<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 33)
TRANSCONTINENTAL REALTY INVESTORS, INC.
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(Name of Issuer)
Common Stock, par value $0.01 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
893617-20-9
--------------------------------------------------------------------------------
(CUSIP Number)
Robert A. Waldman
10670 N. Central Expressway, Suite 600
Dallas, Texas 75231
(214) 692-4758
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
June 16, 2000
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(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 Rules 13d-1(b)(3) or (4), check the following box [ ].
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 persons'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
CUSIP No. 893617-20-9
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1) Names of Reporting Persons I.R.S. Identification Nos. of Above Persons
(entities only)
American Realty Trust, Inc., FEI No. 54-0697989
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
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3) SEC Use Only
--------------------------------------------------------------------------------
WC
4) Source of Funds (See Instructions)
--------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e)
--------------------------------------------------------------------------------
Georgia
6) Citizenship or Place of Organization
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2,119,400
7) Sole Voting Power
--------------------------------------------------------------
-0-
8) Shared Voting Power
--------------------------------------------------------------
2,119,400
9) Sole Dispositive Power
--------------------------------------------------------------
-0-
10) Shared Dispositive Power
--------------------------------------------------------------------------------
2,119,400
11) Aggregate Amount Beneficially Owned by Each Reporting Person
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
--------------------------------------------------------------------------------
24.6%
13) Percent of Class Represented by Amount in Row (11)
--------------------------------------------------------------------------------
CO
14) Type of Reporting Person (See Instructions)
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<PAGE> 3
CUSIP No. 893617-20-9
--------------------------------------------------------------------------------
1) Names of Reporting Persons I.R.S. Identification Nos. of Above Persons
(entities only)
Basic Capital Management, Inc., FEI No. 75-2261065
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
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3) SEC Use Only
--------------------------------------------------------------------------------
WC
4) Source of Funds (See Instructions)
--------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e)
--------------------------------------------------------------------------------
Nevada
6) Citizenship or Place of Organization
--------------------------------------------------------------------------------
1,053,876
7) Sole Voting Power
--------------------------------------------------------------
Number of -0-
Shares Bene- 8) Shared Voting Power
ficially
Owned by --------------------------------------------------------------
Each Report-
ing Person 1,053,876
With 9) Sole Dispositive Power
--------------------------------------------------------------
-0-
10) Shared Dispositive Power
--------------------------------------------------------------------------------
1,053,876
11) Aggregate Amount Beneficially Owned by Each Reporting Person
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
--------------------------------------------------------------------------------
12.2%
13) Percent of Class Represented by Amount in Row (11)
--------------------------------------------------------------------------------
CO
14) Type of Reporting Person (See Instructions)
--------------------------------------------------------------------------------
<PAGE> 4
CUSIP No. 893617-20-9
--------------------------------------------------------------------------------
1) Names of Reporting Persons I.R.S. Identification Nos. of Above Persons
(entities only)
ART Holdings, Inc., FEI No. 75-2663476
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
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3) SEC Use Only
--------------------------------------------------------------------------------
WC
4) Source of Funds (See Instructions)
--------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e)
--------------------------------------------------------------------------------
Nevada
6) Citizenship or Place of Organization
--------------------------------------------------------------------------------
16,000
7) Sole Voting Power
--------------------------------------------------------------
Number of -0-
Shares Bene- 8) Shared Voting Power
ficially
Owned by --------------------------------------------------------------
Each Report-
ing Person 16,000
With 9) Sole Dispositive Power
--------------------------------------------------------------
-0-
10) Shared Dispositive Power
--------------------------------------------------------------------------------
16,000
11) Aggregate Amount Beneficially Owned by Each Reporting Person
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
--------------------------------------------------------------------------------
0.2%
13) Percent of Class Represented by Amount in Row (11)
--------------------------------------------------------------------------------
CO
14) Type of Reporting Person (See Instructions)
--------------------------------------------------------------------------------
<PAGE> 5
CUSIP No. 893617-20-9
--------------------------------------------------------------------------------
1) Names of Reporting Persons I.R.S. Identification Nos. of Above Persons
(entities only)
