<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 14D-1/A
TENDER OFFER STATEMENT PURSUANT TO SECTION 14(d)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 4)
(FINAL AMENDMENT)
----------------
HCW PENSION REAL ESTATE FUND LIMITED PARTNERSHIP
(Name of Subject Company)
COOPER RIVER PROPERTIES, L.L.C.
INSIGNIA PROPERTIES, L.P.
INSIGNIA PROPERTIES TRUST
APARTMENT INVESTMENT AND MANAGEMENT COMPANY
(Bidders)
UNITS OF LIMITED PARTNERSHIP INTEREST
(Title of Class of Securities)
NONE
(Cusip Number of Class of Securities)
----------------
PATRICK J. FOYE
EXECUTIVE VICE PRESIDENT
APARTMENT INVESTMENT AND MANAGEMENT COMPANY
1873 SOUTH BELLAIRE STREET, 17th FLOOR
DENVER, COLORADO 80222
(303) 757-8101
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications on Behalf of Bidders)
Copy to:
JOHN A. HEALY, ESQ.
ROGERS & WELLS LLP
200 PARK AVENUE
NEW YORK, NEW YORK 10166
(212) 878-8000
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<TABLE>
<CAPTION>
- ------------------ ------
CUSIP No. NONE 14D-1/A Page 2
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<S> <C> <C>
================================================================================
1. Name of Reporting Persons
S.S. or I.R.S. Identification Nos. of Above Persons
COOPER RIVER PROPERTIES, L.L.C.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Sources of Funds
AF
- --------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(e) or 2(f)
[ ]
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
DELAWARE
- --------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting Person
1,741
- --------------------------------------------------------------------------------
8. Check if the Aggregate Amount in Row 7 Excludes Certain Shares
[ ]
- --------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row 7
11.1%
- --------------------------------------------------------------------------------
10. Type of Reporting Person
OO
================================================================================
</TABLE>
<PAGE> 3
<TABLE>
<CAPTION>
- ------------------ ------
CUSIP No. NONE 14D-1/A Page 3
- ------------------ ------
<S> <C> <C>
================================================================================
1. Name of Reporting Persons
S.S. or I.R.S. Identification Nos. of Above Persons
INSIGNIA PROPERTIES, L.P.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Sources of Funds
WC
- --------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(e) or 2(f)
[ ]
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
DELAWARE
- --------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting Person
1,741
- --------------------------------------------------------------------------------
8. Check if the Aggregate Amount in Row 7 Excludes Certain Shares
[ ]
- --------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row 7
11.1%
- --------------------------------------------------------------------------------
10. Type of Reporting Person
PN
================================================================================
</TABLE>
<PAGE> 4
<TABLE>
<CAPTION>
- ------------------ ------
CUSIP No. NONE 14D-1/A Page 4
- ------------------ ------
<S> <C> <C>
================================================================================
1. Name of Reporting Persons
S.S. or I.R.S. Identification Nos. of Above Persons
INSIGNIA PROPERTIES TRUST
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Sources of Funds
NOT APPLICABLE
- --------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(e) or 2(f)
[ ]
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
MARYLAND
- --------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting Person
1,741
- --------------------------------------------------------------------------------
8. Check if the Aggregate Amount in Row 7 Excludes Certain Shares
[ ]
- --------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row 7
11.1%
- --------------------------------------------------------------------------------
10. Type of Reporting Person
OO
================================================================================
</TABLE>
<PAGE> 5
<TABLE>
<CAPTION>
- ------------------ ------
CUSIP No. NONE 14D-1/A Page 5
- ------------------ ------
<S> <C> <C>
================================================================================
1. Name of Reporting Persons
S.S. or I.R.S. Identification Nos. of Above Persons
APARTMENT INVESTMENT AND MANAGEMENT COMPANY
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Sources of Funds
NOT APPLICABLE
- --------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(e) or 2(f)
[ ]
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
MARYLAND
- --------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting Person
1,818
- --------------------------------------------------------------------------------
8. Check if the Aggregate Amount in Row 7 Excludes Certain Shares
[ ]
- --------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row 7
11.6%
- --------------------------------------------------------------------------------
10. Type of Reporting Person
CO
================================================================================
</TABLE>
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AMENDMENT NO. 4 TO SCHEDULE 14D-1
This Amendment No. 4 constitutes the final amendment to the Tender
Offer Statement on Schedule 14D-1 of Cooper River Properties, L.L.C. (the
"Purchaser"), Insignia Properties, L.P. ("IPLP"), Insignia Properties Trust
("IPT") and Apartment Investment and Management Company ("AIMCO"), originally
filed with the Commission on September 23, 1998, as amended by Amendment No. 1
filed with the Commission on October 19, 1998, Amendment No. 2 filed with the
Commission on November 17, 1998 and Amendment No. 3 filed with the Commission on
December 15, 1998 (the "Schedule 14D-1"). The Schedule 14D-1 relates to the
tender offer of the Purchaser for up to 4,000 of the outstanding units of
limited partnership interest (the "Units") of HCW Pension Real Estate Fund
Limited Partnership (the "Partnership"), at a purchase price of $475 per Unit,
net to the seller in cash, upon the terms and subject to the conditions set
forth in the Offer to Purchase dated September 23, 1998 (the "Offer to
Purchase") and the related Assignment of Partnership Interest (which, together
with any supplements or amendments, collectively constitute the "Offer").
Capitalized terms used but not defined herein have the meanings ascribed to them
in the Offer to Purchase and the original Schedule 14D-1.
ITEM 6. INTEREST IN SECURITIES OF THE SUBJECT COMPANY.
(a)-(b)At 5:00 p.m., New York time, on Monday, December 14, 1998, the
Offer expired pursuant to its terms. A total of 1,741 Units, representing
approximately 11.1% of the outstanding Units, were validly tendered and not
withdrawn pursuant to the Offer for the Purchase Price of $475.00. The Purchaser
has accepted for payment, and the Depositary has mailed checks in payment of,
all of those Units at the price of $475.00 per Unit.
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SIGNATURE
After due 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: January 15, 1999
COOPER RIVER PROPERTIES, L.L.C.
By: Insignia Properties, L.P.,
its managing member
By: Insignia Properties Trust,
its general partner
By: /s/ PATRICK J. FOYE
---------------------------------
Patrick J. Foye
Executive Vice President
INSIGNIA PROPERTIES, L.P.
By: Insignia Properties Trust,
its general partner
By: /s/ PATRICK J. FOYE
---------------------------------
Patrick J. Foye
Executive Vice President
INSIGNIA PROPERTIES TRUST
By: /s/ PATRICK J. FOYE
---------------------------------
Patrick J. Foye
Executive Vice President
APARTMENT INVESTMENT AND
MANAGEMENT COMPANY
By: /s/ PATRICK J. FOYE
---------------------------------
Patrick J. Foye
Executive Vice President
7
