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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------------
SCHEDULE 14D-1/A
TENDER OFFER STATEMENT PURSUANT TO SECTION 14(d)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 6)
(FINAL AMENDMENT)
AND
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
------------------------
SHELTER PROPERTIES VII LIMITED PARTNERSHIP
(Name of Subject Company)
MADISON RIVER PROPERTIES, L.L.C.
INSIGNIA PROPERTIES, L.P.
INSIGNIA PROPERTIES TRUST
INSIGNIA FINANCIAL GROUP, INC.
(Bidders)
UNITS OF LIMITED PARTNERSHIP INTEREST
(Title of Class of Securities)
NONE
(Cusip Number of Class of Securities)
------------------------
JEFFREY P. COHEN
SENIOR VICE PRESIDENT
INSIGNIA FINANCIAL GROUP, INC.
375 PARK AVENUE, SUITE 3401
NEW YORK, NEW YORK 10152
(212) 750-6070
(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
200 PARK AVENUE
NEW YORK, NEW YORK 10166
(212) 878-8000
------------------------
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14D-1/A and 13D
CUSIP No. NONE PAGE 2
- ------------------------------------------------------------------------------
1. Name of Reporting Persons
S.S. OR I.R.S Identification Nos. of Above Person
MADISON 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
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5. Check if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(e) OR 2(f) [ ]
- ------------------------------------------------------------------------------
6. Citizenship or Place of Organization
DELAWARE
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7. Aggregate Amount Beneficially Owned by Each Reporting Person
2,427
- ------------------------------------------------------------------------------
8. Check if the Aggregate Amount in Row 7 Excludes Certain Shares
[ ]
- ------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row 7
14.0%
- ------------------------------------------------------------------------------
10. Type of Reporting Person
OO
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14D-1/A and 13D
CUSIP NO. NONE PAGE 3
- ------------------------------------------------------------------------------
1. Name of Reporting Persons
S.S. OR I.R.S Identification Nos. of Above Person
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
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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
2,427
- ------------------------------------------------------------------------------
8. Check if the Aggregate Amount in Row 7 Excludes Certain Shares
[ ]
- ------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row 7
14.0%
- ------------------------------------------------------------------------------
10. Type of Reporting Person
PN
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14D-1/A and 13D
CUSIP NO. NONE PAGE 4
- ------------------------------------------------------------------------------
1. Name of Reporting Persons
S.S. OR I.R.S Identification Nos. of Above Person
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
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7. Aggregate Amount Beneficially Owned by Each Reporting Person
2,427
- ------------------------------------------------------------------------------
8. Check if the Aggregate Amount in Row 7 Excludes Certain Shares
[ ]
- ------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row 7
14.0%
- ------------------------------------------------------------------------------
10. Type of Reporting Person
OO
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14D-1/A and 13D
CUSIP NO. NONE PAGE 5
- ------------------------------------------------------------------------------
1. Name of Reporting Persons
S.S. OR I.R.S Identification Nos. of Above Person
INSIGNIA FINANCIAL GROUP, INC.
- ------------------------------------------------------------------------------
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
DELAWARE
- ------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting Person
2,427
- ------------------------------------------------------------------------------
8. Check if the Aggregate Amount in Row 7 Excludes Certain Shares
[ ]
- ------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row 7
14.0%
- ------------------------------------------------------------------------------
10. Type of Reporting Person
CO
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14D-1/A and 13D
CUSIP NO. NONE PAGE 6
- ------------------------------------------------------------------------------
1. Name of Reporting Persons
S.S. OR I.R.S Identification Nos. of Above Person
ANDREW L. FARKAS
- ------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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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
UNITED STATES
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7. Aggregate Amount Beneficially Owned by Each Reporting Person
2,427
- ------------------------------------------------------------------------------
8. Check if the Aggregate Amount in Row 7 Excludes Certain Shares
[ ]
- ------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row 7
14.0%
- ------------------------------------------------------------------------------
10. Type of Reporting Person
IN
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AMENDMENT NO. 6 TO SCHEDULE 14D-1/SCHEDULE 13D
This Amendment No. 6 constitutes (i) the final Amendment to the Tender
Offer Statement on Schedule 14D-1 of Madison River Properties, L.L.C. (the
"Purchaser"), Insignia Properties, L.P. ("IPLP"), Insignia Properties Trust
("IPT") and Insignia Financial Group, Inc. ("Insignia"), originally filed with
the Commission on December 17, 1997, as amended by Amendment No. 1 filed with
the Commission on December 18, 1997, Amendment No. 2 filed with the Commission
on January 15, 1998, Amendment No. 3 filed with the Commission on January 26,
1998, Amendment No. 4 filed with the Commission on February 2, 1998 and
Amendment No. 5 filed with the Commission on February 10, 1998 (the "Schedule
14D-1"); and (ii) the initial Statement on Schedule 13D of the Purchaser, IPLP,
IPT, Insignia and Andrew L. Farkas (and together with the Schedule 14D-1, the
"Schedules"). The Schedules relate to the tender offer of the Purchaser to
purchase up to 7,000 of the outstanding units of limited partnership interest
(the "Units") of Shelter Properties VII Limited Partnership, at a purchase
price of $350 per Unit, net to the seller in cash, upon the terms and subject
to the conditions set forth in the Offer to Purchase dated December 17, 1997
(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 shall have the
meanings ascribed to them in the Schedule 14D-1 and the Offer to Purchase.