Syntek Asset Management, L.P., FEI No. 75-2311348
--------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
--------------------------------------------------------------------------------
3) SEC Use Only
--------------------------------------------------------------------------------
N/A
4) Source of Funds (See Instructions)
--------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e)
--------------------------------------------------------------------------------
Delaware
6) Citizenship or Place of Organization
--------------------------------------------------------------------------------
26,475
7) Sole Voting Power
--------------------------------------------------------------
Number of -0-
Shares Bene- 8) Shared Voting Power
ficially
Owned by --------------------------------------------------------------
Each Report-
ing Person 26,475
With 9) Sole Dispositive Power
--------------------------------------------------------------
-0-
10) Shared Dispositive Power
--------------------------------------------------------------------------------
26,475
11) Aggregate Amount Beneficially Owned by Each Reporting Person
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
--------------------------------------------------------------------------------
0.3%
13) Percent of Class Represented by Amount in Row (11)
--------------------------------------------------------------------------------
PN
14) Type of Reporting Person (See Instructions)
--------------------------------------------------------------------------------
<PAGE> 6
CUSIP No. 893617-20-9
--------------------------------------------------------------------------------
1) Names of Reporting Persons I.R.S. Identification Nos. of Above Persons
(entities only)
The Gene E. Phillips Children's Trust, I.D. No. 13-6599759
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
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3) SEC Use Only
--------------------------------------------------------------------------------
N/A
4) Source of Funds (See Instructions)
--------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e)
--------------------------------------------------------------------------------
Texas
6) Citizenship or Place of Organization
--------------------------------------------------------------------------------
-0-
7) Sole Voting Power
--------------------------------------------------------------
Number of -0-
Shares Bene- 8) Shared Voting Power
ficially
Owned by --------------------------------------------------------------
Each Report-
ing Person -0-
With 9) Sole Dispositive Power
--------------------------------------------------------------
-0-
10) Shared Dispositive Power
--------------------------------------------------------------------------------
-0-
11) Aggregate Amount Beneficially Owned by Each Reporting Person
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
--------------------------------------------------------------------------------
0%
13) Percent of Class Represented by Amount in Row (11)
--------------------------------------------------------------------------------
OO
14) Type of Reporting Person (See Instructions)
--------------------------------------------------------------------------------
<PAGE> 7
ITEM 1. SECURITY AND ISSUER
This Amendment to Statement on Schedule 13D relates to the shares of
Shares of Common Stock, par value $0.01 per share (the "Shares") of
TRANSCONTINENTAL REALTY INVESTORS, INC., a Nevada corporation ("TCI" or
the"Issuer") and further amends the original Statement on Schedule 13D as
amended by Amendment Nos. 1 through 32 thereof (the "Amended Statement") filed
by and on behalf of the "Reporting Persons" described below. The principal
executive offices of TCI are located at 10670 N. Central Expressway, Suite 600,
Dallas, Texas 75231. The CUSIP number of the Shares is 893617-20-9.
This Amendment No. 33 to Schedule 13D is being filed due to a
significant decrease in the total percentage of outstanding Shares owned by two
of the Reporting Persons through June 30, 2000, most of which occurred on June
16, 2000. During the period ending June 30, 2000, the collective beneficial
ownership of the Reporting Persons decreased from approximately 59% of the
issued and outstanding Shares down to 37.3% of the Shares. The decrease was due
to margin sales by brokers of Shares pledged in margin accounts by ART and BCM.
ITEM 2. IDENTITY AND BACKGROUND
Item 2 of the Amended Statement is hereby further amended as follows:
This Amendment is being filed on behalf of American Realty Trust, Inc.,
a Georgia corporation ("ART"), Basic Capital Management, Inc., a Nevada
corporation ("BCM"), ART Holdings, Inc., a Nevada corporation ("AHI"), The Gene
E. Phillips Children's Trust (the "GEP Trust") and Syntek Asset Management,
L.P., a Delaware limited partnership ("SAM LP"), each of which have their
principal executive offices located at 10670 N. Central Expressway, Suite 600,
Dallas, Texas 75231. All of ART, BCM, AHI, the GEP Trust and SAM LP are
collectively referred to as the "Reporting Persons." The Reporting Persons 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 SAM LP, BCM is beneficially owned by a trust for the benefit
of Mr. Phillips' children; BCM serves as Advisor to Art, and Mr. Phillips' son,
Ryan T. Phillips, serves as a director of BCM and is a beneficiary of the GEP
Trust. AHI is a wholly-owned subsidiary of ART.
I. ART is a real estate investment company organized and existing as a
Georgia corporation engaged in the business of investing in and originating
mortgage loans and investing in real estate. ART's principal business activities
include investments in real estate and in other business ventures. The name,
business
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<PAGE> 8
address and capacity with ART of each of the executive officers or directors of
ART are set forth on Schedule 1 attached hereto. Each of the individuals listed
on Schedule 1 is a citizen of the United States of America.
