and
financial matters. Mr. Furst is a citizen of the United States of America.
10
<PAGE> 11
Mr. Zampa's business address is Number Fifty Osgood Place, Suite
110, San Francisco, California 94133. Mr. Zampa is General Partner of Edward
G. Zampa and Company. Mr. Zampa 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 Mr. Phillips' brother, 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
Expressway, Suite 410, 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
Dale A. Crenwelge Director
Oscar Cashwell Director
Karl L. Blaha President
Hamilton P. Schrauff Executive Vice President and
Chief Financial Officer
Randall M. Paulson Executive Vice President
Bruce A. Endendyk Executive Vice President
</TABLE>
11
<PAGE> 12
<TABLE>
<CAPTION>
Name Position(s) with ART
---- --------------------
<S> <C>
Thomas A. Holland Senior Vice President and
Chief Accounting Officer
Robert A. Waldman Senior Vice President,
Secretary and General Counsel
Drew D. Potera Treasurer
</TABLE>
Information with respect to Messrs. Cashwell, Blaha, Schrauff,
Potera, Holland, Paulson, Endendyk, Waldman and Ryan T. Phillips is disclosed
in (I) above.
Mr. Watts' business address is P.O. Box 27081, Greenville, South
Carolina 29616. Mr. Watts' present principal occupation is President of
Palmetto Industries. Mr. Watts is a citizen of the United States of America.
Mr. Gonzalez' business address is 5440 Harvest Hill Road, Suite
250, Dallas, Texas 75230. Mr. Gonzalez' present principal occupation is
President of AGE Refining, Inc. Mr. Gonzalez is a citizen of the United States
of America.
Mr. Crenwelge's business address is 10208 Echo Ridge Drive, Austin,
Texas 78750. Mr. Crenwelge is President of Longhorn Consultants Commercial
Real Estate Group, Inc. and Crenwelge Commercial Consultants, Inc. Mr.
Crenwelge 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 and Syntek Asset Management, Inc. ("SAMI"). SAMI is a
corporation organized and existing under the laws of the State of Texas. SAMI
is a wholly-owned subsidiary of BCM. 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.
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
12
<PAGE> 13
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 139,175 5.2%
CMET 53,000 2.0%
ART 690,047 25.8%
SAMLP 17,650 0.7%
GEP Trust 31,000 1.2%
TOTAL 930,872 34.8%
</TABLE>
Shares Owned Beneficially
<TABLE>
<CAPTION>
Number of Percent of
Name Shares Class (1)
- ---- --------- ----------
<S> <C> <C>
ART 690,047 25.8%
BCM 139,175 5.2%
CMET 53,000 2.0%
SAMLP 17,650 0.7%
Gene E. Phillips (2) 17,650 0.7%
GEP Trust 31,000 1.2%
G. Wayne Watts (3) 690,047 25.8%
Al Gonzalez (3) 690,047 25.8%
Ryan Phillips (3)(4)(5) 860,222 32.2%
Dale A. Crenwelge (3) 690,047 25.8%
Oscar W. Cashwell (3)(4) 829,222 31.0%
Total shares beneficially
owned by Reporting Persons 903,872 34.8%
</TABLE>
(1) Percentage calculations are based upon 2,674,850 Shares
outstanding at March 17, 1995. Total and addends may not
match due to rounding.
13
<PAGE> 14
(2) May be deemed to be a beneficial owner of the Shares held
directly by SAMLP by virtue of the relationship to SAMLP as
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 as
described in Item 2, as herein amended.
(4) May be deemed to be a beneficial owner of the Shares held
directly by BCM by virtue of the relationship to BCM as
described in Item 2.
(5) May be deemed to be a beneficial owner of the Shares held
directly by the GEP Trust by virtue of the relationship to the
GEP Trust as described in Item 2.
(b) Voting and Dispositive Power
Each of the directors of ART share voting and dispositive power over
the 690,047 Shares owned by ART. The director of BCM exercises voting and
dispositive power over the 139,175 Shares held by BCM. Each of the Trustees of
CMET share voting and dispositive power over the 53,000 Shares held by CMET.
The Trustee of GEP Trust has complete voting and dispositive power over all of
the Shares owned by the GEP Trust.