ITEM 6. INTEREST IN SECURITIES OF THE SUBJECT COMPANY.
(a)-(b) At 5:00 p.m., New York time, on Friday, February 6, 1998, the
Offer expired pursuant to its terms. A total of 2,180 Units, representing
approximately 12.6% of the outstanding Units, were validly tendered and not
withdrawn pursuant to the Offer. The Purchaser has accepted for payment, and
the Depositary has mailed checks in payment of, all of those Units at the
purchase price of $350 per Unit.
ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
(z)(1) Agreement of Joint Filing, dated March 11, 1998, among the
Purchaser, IPLP, IPT, Insignia and Andrew L. Farkas.
7
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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: March 12, 1998
MADISON RIVER PROPERTIES, L.L.C.
By: /s/ JEFFREY P. COHEN
----------------------------------------------
Jeffrey P. Cohen
Manager
INSIGNIA PROPERTIES, L.P.
By: Insignia Properties Trust,
its General Partner
By: /s/ JEFFREY P. COHEN
----------------------------------------------
Jeffrey P. Cohen
Senior Vice President
INSIGNIA PROPERTIES TRUST
By: /s/ JEFFREY P. COHEN
----------------------------------------------
Jeffrey P. Cohen
Senior Vice President
INSIGNIA FINANCIAL GROUP, INC.
By: /s/ FRANK M. GARRISON
----------------------------------------------
Frank M. Garrison
Executive Managing Director
SOLELY FOR PURPOSES OF, AND INSOFAR AS THIS FILING
CONSTITUTES, THE STATEMENT ON SCHEDULE 13D
/s/ ANDREW L. FARKAS
--------------------------------------------------
ANDREW L. FARKAS
8
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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(z)(1) Agreement of Joint Filing, dated March 12, 1998, among the
Purchaser, IPLP, IPT, Insignia and Andrew L. Farkas.
9
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EXHIBIT (z)(1)
AGREEMENT OF JOINT FILING
Madison River Properties, L.L.C., Insignia Properties, L.P., Insignia
Properties Trust, Insignia Financial Group, Inc. and Andrew L. Farkas hereby
agree that the Statement on Schedule 13D to which this agreement is attached as
an exhibit, and all further amendments thereto, shall be filed on behalf of
each of them. This agreement is intended to satisfy the requirements of Rule
13d-1(f)(1)(iii) under the Securities Exchange Act of 1934, as amended.
Dated: March 12, 1998
MADISON RIVER PROPERTIES, L.L.C.
By: /s/ JEFFREY P. COHEN
----------------------------------------------
Jeffrey P. Cohen
Manager
INSIGNIA PROPERTIES, L.P.
By: Insignia Properties Trust,
its General Partner
By: /s/ JEFFREY P. COHEN
----------------------------------------------
Jeffrey P. Cohen
Senior Vice President
INSIGNIA PROPERTIES TRUST
By: /s/ JEFFREY P. COHEN
----------------------------------------------
Jeffrey P. Cohen
Senior Vice President
INSIGNIA FINANCIAL GROUP, INC.
By: /s/ FRANK M. GARRISON
----------------------------------------------
Frank M. Garrison
Executive Managing Director
/s/ ANDREW L. FARKAS
--------------------------------------------------
ANDREW L. FARKAS