II. 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 and investment trusts and other real estate entities.
The name, business address and capacity with BCM of each of the executive
officers or directors of BCM are set forth on Schedule 2 attached hereto. Each
of the individuals listed on Schedule 2 is a citizen of the United States of
America.
III. AHI is a corporation organized and existing under the laws of the
State of Nevada. AHI is a wholly-owned subsidiary of ART. AHI's principal
business activity is the holding of record ownership of Shares beneficially
owned by ART. The name, business address and capacity with AHI of each of the
executive officers or directors of AHI are set forth on Schedule 3 attached
hereto. Each of the individuals listed on Schedule 3 is a citizen of the United
States of America.
IV. SAM LP is a Delaware limited partnership engaged in the business of
investing in real estate and real estate related assets. SAM LP has no officers
or directors. The general partners of SAM LP are Gene E. Phillips and Syntek
Asset Management, Inc., a Texas corporation ("SAMI"). SAMI is a wholly-owned
subsidiary of BCM. SAMI's principal business activities include investment in
real estate and other business ventures. SAMI's principal place of business and
principal office is located at 10670 N. Central Expressway, Suite 600, Dallas,
Texas 75231. The name, business address and capacity with SAMI of each of the
executive officers or directors of SAMI are set forth on Schedule 4 attached
hereto. Each of the individuals listed on Schedule 4 is a citizen of the United
States of America.
Mr. Gene E. Phillips' business address is 10670 N. Central
Expressway, Suite 600, Dallas, Texas 75231. Mr. Gene E. Phillips' present
principal occupation is Chief Executive Officer and President of Syntek West,
Inc. Mr. Gene E. Phillips is a citizen of the United States of America.
V. The GEP Trust is a trust formed under the laws of the state of Texas
for the benefit of the children of Mr. Gene E. Phillips. The trustee of the GEP
Trust is Mr. Gene E. Phillips' brother, Donald W. Phillips. Donald W. Phillips'
business address is 10670 N. Central Expressway, Suite 515, Dallas, Texas 75231.
Mr. Donald W. Phillips present principal occupation is President and owner of
Big D Oil Field Equipment Sales. Mr. Donald W. Phillips is a citizen of the
United States of America.
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<PAGE> 9
Individuals whose names are not listed on Schedules 1, 2, 3 or 4 who
may have previously been referred to as executive officers or directors of ART,
BCM, AHI or SAMI, respectively in Amendment No. 33 to Schedule 13D no longer
occupy those positions, each having resigned or been removed prior to the date
of this Amendment.
(d) During the last five years, none of ART, BCM, AHI, SAM LP or the
GEP Trust, nor any of their respective executive officers or directors, general
partners or trustees has been convicted in a criminal proceeding (excluding
traffic violations and/or similar misdemeanors).
(e) During the last five years, none of ART, BCM, AHI, SAM LP the GEP
Trust, nor any of their respective executive officers or directors, general
partners or trustees has been a party to any civil proceeding of a judicial or
administrative body of competent jurisdiction which resulted in 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 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The consideration paid to purchase the Shares described in Item 5 below
is from working capital of each of the Reporting Persons and no part of the
purchase price is represented by funds or other consideration borrowed or
otherwise obtained for the purpose of acquiring, holding, trading or voting the
Shares. Each of the Reporting Persons have in the past and may in the future,
utilized margin accounts with various brokerage firms which accounts may, from