(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 01/30/95 100 $15.00 Open Market
ART 01/30/95 300 $15.00 Open Market
ART 01/31/95 900 $15.00 Open Market
ART 01/31/95 1,000 $15.00 Open Market
ART 02/02/95 200 $15.00 Open Market
ART 02/03/95 800 $15.00 Open Market
ART 02/03/95 100 $15.00 Open Market
ART 02/06/95 200 $15.00 Open Market
ART 02/07/95 700 $15.00 Open Market
ART 02/08/95 400 $15.00 Open Market
ART 02/09/95 500 $15.00 Open Market
ART 02/10/95 600 $15.00 Open Market
ART 02/13/95 400 $15.00 Open Market
ART 02/14/95 400 $15.00 Open Market
ART 02/15/95 600 $15.00 Open Market
ART 02/15/95 500 $15.00 Open Market
ART 02/16/95 100 $15.00 Open Market
ART 02/17/95 100 $15.00 Open Market
ART 02/21/95 400 $15.00 Open Market
ART 02/22/95 200 $15.00 Open Market
</TABLE>
14
<PAGE> 15
<TABLE>
<CAPTION>
Reporting Number of Price Type of
Person Date Shares Per Share Transaction
- --------- ---- ---------- --------- -----------
<S> <C> <C> <C> <C>
ART 02/23/95 200 $15.00 Open Market
BCM 02/24/95 900 $15.00 Open Market
BCM 02/27/95 100 $15.00 Open Market
BCM 02/28/95 100 $15.00 Open Market
BCM 03/01/95 100 $15.00 Open Market
BCM 03/01/95 100 $15.00 Open Market
BCM 03/02/95 800 $15.00 Open Market
ART 03/06/95 600 $15.00 Open Market
ART 03/07/95 400 $15.00 Open Market
BCM 03/07/95 100 $15.00 Open Market
BCM 03/08/95 900 $15.00 Open Market
BCM 03/08/95 700 $15.00 Open Market
BCM 03/09/95 100 $15.00 Open Market
BCM 03/10/95 900 $15.00 Open Market
BCM 03/10/95 1,000 $15.00 Open Market
ART 03/13/95 1,800 $15.00 Open Market
ART 03/13/95 200 $14.875 Open Market
ART 03/13/95 1,000 $15.00 Open Market
BCM 03/13/95 1,000 $15.00 Open Market
ART 03/13/95 1,000 $15.00 Open Market
ART 03/13/95 500 $15.00 Open Market
ART 03/14/95 1,000 $15.00 Open Market
BCM 03/14/95 500 $15.00 Open Market
BCM 03/15/95 500 $15.00 Open Market
ART 03/15/95 100 $15.00 Open Market
ART 03/16/95 100 $15.00 Open Market
ART 03/17/95 800 $15.00 Open Market
ART 03/17/95 200 $15.00 Open Market
ART 03/20/95 300 $15.00 Open Market
ART 03/21/95 500 $15.00 Open Market
ART 03/22/95 1,000 $15.00 Open Market
ART 03/23/95 100 $15.00 Open Market
ART 03/17/95 900 $15.00 Open Market
ART 03/17/95 1,000 $15.00 Open Market
ART 03/17/95 400 $15.00 Open Market
</TABLE>
Item 6. Contracts, Arrangements, Understandings or Relationships with respect
to Securities of the Issuer.
Item 6 is hereby amended to read as follows:
ART has pledged 6,300 shares to Accutrade, pledged 6,250 shares to
Advest, pledged 9,000 shares to Alex Brown (TX), pledged 33,750 shares to
Allied, pledged 3,000 shares to Arnold Securities, pledged 10,000 shares to
Baker & Co., pledged 10,000 shares to Baker & Co., pledged 13,000 shares to
Bidwell, pledged 9,000 shares to Brokerage Svcs Div., pledged 4,900 shares to
Brown & Co., pledged 12,050 shares to C.J. Lawrence, pledged 2,000 shares to
Ceres Securities, pledged 300 shares to Chatfield Dean, pledged 10,000 shares
to Comerica, pledged 10,000 shares to Cowen & Co., pledged 21,096 shares to
Dean Witter (CA), pledged 8,000 shares to Dillon Read, pledged 2,900 shares to
Equitable, pledged 20,000 shares to First Alabama, pledged 3,400 shares to
First
15
<PAGE> 16
Southwest, pledged 12,000 shares to Global Strategies, pledged 28,538 shares to
Goldman Sachs, pledged 12,000 shares to Hambrecht & Quist, pledged 6,000 shares
to Hamilton Investments, pledged 12,000 shares to Hambrecht & Quist, pledged
10,000 shares to Howe Barnes, pledged 10,000 shares to JB Oxford, pledged 1,000
shares to JW Charles, pledged 25,171 shares to Kemper Sec. (CA), pledged 16,100
shares to Kemper Sec. (TX), pledged 12,000 shares to Kirpatrick Pettis, pledged
