SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3 )
Atlantic Gulf Communities Corporation
(Name of Issuer)
Common Stock
(Title of class of securities)
048556104
(CUSIP number)
Check the following box if a fee is being paid with this statement [ ].
- ----------
*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 the
disclosures provided in a prior cover page.
The information required in 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>
CUSIP No. 048556104 13G Page 2 of 13 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON(S)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)
Morgan Stanley Dean Witter & Co.
IRS # 39-314-5972
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
- --------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6. SHARED VOTING POWER
EACH 2,458,910
REPORTING --------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
2,761,715
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,761,715
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
21.80%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IA, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 048556104 13G Page 3 of 13 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON(S)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)
Morgan Stanley Dean Witter Investment Management Inc.
IRS # 13-304-0307
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
- --------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6. SHARED VOTING POWER
EACH 1,683,330 **
REPORTING --------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
1,986,135 **
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,986,135 **
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
15.68% **
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IA, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
**Includes 1,104,024 shares, representing approximately
8.72% of the class, held by Morgan Stanley Dean Witter
Institutional Fund, Inc. - US Real Estate Portfolio
<PAGE>
CUSIP No. 048556104 13G Page 4 of 13 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON(S)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)
Morgan Stanley Dean Witter Institutional Fund, Inc. - U.S. Real Estate Portfolio
IRS # 13-3808424
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
- --------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6. SHARED VOTING POWER
EACH 917,914
REPORTING --------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
1,104,024
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,104,024
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.72%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 048556104 13G Page 5 of 13 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON(S)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)
Van Kampen Asset Management Inc.
IRS # 13-5130700
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
- --------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6. SHARED VOTING POWER
EACH 775,580 **
REPORTING --------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
775,580 **
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
775,580 **
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.12% **
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IA, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
**Includes 426,124 shares, representing approximately 3.36%
of the class, held by the Van Kampen Asset Management
Life Investment Trust - Real Estate Securities Fund.
<PAGE>
CUSIP No. 048556104 13G Page 6 of 13 Pages
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON(S)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)
Van Kampen Asset Management Life Investment Trust - Real Estate
Securities Fund
IRS # 76-0467325
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
- --------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6. SHARED VOTING POWER
EACH 426,124
REPORTING --------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
426,124
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
426,124
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.36%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 048556104 13G Page 7 of 13 Pages
Item 1. (a) Name of Issuer:
Atlantic Gulf Communities Corporation
--------------------------------------------------------------
(b) Address of Issuer's Principal Executive Offices:
2601 South Bayshore Drive
Miami, FL 33133
--------------------------------------------------------------
Item 2. (a) Name of Person Filing:
(a) Morgan Stanley Dean Witter & Co.
(b) Morgan Stanley Dean Witter Investment Management Inc.
(c) Morgan Stanley Dean Witter Institutional Fund, Inc.
- U.S. Real Estate Portfolio
(d) Van Kampen Asset Management Inc.
(e) Van Kampen Asset Management Life Investment Trust
- Real Estate Securities Fund
--------------------------------------------------------------
(b) Address of Principal Business Office, or if None, Residence:
(a) 1585 Broadway
New York, New York 10036
(b) 1221 Avenue of the Americas
New York, New York 10020
(c) 1221 Avenue of the Americas
New York, New York 10020
(d) One Parkview Plaza
Oakbrook Terrace, IL 60181
(e) One Parkview Plaza
Oakbrook Terrace, IL 60181
--------------------------------------------------------------
(c) Citizenship:
Incorporated by reference to Item 4 of the
cover page pertaining to each reporting person.
-------------------------------------------------
(d) Title of Class of Securities:
Common Stock
--------------------------------------------------------------
(e) CUSIP Number:
048556104
-------------------------------------------------
Item 3. (a) Morgan Stanley Dean Witter & Co. is (e) an Investment Adviser
registered under Section 203 of the Investment Advisers Act of
1940.
(b) Morgan Stanley Dean Witter Investment Management Inc. is (e)
an Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940.
(c) Morgan Stanley Dean Witter Institutional Fund, Inc. is (d) an
Investment Company registered under Section 8 of the
Investment Company Act of 1940.
(d) Van Kampen Asset Management Inc. is (e) an Investment Adviser
registered under Section 203 of the Investment Advisers Act of
1940.
(e) Van Kampen Asset Management Life Investment Trust-Real Estate
Securities Fund is (d) an Investment Company registered under
Section 8 of the Investment Company Act of 1940.
<PAGE>
CUSIP No. 048556104 13-G Page 8 of 13 Pages
Item 4. Ownership.
Incorporated by reference to Items (5) - (9) and (11) of the
cover page.
