U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Anzo Peter D.
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(Last) (First) (Middle)
c/o Vinings Investment Properties Trust
3111 Paces Mill Road, Suite A-200
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(Street)
Atlanta GA 30339
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Vinings Investment Properties Trust (VIPIS)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
April, 1998
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ ] 10% Owner
[ X ] Officer (give title below) [ X ] Other (specify below)
President, Chief Executive Officer and Trustee
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7. Individual or Joint/Group Filing (Check applicable line)
[X ] Form filed by one Reporting Person [ ] Form filed by more than one
Reporting Person
<PAGE>
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Shares of beneficial interest,
without par value 4/06/98 P 1,000 A $4.50 88,312 D
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Shares of beneficial interest,
without par value 18,589 I (1)
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially
Owned (e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
None.
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<FN>
Explanation of Responses:
(1) The reporting person directly owns 37.5% of the common stock of A&P
Investors, Inc. ("A&P"), which directly owns 49,570 shares of beneficial
interest of the Issuer (the "Shares"). Consequently, the reporting person may be
deemed to have an indirect pecuniary interest in 37.5% of the 49,570 Shares, or
18,589 Shares, in which A&P has a direct pecuniary interest. The reporting
person disclaims beneficial ownership of those securities in which the reporting
person may be deemed to have an indirect pecuniary interest, and this report
shall not be deemed an admission that such person is the beneficial owner of
such securities for purposes of Section 16 or for any other purpose.
</FN>
</TABLE>
<PAGE>
/s/ Peter D. Anzo 5/5/98
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Alternatively, this Form is permitted to be submitted to the Commission
in electronic format at the option of the reporting person pursuant to
ruke 101(b)(4) of Regulatiob S-T.
