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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. 28)*
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, TX 75231
(214) 692-4758
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
October 25, 1996
-----------------------------------
(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 16 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 1,185,770
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,185,770
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,185,770
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.3%
- --------------------------------------------------------------------------------
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> 3
SCHEDULE 13D
CUSIP NO. 893-617-209 PAGE 3 OF 16 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 335,612
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 335,612
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
335,612
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.6%
- --------------------------------------------------------------------------------
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 16 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 26,475
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 26,475
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
26,475
- --------------------------------------------------------------------------------
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 16 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 79,500
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 79,500
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
79,500
- --------------------------------------------------------------------------------
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 16 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 46,500
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 46,500
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
46,500
- --------------------------------------------------------------------------------
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. ("TCI"), a Nevada
corporation (the "Corporation"), and amends the amended statement on Schedule
13D filed on July 18, 1996. The principal executive offices of TCI 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 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>
Randall M. Paulson President
Oscar W. Cashwell Executive Vice President
Thomas A. Holland Executive Vice President and
Chief Financial Officer
Clifford C. Towns, Jr. Executive Vice President, Finance
Bruce A. Endendyk Executive Vice President
Cooper B. Stuart Executive Vice President
</TABLE>
7
<PAGE> 8
<TABLE>
<CAPTION>
Name Position(s) with BCM
---- --------------------
<S> <C>
Mark W. Branigan Executive Vice President
Lynn W. Humphries Senior Vice President-Commercial Asset
Management
Dan S. Allred Senior Vice President-Land Development
Robert A. Waldman Senior Vice President, General Counsel
and Secretary
Drew D. Potera Vice President, Treasurer and Securities Manager
Ryan T. Phillips Director
Mickey Ned Phillips Director
</TABLE>
Mr. Paulson's business address is 10670 North Central
Expressway, Suite 600, Dallas, Texas 75231. Mr. Paulson's present principal
occupation is President of BCM. Mr. Paulson is a citizen of the United States
of America.
Mr. Cashwell's business address is 10670 North Central
Expressway, Suite 600, Dallas, Texas 75231. Mr. Cashwell's present principal
occupation is Executive Vice President of BCM. Mr. Cashwell 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 Executive Vice President - Chief Financial Officer of BCM. Mr.
Holland 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. Endendyk's business address is 10670 North Central
Expressway, Suite 600, Dallas, Texas 75231. Mr. Endendyk's present principal
occupation is Executive Vice President of BCM. Mr. Endendyk is a citizen of
the United States of America.
Mr. Branigan's business address is 10670 North Central
Expressway, Suite 600, Dallas, Texas 75231. Mr. Branigan's present principal
occupation is Executive Vice President of BCM. Mr. Branigan is a citizen of
the United States of America.
Mr. Humphries' business address is 10670 North Central
Expressway, Suite 600, Dallas, Texas 75231. Mr. Humphries' present principal
occupation is Senior Vice President-Commercial Asset Management of BCM. Mr.
Humphries is a citizen of the United States of America.
8
<PAGE> 9
Mr. Dan S. Allred's business address is 10670 North Central
Expressway, Suite 600, Dallas, Texas 75231. Mr. Allred's present principal
occupation is Senior Vice President-Land Development of BCM. Mr. Allred 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, Secretary and General Counsel 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.
Mr. Stuart's business address is 10670 North Central
Expressway, Suite 600, Dallas, Texas 75231. Mr. Stuart's present principal
occupation is Executive Vice President of BCM. Mr. Stuart is a citizen of the
United States of America.
Mr. 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.
Mr. Mickey Ned Phillips' business address is 264 Rolling Hills
Circle, Gaffney, South Carolina 29340. Mr. Phillips' present principal
occupation is owner of Phillips Remodeling Co. Mr. 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>
Randall M. Paulson President
Thomas A. Holland Executive Vice President and
Chief Financial Officer
Bruce A. Endendyk Executive Vice President
Lynn W. Humphries Senior Vice President-Commercial Asset Management
Robert A. Waldman Senior Vice President, Secretary
and General Counsel
Drew D. Potera Treasurer
Edward L. Tixier Trustee
</TABLE>
9
<PAGE> 10
<TABLE>
<CAPTION>
Name Position(s) with CMET
- ---- ---------------------
<S> <C>
Ted P. Stokely Trustee
Martin L. White Trustee
Edward G. Zampa Trustee
</TABLE>
Information with respect to Messrs. Paulson, Holland,
Endendyk, Humphries, Waldman and Potera is disclosed in (I) above.
Mr. Tixier's business address is 110 Longhorn Lane, Dripping
Springs, Texas 78620. Mr. Tixier's present principal occupation is President
of Tixier, Inc. Mr. Tixier is a citizen of the United States of America.