Item 5. Ownership of Five Percent or Less of a Class.
a) Inapplicable
b) Inapplicable
c) Inapplicable
d) Inapplicable
e) As of the date hereof, Van Kampen Asset Management Life
Investment Trust - Real Estate Securities Fund has ceased to
be the beneficial owner of more than five percent of the
class of securities.
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
a),b),c) and d)
Accounts managed on a discretionary basis by Van Kampen
Asset Management Inc. and Morgan Stanley Dean Witter
Investment Management Inc., wholly owned subsidiaries of
Morgan Stanley Dean Witter & Co., are known to have the
right to receive or the power to direct the receipt of
dividends from, or the proceeds from, the sale of such
securities. No such account other than the Morgan Stanley
Dean Witter Institutional Fund, Inc. holds more than 5
percent of the class.
e) Inapplicable
Item 7. Identification and Classification of the Subsidiary which Acquired
the Security Being Reported on By the Parent Holding Company.
Item 8. Identification and Classification of Members of the Group.
Item 9. Notice of Dissolution of Group.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having
such purpose or effect.
<PAGE>
CUSIP No. 048556104 13-G Page 9 of 13 Pages
Signature.
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.
Date: February 10, 1999
Signature: /s/ Bruce Bromberg
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Name/Title Bruce Bromberg / Vice President Morgan Stanley & Co. Incorporated
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MORGAN STANLEY DEAN WITTER & CO.
Date: February 10, 1999
Signature: /s/ Donald P. Ryan
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Name/Title Donald P. Ryan / Principal Morgan Stanley Dean Witter Investment
Management Inc.
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MORGAN STANLEY DEAN WITTER INVESTMENT MANAGEMENT INC.
Date: February 10, 1999
Signature: /s/ Harold J. Schaaff Jr.
-----------------------------------------------------------------
Name/Title: Harold J. Schaaff Jr./Vice President, Morgan Stanley Dean Witter
Institutional Fund, Inc.
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MORGAN STANLEY DEAN WITTER INSTITUTIONAL FUND, INC. - U.S. REAL
ESTATE PORTFOLIO
Date: February 10, 1999
Signature: /s/ Donald P. Ryan
-----------------------------------------------------------------
Name/Title: Donald P. Ryan/ Principal Morgan Stanley Dean Witter Investment
Management Inc.
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VAN KAMPEN ASSET MANAGEMENT INC.
Date: February 15, 1999
Signature: /s/ Dennis McDonnell
-----------------------------------------------------------------
Name/Title: Dennis McDonnell/President, Van Kampen Asset Management Life
Investment Trust
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VAN KAMPEN ASSET MANAGEMENT LIFE INVESTMENT TRUST - REAL ESTATE
SECURITIES FUND
INDEX TO EXHIBITS PAGE
----------------- ----
EXHIBIT 1 Agreement to Make a Joint Filing 10
EXHIBIT 2 Secretary's Certificate Authorizing Bruce Bromberg 11
to Sign on behalf of Morgan Stanley Dean Witter & Co.
EXHIBIT 3 Secretary's Certificate Authorizing Donald P. Ryan 12 & 13
to sign on behalf of Van Kampen Asset Management Inc.
* Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).
(022597DTI)
<PAGE>
CUSIP No. 025930108 13-G Page 10 of 13 Pages
EXHIBIT 1 TO SCHEDULE 13G
---------------------------------------------------
FEBRUARY 15, 1999
---------------------------------------------------
MORGAN STANLEY DEAN WITTER & CO., MORGAN STANLEY DEAN WITTER
INVESTMENT MANAGEMENT INC. , MORGAN STANLEY DEAN WITTER
INSTITUTIONAL FUND, INC. - U.S. REAL ESTATE PORTFOLIO, VAN
KAMPEN ASSET MANAGEMENT INC. and VAN KAMPEN ASSET MANAGEMENT
LIFE INVESTMENT TRUST hereby agree that, unless
differentiated, this Schedule 13G is filed on behalf of each
of the parties.
MORGAN STANLEY DEAN WITTER & CO.
BY: /s/ Bruce Bromberg
--------------------------------------------------------------------
Bruce Bromberg / Vice President Morgan Stanley & Co. Incorporated
MORGAN STANLEY DEAN WITTER INVESTMENT MANAGEMENT INC.
BY: /s/ Donald P. Ryan
--------------------------------------------------------------------
Donald P. Ryan / Principal Morgan Stanley Dean Witter Investment
Management Inc.
MORGAN STANLEY DEAN WITTER INSTITUTIONAL FUND, INC. - U.S.
REAL ESTATE PORTFOLIO
BY: /s/ Harold J. Schaff, Jr.