time to time, have debit balances and include certain of the Shares. Since other
securities are held in such accounts, it may be impracticable at any time to
determine the amounts, if any, borrowed with respect to the Shares and interest
costs vary with applicable costs and account balances. Certain of the matters
reported under Item 5 below are dispositions caused by sales from margin
accounts by brokerage firms pursuant to the terms of those account agreements
according to such brokerage firms.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 of the Amended Statement is hereby further amended as follows:
(a) According to the latest information available from the Issuer, as
of April 28, 2000, the total number of issued and outstanding Shares was
8,630,538 Shares. As of June 30, 2000, the following Shares were owned directly
and beneficially by the Reporting Persons set forth below:
-3-
<PAGE> 10
<TABLE>
<CAPTION>
Name No. of Units Owned Directly Approximate % Class
---- --------------------------- -------------------
<S> <C> <C>
ART 2,119,400 24.6%
BCM 1,053,876 12.2%
AHI 16,000 0.2%
GEP Trust -0- 0.0%
SAM LP 26,475 0.3%
---------- ------
Totals: 3,215,751 37.3%
========== ======
</TABLE>
Pursuant to Rule 13d-3 under the Securities Exchange Act of 1934 (the
"Exchange Act"), each of the directors of ART may be deemed to beneficially own
the number of Shares owned by ART described above; each of the directors of BCM
may be deemed to beneficially own the Shares held directly by BCM; each of the
directors of SAMI and the other General Partner of SAM LP may be deemed to
beneficially own the Shares held by SAM LP; and each of the directors of AHI may
be deemed to beneficially own the Shares held directly by AHI. Those individuals
and the number of Shares deemed beneficially owned pursuant to Rule 13d-3, and
the approximate percent of the class, as well as the relationship, are set forth
in the following table:
<TABLE>
<CAPTION>
Name of Director or No. of Shares % of
General Partner Entity Beneficially Owned Class
--------------- ------ ------------------ -------
<S> <C> <C> <C>
Karl L. Blaha ART and AHI 2,135,400 25.3%
Roy E. Bode ART 2,119,400 24.2%
Collene C. Currie ART 2,119,400 24.2%
Cliff Harris ART 2,119,400 24.2%
Joseph Mizrachi ART 2,119,400 24.2%
Ryan T. Phillips BCM(a) 1,053,876 24.4%
Mickey Ned Phillips BCM 1,053,876 12.4%
Gene E. Phillips SAM LP 26,475 0.3%
SAMI SAM LP 26,475 0.3%
Robert A. Waldman AHI 16,000 0.2%
---------- -------
Total Units beneficially
owned by Reporting Persons 3,215,751 37.3%
and individuals listed ========== =======
above:
</TABLE>
----------
(a) Also beneficiary of the GEP Trust
(b) Each of the directors of ART share voting and dispositive power
over the 2,119,400 Shares held by ART. The directors of BCM have shared voting
and dispositive power over the 1,053,876 Shares held by BCM. Each of the
directors of AHI share voting and dispositive power over the 16,000 Shares held
by AHI. The two General Partners of SAM LP each have shared voting and
dispositive power over the 26,475 Shares by SAM LP.
(c) During the 60 calendar days ended June 30, 2000, except for the
transactions that are described below, the Reporting
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<PAGE> 11
Persons and their respective executive officers, directors, partners and
trustees, as the case may be, did not engage in any transaction in the Shares or
any other equity interests derivative thereof. The following table sets forth
the acquisition and disposition transactions in the Shares that have been
effectuated during the sixty days ended June 30, 2000:
<TABLE>
<CAPTION>
No. of
Shares
Reporting Acquired Price per Type of
Person Date (Disposed) Share Transaction
--------- --------- ---------- --------- -----------
<S> <C> <C> <C> <C>
BCM 05/11/00 15,000 $ 11.625 Open Market Purchase
