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: FORM 4 : : OMB APPROVAL :
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:OMB NUMBER: 3235-0287 :
:EXPIRES: DECEMBER 31, 2001 :
:ESTIMATED AVERAGE BURDEN :
:HOURS PER RESPONSE..... 0.5 :
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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 TO 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*
The Goldman Sachs Group, Inc.
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(Last) (First) (Middle)
85 Broad Street
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(Street)
New York New York 10004
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
McNeil Real Estate Fund XXVII, L.P. Symbol: N/A
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3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
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4. Statement for Month/Year
01/00
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_____ Director ____ 10% Owner
_____ Officer (give title below) X Other (Specify below)
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Former 10% Owner
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7. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
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X Form filed by More than One Reporting Person
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<PAGE>
TABLE I-NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<TABLE>
<CAPTION>
1.Title of Security 2.Trans- 3.Trans- 4.Securities Acquired (A) 5.Amount of 6.Ownership 7.Nature of
(Instr. 3) action action or Disposed of (D) Securities Bene- Form: Direct Indirect
Date Code (Instr. 3, 4 and 5) ficially Owned (D) or Beneficial
(Month/ (Instr. 8) ------------------------ at End of Indirect (I) Ownership
Day/ ------------ Amount (A) or Price Month (Instr. (Instr. 4) (Instr. 4)
Year) Code V (D) 3 and 4)
- ------------------- --------- ------------ ------------------------ ------------------ -------------- ---------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Units of Limited
Partnership Interests 01/31/00 J(1) 0(1) D $0(1) 0 (1) (1)
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<FN>
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
Potential persons who are to respond to the collection of information contained in this form are not required
to respond unless the form displays a currently valid OMB control number.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v). SEC 1474 (7-97)
</FN>
</TABLE>
<PAGE>
FORM 4 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
1. Title of Derivative Security (Instr. 3)
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2. Conversion or Exercise Price of Derivative Security
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3. Transaction Date (Month/Date/Year)
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4. Transaction Code (Instr. 8)
Code V
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
(A) (D)
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6. Date Exercisable and Expiration Date (Month/Day/Year)
Date Exercisable Expiration Date
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7. Title and Amount of Underlying Securities (Instr. 3 and 4)
Title Amount or Number of Shares
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8. Price of Derivative Security (Instr. 5)
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9. Number of Derivative Securities Beneficially Owned at End of Month
(Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Explanation of Responses:
(1) See page 3 attached.
/s/ February 10, 2000
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**Signature of Reporting Person Date
See page 5 attached.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
Page 2
SEC 1474 (7/97)
<PAGE>
Form 4
Continuation Sheet
Item 1: The Goldman Sachs Group, Inc.
85 Broad Street
New York, New York 10004
Item 2: McNeil Real Estate Fund XXVII, L.P. - N/A
Item 4: January 2000
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Instruction 4(b)(v) list of other Reporting Persons:
This Form 4 is being filed by The Goldman Sachs Group, Inc. ("GSG"),
Whitehall Street Real Estate Limited Partnership XI ("Whitehall"), WH Advisors,
L.L.C. XI ("WH Advisors"), WXI/McN Realty L.L.C. ("WXI/McN") and Goldman, Sachs
& Co. ("GS&Co.", and, together with GSG, Whitehall, WH Advisors and WXI/McN, the
"Reporting Persons"). The principal business address for each of the Reporting
Persons (other than WXI/McN) is 85 Broad Street, New York, New York 10004. The
principal business address of WXI/McN is c/o Goldman, Sachs & Co. 100 Crescent
Court, Suite 100, Dallas, Texas 75201.