Mr. Stokely's business address is 10670 North Central
Expressway, Suite 515, 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. 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. 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>
Karl L. Blaha President and Director
</TABLE>
10
<PAGE> 11
<TABLE>
<CAPTION>
Name Position(s) with ART
- ---- --------------------
<S> <C>
Thomas A. Holland Executive Vice President and
Chief Financial Officer
Randall M. Paulson Executive Vice President
Bruce A. Endendyk Executive Vice President
Lynn W. Humphries Senior Vice President-Commercial Asset Management
Robert A. Waldman Senior Vice President, Secretary
and General Counsel
Dan S. Allred Senior Vice President-Land Development
Drew D. Potera Treasurer
Al Gonzalez Director
Oscar W. Cashwell Director
Dale A. Crenwelge Director
Roy E. Bode Director
</TABLE>
Information with respect to Messrs. Cashwell, Paulson,
Holland, Endendyk, Humphries, Waldman, Allred, Potera and Ryan Phillips is
disclosed in (I) above.
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 of Carmel Realty, Inc. Mr. Blaha is a
citizen of the United States of America.
Mr. Gonzalez' business address is 4455 Alpha Road, Building 2,
Dallas, Texas 75244. 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's present principal occupation is the
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.
Mr. Bode's business address is 2435 E. FM 879, Palmer, Texas
75152. Mr. Bode's present principal occupation is Vice President for Public
Affairs at University of Texas Southwestern Medical Center at Dallas. Mr. Bode
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.
11
<PAGE> 12
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
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:
<TABLE>
<CAPTION>
Shares Owned Directly
---------------------
Number of Percent of
Name Shares Class (1)
- ---- --------- ----------
<S> <C> <C> <C>
BCM 335,612 8.6%
CMET 79,500 2.0%
ART 1,185,770 30.3%
SAMLP 26,475 0.7%
GEP Trust 46,500 1.2%
TOTAL 1,673,857 42.7%
</TABLE>
<TABLE>
<CAPTION>
Shares Owned Beneficially
-------------------------
Number of Percent of
Name Shares Class (1)
- ---- --------- ----------
<S> <C> <C>
ART 1,185,770 30.3%
BCM 335,612 8.6%
CMET 79,500 2.0%
SAMLP 26,475 0.7%
Gene E. Phillips (2) 26,475 0.7%
GEP Trust 46,500 1.2%
Al Gonzalez (3) 1,185,770 30.3%
Ryan Phillips (4)(5) 382,112 9.8%
Dale A. Crenwelge (3) 1,185,770 30.3%
Oscar W. Cashwell (3)(4) 1,521,382 38.8%
Roy E. Bode (3) 1,185,770 30.3%
Karl L. Blaha (3) 1,185,770 30.3%
Total shares beneficially
owned by Reporting Persons 1,637,857 42.7%
</TABLE>
12
<PAGE> 13
(1) Percentage calculations are based upon 3,918,669
Shares outstanding at October 31, 1996. 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 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 1,185,770 Shares owned by ART. Each of the directors of BCM exercises
voting and dispositive power over the 335,612 Shares held by BCM. Each of the
Trustees of CMET share voting and dispositive power over the 79,500 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 10/08/96 2,000 $10.000 Open Market
BCM 10/08/96 2,000 $10.000 Open Market
ART 10/09/96 3,000 $10.000 Open Market
BCM 10/09/96 15,000 $10.000 Open Market
BCM 10/10/96 10,200 $10.000 Open Market
BCM 10/11/96 100 $10.000 Open Market
BCM 10/14/96 500 $10.000 Open Market
BCM 10/15/96 400 $10.000 Open Market
BCM 10/16/96 700 $10.000 Open Market
BCM 10/18/96 300 $10.000 Open Market
BCM 10/21/96 200 $10.000 Open Market
BCM 10/22/96 1,400 $10.000 Open Market
BCM 10/23/96 200 $10.000 Open Market
BCM 10/24/96 100 $10.000 Open Market
BCM 10/25/96 100 $10.000 Open Market
</TABLE>
13
<PAGE> 14
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 15,875 shares to Advest, pledged 39,000 shares to Alex
Brown (TX), pledged 7,500 shares to Arnold Securities, pledged 18,000 shares to
Baker & Co., pledged 11,300 shares to Baraban Securities, pledged 124,537
shares to Bear Stearns, pledged 22,500 shares to Bidwell, pledged 7,350 shares
to Brown & Co., pledged 22,075 shares to C.J. Lawrence, pledged 17,000 shares