BCM 05/12/00 500 $ 11.375 Open Market Purchase
BCM 06/08/00 400 $ 10.75 Open Market Purchase
BCM 06/15/00 (900) $ 10.01 *
BCM 06/15/00 (1,000) $ 10.03 *
BCM 06/16/00 (8,000) $ 3.00 *
BCM 06/16/00 (4,500) $ 3.25 *
BCM 06/16/00 (515) $ 5.50 *
BCM 06/16/00 (100) $ 3.06 *
BCM 06/16/00 (2,000) $ 4.00 *
BCM 06/16/00 (10,200) $ 4.58 *
BCM 06/16/00 (800) $ 7.00 *
BCM 06/16/00 (17,200) $ 4.74 *
BCM 06/16/00 (9,277) $ 4.34 *
BCM 06/16/00 (9,600) $ 5.91 *
BCM 06/19/00 (63,796) $ 4.45 *
BCM 06/19/00 (39,141) $ 4.19 *
BCM 06/19/00 (6,100) $ 4.19 *
BCM 06/19/00 (50,000) $ 4.50 *
BCM 06/19/00 (19,034) $ 4.25 *
BCM 06/19/00 (10,000) $ 4.13 *
BCM 06/19/00 (43,227) $ 4.13 *
BCM 06/21/00 (1,000) $ 5.25 *
BCM 06/21/00 (1,500) $ 4.50 *
BCM 06/21/00 (100) $ 4.06 *
BCM 06/21/00 (2,400) $ 4.00 *
BCM 06/22/00 (5,000) $ 4.25 *
BCM 06/22/00 (5,000) $ 4.38 *
BCM 06/27/00 (30,070) $ 6.68 *
BCM 06/27/00 (634,661) $ 6.125 *
BCM 06/27/00 200,000 $ 7.09 Open Market Purchase
BCM 06/27/00 10,000 $ 7.00 Open Market Purchase
BCM 06/27/00 10,000 $ 6.50 Open Market Purchase
BCM 06/27/00 100 $ 6.50 Open Market Purchase
BCM 06/27/00 9,700 $ 6.13 Open Market Purchase
BCM 06/27/00 200 $ 6.69 Open Market Purchase
BCM 06/27/00 5,000 $ 6.50 Open Market Purchase
BCM 06/27/00 10,000 $ 6.63 Open Market Purchase
BCM 06/28/00 12,500 $ 8.93 Open Market Purchase
BCM 06/29/00 48,200 $ 11.58 Open Market Purchase
</TABLE>
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<PAGE> 12
<TABLE>
<CAPTION>
No. of
Shares
Reporting Acquired Price per Type of
Person Date (Disposed) Share Transaction
--------- --------- ---------- --------- -----------
<S> <C> <C> <C> <C>
BCM 06/29/00 300 $ 10.75 Open Market Purchase
BCM 06/29/00 3,500 $ 11.25 Open Market Purchase
BCM 06/30/00 10,000 $ 12.63 Open Market Purchase
BCM 06/30/00 1,100 $ 11.88 Open Market Purchase
BCM 06/30/00 1,800 $ 12.06 Open Market Purchase
BCM 06/30/00 800 $ 13.00 Open Market Purchase
BCM 06/30/00 8,300 $ 13.38 Open Market Purchase
ART 05/03/00 200 $ 11.875 Open Market Purchase
ART 05/04/00 700 $ 11.875 Open Market Purchase
ART 05/09/00 4,600 $ 11.75 Open Market Purchase
ART 05/10/00 700 $ 11.67 Open Market Purchase
ART 05/15/00 200 $ 11.25 Open Market Purchase
ART 05/16/00 900 $ 11.375 Open Market Purchase
ART 05/17/00 500 $ 11.25 Open Market Purchase
ART 05/23/00 200 $ 11.00 Open Market Purchase
ART 05/22/00 400 $ 11.125 Open Market Purchase
ART 05/24/00 6,000 $ 11.00 Open Market Purchase
ART 06/05/00 4,300 $ 11.00 Open Market Purchase
ART 06/09/00 200 $ 10.75 Open Market Purchase
ART 06/09/00 400 $ 10.94 Open Market Purchase
ART 06/12/00 100 $ 10.81 Open Market Purchase
ART 06/13/00 3,700 $ 10.81 Open Market Purchase
ART 06/15/00 3,700 $ 10.81 Open Market Purchase
ART 06/15/00 (1,000) $ 9.90 *
ART 06/16/00 (300) $ 4.50 *
ART 06/16/00 (700) $ 4.00 *
ART 06/16/00 (500) $ 5.25 *
ART 06/16/00 (2,000) $ 5.00 *
ART 06/16/00 (200) $ 3.25 *
ART 06/16/00 (100) $ 6.88 *
ART 06/16/00 (7,000) $ 3.00 *
ART 06/16/00 (500) $ 8.81 *
ART 06/16/00 (500) $ 7.00 *
ART 06/16/00 (700) $ 8.00 *
ART 06/16/00 (100) $ 6.25 *
ART 06/16/00 (200) $ 5.63 *
ART 06/16/00 (6,000) $ 5.88 *
ART 06/16/00 (1,500) $ 3.13 *
ART 06/16/00 (500) $ 8.50 *
ART 06/16/00 (1,000) $ 5.00 *
ART 06/16/00 (9,800) $ 4.58 *
ART 06/16/00 (9,000) $ 4.13 *
ART 06/16/00 (3,711) $ 4.34 *
ART 06/16/00 (7,628) $ 4.34 *
ART 06/16/00 (2,000) $ 5.91 *
ART 06/19/00 (2,065) $ 4.50 *
ART 06/19/00 (700) $ 4.63 *
</TABLE>
-6-
<PAGE> 13
<TABLE>
<CAPTION>
No. of
Shares
Reporting Acquired Price per Type of
Person Date (Disposed) Share Transaction
--------- --------- ---------- --------- -----------
<S> <C> <C> <C> <C>
ART 06/19/00 (19,400) $ 4.58 *
ART 06/19/00 (20,392) $ 4.63 *
ART 06/19/00 (8,000) $ 4.56 *
ART 06/19/00 (188,604) $ 4.45 *
ART 06/19/00 (53,444) $ 4.19 *
ART 06/19/00 (32,983) $ 4.25 *
ART 06/19/00 (32,983) $ 4.25 *
ART 06/19/00 (17,933) $ 4.13 *