--------------------------------------------------------------------
Harold J. Schaaff Jr./Vice President, Morgan Stanley Dean Witter
Institutional Fund, Inc.
VAN KAMPEN ASSET MANAGEMENT INC.
BY: /s/ Donald P. Ryan
--------------------------------------------------------------------
Donald P. Ryan / Principal Morgan Stanley Dean Witter Investment
Management Inc.
VAN KAMPEN ASSET MANAGEMENT LIFE INVESTMENT TRUST - REAL ESTATE
SECURITIES FUND
BY: /s/ Dennis McDonnell
--------------------------------------------------------------------
Dennis McDonnell / President, Van Kampen Asset Management Life
Investment Trust
* Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).
<PAGE>
Page 11 of 13 Pages
EXHIBIT 2 -------------------
MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
SECRETARY'S CERTIFICATE
I, Charlene R. Herzer, a duly elected and acting Assistant Secretary of
Morgan Stanley, Dean Witter, Discover & Co., a corporation organized and
existing under the laws of the State of Delaware (the "Corporation"), certify
that as approved by a Unanimous Consent of Directors in Lieu of a Meeting dated
as of May 31, 1997, the following persons are each authorized to sign reports
to be filed under Sections 13 and 16 of the Securities Exchange Act of 1934 on
behalf of the Corporation, and such authorizations are in full force and
effect as of this date:
Stuart J.M. Breslow
Robert G. Koppenol
Bruce Bromberg
Robin Sherak
IN WITNESS WHEREOF, I have hereunto set my name and affixed the seal of
the Corporation as of the 3rd day of June, 1997.
/s/ Charlene R. Herzer
------------------------
Charlene R. Herzer
Assistant Secretaty
<PAGE>
Page 12 of 13 Pages
Exhibit 3
ASSISTANT SECRETARY'S CERTIFICATE
OF
VAN KAMPEN AMERICAN CAPITAL ASSET MANAGEMENT, INC.
I, James J. Boyne, the duly elected and appointed Assistant Secretary of
Van Kampen American Capital Asset Management, Inc., a Delaware corporation (the
"Corporation"), hereby certifies that:
a) Attached hereto, as Exhibit A, is a true and correct copy of
the Consent in Lieu of the Meeting of the Board of Directors of the
Corporation authorizing the proper signatories to sign Section 13 and
Section 16 filings under the Securities Exchange Act of 1934.
IN WITNESS WHEREOF, the Corporation has caused this certificate of the
Assistant Secretary to be signed by James J. Boyne on this 12th day of February,
1997.
/s/ JAMES J. BOYNE
--------------------------
James J. Boyne
<PAGE>
Page 13 of 13 Pages
CONSENT IN LIEU OF A MEETING
OF THE
BOARD OF DIRECTORS OF
VAN KAMPEN AMERICAN CAPITAL ASSET MANAGEMENT, INC.
(a Delaware corporation)
The undersigned, being all of the members of the Board of Directors of Van
Kampen American Capital Asset Management, Inc., a Delaware corporation (the
"Corporation"), in lieu of holding a special meeting of the Board of Directors
of the Corporation, hereby adopt the following resolutions by unanimous written
consent pursuant to Section 141(f) of the General Corporation Law of the State
of Delaware:
RESOLVED, that any Vice President, Harold J. Schaaff, Jr., and Donald
P. Ryan (the "Proper Officers") are each authorized to sign on behalf of
the Corporation any reports to be filed under Section 13 and Section 16 of
the Securities Exchange Act of 1934, as amended, and the rules and
regulations thereunder, with the Securities and Exchange Commission, each
such authorization to cease automatically upon such individual's
termination of employment with any affiliate of the Corporation; and
FURTHER RESOLVED, that all prior actions taken by the Proper Officers
that are within the authority conferred by the foregoing resolution are
approved, ratified and confirmed in all respects; and
FURTHER RESOLVED, that any and all actions to be taken, caused to be
taken or heretofore taken by any officer of the Corporation in executing
any and all documents, agreements and instruments and in taking any and all
steps (including the payment of all expenses) deemed by such officer as
necessary or desirable to carry out the intents and purposes of the
foregoing resolutions are authorized, ratified and confirmed.
The actions taken by this consent shall have the same force and effect as
if taken at a special meeting of the Board of Directors duly called and
constituted pursuant to the By-Laws of the Corporation and the laws of the State
of Delaware.
This consent may be executed in two or more counterparts, each of which
shall be deemed an original for all purposes, and together shall constitute one
and the same Consent.
IN WITNESS WHEREOF, the undersigned have executed this
consent of the Board of Directors as of the 11th day of February, 1997.