Explanation of Responses:
As previously reported in the Form 3, dated August 16, 1999, filed by
the Reporting Persons, on June 24, 1999, McNeil Real Estate Fund IX, Ltd.,
McNeil Real Estate Fund X, Ltd., McNeil Real Estate Fund XI, Ltd., McNeil Real
Estate Fund XII, Ltd., McNeil Real Estate Fund XIV, Ltd., McNeil Real Estate
Fund XV, Ltd., McNeil Real Estate Fund XX, L.P., McNeil Real Estate Fund XXI,
L.P., McNeil Real Estate Fund XXII, L.P., McNeil Real Estate Fund XXIII, L.P.,
McNeil Real Estate Fund XXIV, L.P., McNeil Real Estate Fund XXV, L.P., McNeil
Real Estate Fund XXVI, L.P., McNeil Real Estate Fund XXVII, L.P. (the
"Company"), Fairfax Associates II, Ltd., Hearth Hallow Associates, L.P., McNeil
Midwest Properties I, L.P., Regency North Associates, L.P., McNeil Summerhill I,
L.P. (collectively, the "McNeil Partnerships"), McNeil Partners, L.P., ("McNeil
Partners"), McNeil Investors, Inc., the general partner of McNeil Partners
("McNeil Investors"), McNeil Real Estate Management, Inc. ("McREMI"), McNeil
Summerhill, Inc. and Robert A. McNeil, entered into a definitive acquisition
agreement (the "Master Agreement") with WXI/McN which provides for WXI/McN and
its subsidiaries to acquire the McNeil Partnerships and certain assets of
McREMI. As a result of the execution and delivery of the Master Agreement,
WXI/McN, McNeil Partners, McNeil Investors, Robert A. McNeil, Carole J. McNeil
and Opal Partners, L.P., a California limited partnership ("Opal"), may be
deemed to constitute a "group" within the meaning of Section 13(d) of the
Securities Exchange Act of 1934, as amended. McNeil Partners, McNeil Investors,
Robert A. McNeil, and Carole J. McNeil are sometimes referred to in this Form 4
collectively as the "McNeil Persons".
On January 31, 2000 a wholly owned subsidiary of WXI/McN was merged
with and into the Company (the "Merger"). In connection with the Merger, all
outstanding units of limited partnership interest in the Company were converted
into the right to receive $9.88 in cash per unit of limited partnership
interest. In addition, on January 31, 2000, a special distribution of
approximately $1.10 in cash per unit of limited partnership interest in the
Company was declared, thus entitling limited partners of the Company to receive
an aggregate of approximately $10.98 in cash per unit of limited partnership
interest.
Page 3 of 5
<PAGE>
Form 4
Continuation Sheet
Item 1: The Goldman Sachs Group, Inc.
85 Broad Street
New York, New York 10004
Item 2: McNeil Real Estate Fund XXVII, L.P. - N/A
Item 4: January 2000
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Neither the present filing nor anything contained herein shall be
construed as an admission that the Reporting Persons together with the McNeil
Persons and Opal constitute a "person" or "group" for any purpose. Neither the
present filing nor anything contained herein shall be construed as an admission
that Whitehall together with the McNeil Persons and/or Opal constitute a
"person" or "group" for any purpose other than what they may be deemed to
constitute under Section 13(d) of the Exchange Act. The Reporting Persons
disclaim beneficial ownership of, and any pecuniary interest in, any shares or
units of limited partnership interests, including the units of limited
partnership interests beneficially owned by the McNeil Persons and/or Opal, and
neither the present filing nor anything contained herein shall be construed as
an admission otherwise.
Page 4 of 5
<PAGE>
Form 4
Continuation Sheet
Item 1: The Goldman Sachs Group, Inc.
85 Broad Street
New York, New York 10004
Item 2: McNeil Real Estate Fund XXVII, L.P. - N/A
Item 4: January 2000
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SIGNATURES:
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WHITEHALL STREET REAL ESTATE
LIMITED PARTNERSHIP XI
By: WH Advisors, L.L.C. XI,
its general partner
By: /s/ Susan Sack
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Name: Susan Sack
Title: Vice President
WH ADVISORS, L.L.C. XI
By: /s/ Susan Sack
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Name: Susan Sack
Title: Vice President
WXI/McN Realty L.L.C.
By: /s/ Susan Sack
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Name: Susan Sack
Title: Vice President
THE GOLDMAN SACHS GROUP, INC.
By: /s/ Roger S. Begelman
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Name: Roger S. Begelman
Title: Attorney-in-Fact
GOLDMAN, SACHS & CO.
By: /s/ Roger S. Begelman
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Name: Roger S. Begelman
Title: Attorney-in-Fact
Page 5 of 5