to Cowen & Co., pledged 1,500 shares to Dain Bosworth, pledged 34,644 shares to
Dean Witter (CA), pledged 9,100 shares to Equitable, pledged 15,000 shares to
First Southwest, pledged 30,000 shares to Global Strategies, pledged 42,807
shares to Goldman Sachs, pledged 18,000 shares to Hambrecht & Quist, pledged
22,500 shares to JB Oxford, pledged 13,500 shares to Jefferies (TX), pledged
6,000 shares to JW Charles, pledged 30,000 shares to Legg Mason (TX), pledged
3,000 shares to Marsh Block, pledged 5,550 shares to May Financial, pledged
30,000 shares to McDonald & Co., pledged 22,500 shares to Montgomery, pledged
19,500 shares to Morgan Keegan, pledged 24,000 shares to Mutual Securities,
pledged 102,207 shares to NationsBanc Cap., pledged 35,675 shares to Nationwide
Securities, pledged 22,500 shares to Olde, pledged 37,500 shares to Oppenheimer
(NY), pledged 42,257 shares to Oppenheimer (TX), pledged 6,000 shares to
Pacific Brokerage, pledged 37,000 shares to The Principal Group, pledged 75,000
shares to Rauscher Pierce, pledged 31,500 shares to Regions Investment, pledged
3,750 shares to Roney & Co., pledged 15,825 shares to Securities of America,
pledged 20,250 shares to Tucker Anthony, pledged 6,000 shares to UBS
Securities, pledged 11,500 shares to Wachovia, pledged 12,000 shares to
Washington Discount and pledged 38,663 shares to Wedbush Morgan in stock margin
accounts maintained by it with such brokers.
ART has also pledged 75,406 shares to United Pacific pursuant to a
loan agreement with such lender.
BCM has pledged 6,850 shares to Advest, pledged 20,000 shares to The
Advisors Group, pledged 7,500 shares to Alex Brown (NY), pledged 22,050 shares
to Allied, pledged 9,000 shares to American Express Financial, pledged 6,550
shares to Baker & Co., pledged 16,500 shares to Baraban Securities, pledged
21,375 shares to Bear Stearns, pledged 4,500 shares to Boatmen's, pledged 6,000
shares to Brown & Co., pledged 6,000 shares to C.J. Lawrence, pledged 3,000
shares to Chase Securities, pledged 2,000 shares to Chatfield Dean, pledged
9,000 shares to Cowen & Co., pledged 20,400 shares to Dean Witter (CA), pledged
6,450 shares to Hambrecht & Quist, pledged 10,500 shares to HD Vest, pledged
3,000 shares to JB Oxford, pledged 5,000 shares to Legg Mason (TX), pledged
11,200 shares to NationsBanc Cap., pledged 12,000 shares to Olde, pledged
10,500 shares to Oppenheimer (NY), pledged 23,437 shares to Oppenheimer (TX),
pledged 6,500 shares to The Principal Group, pledged 24,000 shares to Rauscher
Pierce, pledged 3,000 shares to Raymond James, pledged 3,000 shares to Regions
Investment, pledged 7,500 shares to Rodman & Renshaw,
14
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pledged 10,250 shares to Signet, pledged 4,500 shares to Southwest Securities,
pledged 7,000 shares to Wachovia, and pledged 27,050 shares to Wedbush Morgan
in stock margin accounts maintained by it with such brokers.
CMET has pledged 15,000 shares to Goldman Sachs, pledged 48,000 shares
to JW Charles and pledged 16,500 shares to Neuberger in stock margin accounts
maintained by it with such brokers.
SAMLP has pledged 26,475 shares to Bear Stearns in stock margin
accounts maintained by it with such broker.
GEP Trust has pledged 46,500 shares to Dean Witter (NY) in stock
margin accounts maintained by it with such broker.
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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: November 6, 1996.
SYNTEK ASSET MANAGEMENT, L.P.
By: Syntek Asset Management, Inc.
Managing General Partner
By: /s/ Randall M. Paulson
--------------------------------
Randall M. Paulson
President
AMERICAN REALTY TRUST, INC.
By: /s/ Karl L. Blaha
--------------------------------
Karl L. Blaha
President
BASIC CAPITAL MANAGEMENT, INC.
By: /s/ Drew D. Potera
--------------------------------
Drew D. Potera
Treasurer
GENE E. PHILLIPS CHILDREN'S TRUST
By: /s/ Donald W. Phillips
--------------------------------
Donald W. Phillips
Trustee
CONTINENTAL MORTGAGE AND EQUITY TRUST
By: /s/ Randall M. Paulson
--------------------------------
Randall M. Paulson
President
16