14,000 shares to Legg Mason (NY), pledged 20,000 shares to Legg Mason (TX),
pledged 9,000 shares to Lehman Brothers, pledged 6,000 shares to Lombard,
pledged 3,700 shares to May Financial, pledged 20,000 shares to McDonald & Co.,
pledged 15,000 shares to Montgomery, pledged 10,000 shares to Morgan Keegan,
pledged 16,000 shares to Mutual Securities, pledged 38,171 shares to
NationsBanc, pledged 1,000 shares to Nationwide Sec., pledged 19,475 shares to
Ohio Co., pledged 13,000 shares to Olde, pledged 25,000 shares to Oppenheimer
(NY), pledged 28,171 shares to Oppenheimer (TX), pledged 4,000 shares to
Pacific Brokerage, pledged 2,000 shares to Paine Webber (NY), pledged 3,000
shares to Paine Webber (TX), pledged 1,000 shares to Piper Jaffray, pledged
22,000 shares to The Principal, pledged 17,000 shares to Quick & Reilly,
pledged 12,625 shares to Robert Baird, pledged 20,400 shares to Rodman &
Renshaw, pledged 2,500 shares to Roney & Co., pledged 1,700 shares to Schramme
Sec., pledged 10,550 shares to Securities of America, pledged 2,000 shares to
Smith Barney, pledged 16,000 shares to Thomas F. White, pledged 6,000 shares to
Tucker Anthony, pledged 4,000 shares to UBS Securities, pledged 7,000 shares to
Wachovia and pledged 8,000 shares to Washington Discount in stock margin
accounts maintained by it with such brokers.
BCM has pledged 3,300 shares to Accutrade, pledged 3,900 shares to
Advest, pledged 4,700 shares to Allied, pledged 2,100 shares to Baker & Co.,
pledged 2,700 shares to Brokerage Svcs Div., pledged 4,000 shares to Brown &
Co., pledged 4,000 shares to C.J. Lawrence, 2,000 shares to Cowen & Co.,
pledged 3,600 shares to Dean Witter (CA), pledged 5,000 shares to Dillon Read,
pledged 1,000 shares to First Alabama, pledged 7,000 shares to H.D. Vest,
pledged 2,300 shares to Hambrecht & Quist, pledged 6,000 shares to IDS
Financial, pledged 5,000 shares to Kemper Sec. (TX), pledged 4,000 shares to
Kirpatrick Pettis, pledged 5,000 shares to Legg Mason (NY), pledged 2,000
shares to Legg Mason (TX), pledged 2,000 shares to Lombard, pledged 1,000
shares to Nationwide Sec., pledged 2,000 shares to Ohio Co., pledged 6,000
shares to Olde, pledged 15,625 shares to Oppenheimer (TX), pledged 10,000
shares to Paine Webber (TX), pledged 10,950 shares to Piper Jaffray, pledged
3,000 shares to The Principal, pledged 2,000 shares to Prudential (PA), pledged
5,000 shares to Rodman & Renshaw, pledged 5,000 shares to Signet, pledged 3,000
shares to Southwest Sec., pledged 3,000 shares to Wachovia and pledged 3,000
shares to Worthen in stock margin accounts maintained by it with such brokers.
CMET has pledged 10,000 shares to Goldman Sachs, pledged 11,000 shares
to Neuberger and pledged 32,000 shares to Prudential (TX) #2 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 this statement is true, complete and
correct.
Dated: April 3, 1995
SYNTEK ASSET MANAGEMENT, L.P.
By: Syntek Asset Management, Inc.
Managing General Partner
By: /s/ Hamilton P. Schrauff
--------------------------------
Hamilton P. Schrauff
Executive Vice President
AMERICAN REALTY TRUST, INC.
By: /s/ Karl L. Blaha
------------------------------
Karl L. Blaha
President
BASIC CAPITAL MANAGEMENT, INC.
By: /s/ Hamilton P. Schrauff
------------------------------
Hamilton P. Schrauff
Executive Vice President
GENE E. PHILLIPS CHILDREN'S TRUST
By: /s/ Donald W. Phillips
------------------------------
Donald W. Phillips
Trustee
CONTINENTAL MORTGAGE AND EQUITY TRUST
By: /s/ Hamilton P. Schraugg
------------------------------
Hamilton P. Schrauff
Executive Vice President
17