ART 06/19/00 (36,240) $ 4.13 *
ART 06/19/00 (2,430) $ 4.56 *
ART 06/19/00 (1,000) $ 4.56 *
ART 06/19/00 (4,000) $ 4.63 *
ART 06/19/00 (5,000) $ 4.38 *
ART 06/19/00 (7,000) $ 4.19 *
ART 06/19/00 (8,000) $ 4.69 *
ART 06/19/00 (10,000) $ 4.50 *
ART 06/19/00 (5,000) $ 4.38 *
ART 06/19/00 (4,000) $ 4.56 *
ART 06/19/00 (3,000) $ 4.38 *
ART 06/19/00 (1,000) $ 4.63 *
ART 06/19/00 (2,000) $ 4.63 *
ART 06/19/00 (2,000) $ 4.63 *
ART 06/19/00 (3,000) $ 4.50 *
ART 06/19/00 (40,000) $ 4.44 *
ART 06/27/00 (31,994) $ 6.02 *
ART 06/27/00 (579,429) $ 6.125 *
AHI 06/27/00 (79,025) $ 6.125 *
GEP 06/21/00 (500) $ 7.50 *
GEP 06/21/00 (1,500) $ 7.00 *
GEP 06/21/00 (300) $ 7.50 *
GEP 06/21/00 (1,000) $ 6.00 *
GEP 06/22/00 (5,000) $ 4.75 *
GEP 06/22/00 (25,000) $ 4.50 *
GEP 06/30/00 (35,100) $ 6.6875 *
GEP 06/30/00 (5,100) $ 6.625 *
GEP 06/30/00 (31,222) $ 6.50 *
</TABLE>
----------
* Under varying arrangements during the period from June 15, 2000,
through June 30, 2000, certain brokerage firms where Shares were pledged by ART,
AHI, BCM and GEP Trust allegedly foreclosed upon such arrangements and sold for
the account of ART or AHI or BCM or GEP Trust as applicable, certain Shares
pledged as indicated by the dispositions set forth above.
After giving effect to the margin sale dispositions described above, as
of June 30, 2000, the GEP Trust ceased to own of record or beneficially any
Shares and therefore will be considered to be removed from this Schedule 13D as
to future Amendments unless the GEP Trust acquires Shares in the future.
-7-
<PAGE> 14
(d) No person other than the Reporting Persons or its respective Board
of Directors, General Partners or Trustee is known to have the right to receive
or the power to direct receipt of dividends from, or the proceeds of sale of,
the Shares held by each of the Reporting Persons, subject to the matters set
forth in Item 6 below.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER
Item 6 of the Amended Statement is hereby further amended to read as
follows:
ART has pledged 152,212 Shares to United Pacific Bank pursuant to a
loan agreement with such lender. ART has also pledged 249,191 Shares to
Preferred Bank pursuant to a loan agreement with such lender. The remaining
1,717,997 Shares owned by ART may be deemed to be "collateral" for borrowings
pursuant to margin or other account arrangements with banks and brokerage firms
relating to accounts of ART. Such arrangements are standard arrangements
involving margin securities of up to a specified percentage of the market value
of the Shares and bear interest at varying rates and contain only standard
default and similar provisions, the operation of any of which should not give
any other person immediate voting power or investment power over such
securities. Such arrangements exist with the Shares and other securities held in
such accounts, and it is impracticable at any given time to determine the
amounts, if any, with respect to the Shares and interest costs under such
arrangements vary with applicable costs and account balances.
All 1,053,876 Shares owned by BCM may be deemed to be "collateral" for
borrowings pursuant to margin or other account arrangements with bankers and
brokerage firms relating to accounts of BCM. Such arrangements are standard
arrangements involving margin securities of up to a specified percentage of the
market value of the Shares and bear interest at varying rates and contain only
standard default and similar provisions, the operation of any of which should
not give any other person immediate voting power or investment power over such
securities. Such arrangements exist with the Shares and other securities held in
such accounts, and it is impracticable at any given time to determine the
amounts, if any, with respect to the Shares and interest costs under such
arrangements vary with applicable costs and account balances.
All 16,000 Shares owned by AHI may be deemed to be "collateral" for
borrowings pursuant to margin or other account arrangements with two separate
brokerage firms relating to accounts of AHI. Such arrangements with both
brokerage firms are standard arrangements involving margin securities of up to a
specified
-8-
<PAGE> 15
percentage of the market value of the Shares, as well as other securities in
such accounts, and bear interest at varying rates and contain only standard
default and similar provisions, the operation of any of which should not give
any other person immediate voting power or investment power over the Shares.
All 26,475 Shares owned by SAM LP may be deemed to be "collateral" for
borrowings pursuant to margin or other account arrangements with Bear Stearns
relating to an account of SAM LP. Such arrangement with such brokerage firm is a
standard arrangement involving margin securities of up to a specified percentage
of the market value of all securities in such account, including the Shares, and
bears interest at varying rates and contains only standard default and similar
provisions, the operation of which should not give any other person immediate
voting power or investment power over such securities.
Except as set forth in the preceding paragraphs, the Reporting Persons
do not have any contracts, arrangements, understandings or relationships (legal
or otherwise) with any person with respect to any securities of the Issuer
including finder's fees, joint ventures, loan or option arrangements, puts or
calls, guaranties of profits, division of profits or loss, or the giving or
withholding of proxies.
-9-
<PAGE> 16
SIGNATURES
After reasonable inquiry and to the best of their respective knowledge
and belief, the undersigned certify that the information set forth in this
Amendment No. 33 to Statement on Schedule 13D is true, complete and correct.
Dated: July 24, 2000
AMERICAN REALTY TRUST, INC.
/s/ Karl L. Blaha
By:
--------------------------------
Karl L. Blaha, President
BASIC CAPITAL MANAGEMENT, INC.
/s/ Karl L. Blaha
By:
--------------------------------
Karl L. Blaha, President
ART HOLDINGS, INC.
/s/ Karl L. Blaha
By:
--------------------------------
Karl L. Blaha, President
SYNTEK ASSET MANAGEMENT, LP., a
Delaware limited partnership
By: Syntek Asset Management, Inc.,
General Partner
/s/ Karl L. Blaha
By:
---------------------------
Karl L. Blaha, President
THE GENE E. PHILLIPS CHILDREN'S
TRUST
/s/ Donald W. Phillips
By:
--------------------------------
Donald W. Phillips, Trustee
<PAGE> 17
SCHEDULE 1
EXECUTIVE OFFICERS AND DIRECTORS OF
AMERICAN REALTY TRUST, INC.
<TABLE>
<CAPTION>
PRESENT BUSINESS IN
NAME AND CAPACITY WITH WHICH EMPLOYMENT IS
AMERICAN REALTY TRUST, INC. BUSINESS ADDRESS CONDUCTED
<S> <C> <C>
Karl L. Blaha, Chairman of 10670 N. Central Expressway President, Basic
the Board of Directors, Suite 300 Capital Management,
Chief Executive Officer and Dallas, Texas 75231 Inc.
President
Roy E. Bode, Director 2435 E. F.M. 879 Vice President for
Palmer, Texas 75152 Public Affairs,
University of Texas
Southwestern Medical
Center at Dallas
Collene C. Currie, Director 6617 Ridgeview Circle Assistant Director,
Dallas, Texas 75240 Cambridge Technology
Partners (CATP:NASDAQ)
Cliff Harris, Director 2838 Woodside Street President, Energy
Dallas, Texas 75204 Transfer Group, L.L.C.
Joseph Mizrachi, Director 6971 North Federal Hwy. President, PAZ
Suite 203 Securities, Inc. and
Boca Raton, Florida 33487 Chairman of the Board,
Third Millennium
Properties, Inc.
Thomas A. Holland, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic
and Chief Financial Officer Dallas, Texas 75231 Capital Management,
Inc.
Bruce A. Endendyk, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic
Dallas, Texas 75231 Capital Management,
Inc.
David W. Starowicz, 10670 N. Central Expwy. Executive Vice
Executive Vice President - Suite 600 President, Basic
Commercial Asset Management Dallas, Texas 75231 Capital Management,
Inc.
Steven K. Johnson, 10670 N. Central Expwy. Executive Vice
Executive Vice President - Suite 600 President, Basic
Residential Asset Dallas, Texas 75231 Capital Management,
Management Inc.
Robert A. Waldman, Senior 10670 N. Central Expwy. Senior Vice President,
Vice President, Secretary Suite 600 General Counsel and
and General Counsel Dallas, Texas 75231 Secretary, Basic
Capital Management,
Inc.
</TABLE>
<PAGE> 18
SCHEDULE 2
EXECUTIVE OFFICERS AND DIRECTORS OF
BASIC CAPITAL MANAGEMENT, INC.
<TABLE>
<CAPTION>
NAME AND CAPACITY WITH PRESENT BUSINESS IN
BASIC CAPITAL WHICH EMPLOYMENT IS
MANAGEMENT INC. BUSINESS ADDRESS CONDUCTED
<S> <C> <C>
Ryan T. Phillips, 10670 N. Central Expwy. President, Signature
Director Sixth Floor Asset Management, Inc.
Dallas, Texas 75231
Mickey Ned Phillips, 264 Rolling Hills Circle President, Ned Phillips
Director Gaffney, SC 29340 Construction Company
Karl L. Blaha, President 10670 N. Central Expwy. President, Basic Capital
Suite 300 Management, Inc.
Dallas, Texas 75231
Thomas A. Holland, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
and Chief Financial Dallas, Texas 75231 Management, Inc.
Officer
Clifford C. Towns, Jr., 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
- Finance Dallas, Texas 75231 Management, Inc.
Bruce A. Endendyk, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
Dallas, Texas 75231 Management, Inc.
David W. Starowicz, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
- Commercial Asset Dallas, Texas 75231 Management, Inc.
Management
Steven K. Johnson, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
- Residential Asset Dallas, Texas 75231 Management, Inc.
Management
Cooper B. Stuart, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
Dallas, Texas 75231 Management, Inc.
Robert A. Waldman, 10670 N. Central Expwy. Senior Vice President,
Senior Vice President, Suite 600 General Counsel and
Secretary and General Dallas, Texas 75231 Secretary, Basic Capital
Counsel Management, Inc.
</TABLE>
<PAGE> 19
SCHEDULE 3
EXECUTIVE OFFICERS AND DIRECTORS OF
ART HOLDINGS, INC.
<TABLE>
<CAPTION>
NAME AND CAPACITY WITH ART PRESENT BUSINESS IN WHICH
HOLDINGS, INC. BUSINESS ADDRESS EMPLOYMENT IS CONDUCTED
<S> <C> <C>
Karl L. Blaha, President 10670 N. Central Expwy. President, Basic Capital
and Director Suite 600 Management, Inc.
Dallas, Texas 75231
Robert A. Waldman, 10670 N. Central Expwy. Senior Vice President,
Director and Secretary Suite 600 General Counsel and
Dallas, Texas 75231 Secretary, Basic Capital
Management, Inc.
Thomas A. Holland, Vice 10670 N. Central Expwy. Executive Vice President
President and Chief Suite 600 and Chief Financial
Financial Officer Dallas, Texas 75231 Officer, Basic Capital
Management, Inc.
</TABLE>
<PAGE> 20
SCHEDULE 4
EXECUTIVE OFFICERS AND DIRECTORS OF
SYNTEK ASSET MANAGEMENT, INC.
<TABLE>
<CAPTION>
NAME AND CAPACITY WITH PRESENT BUSINESS IN
BASIC CAPITAL BUSINESS ADDRESS WHICH EMPLOYMENT IS
MANAGEMENT, INC. CONDUCTED
<S> <C> <C>
Karl L. Blaha, President 10670 N. Central Expwy. President, Basic Capital
Suite 300 Management, Inc.
Dallas, Texas 75231
Thomas A. Holland, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
and Chief Financial Dallas, Texas 75231 Management, Inc.
Officer
Bruce A. Endendyk, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
Dallas, Texas 75231 Management, Inc.
David W. Starowicz, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
- Commercial Asset Dallas, Texas 75231 Management, Inc.
Management
Steven K. Johnson, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
- Residential Asset Dallas, Texas 75231 Management, Inc.
Management
Robert A. Waldman, 10670 N. Central Expwy. Senior Vice President,
Senior Vice President, Suite 600 General Counsel and
Secretary and General Dallas, Texas 75231 Secretary, Basic Capital
Counsel Management, Inc.
</TABLE>
