Exhibit (a)(4)
<PAGE>
June , 2000
TO: UNIT HOLDERS OF BROWN-BENCHMARK PROPERTIES LIMITED
PARTNERSHIP
SUBJECT: OFFER TO PURCHASE UNITS by MP VALUE FUND 6, LLC; MP VALUE FUND
4, LLC; MORAGA FUND 1, L.P.; ACCELERATED HIGH YIELD INSTITUTIONAL
INVESTORS, LTD.; ACCELERATED HIGH YIELD INSTITUTIONAL FUND, LTD.;
ACCELERATED HIGH YIELD PENSION INVESTORS, LTD.; ACCELERATED
HIGH YIELD INCOME FUND 1, LTD.; MP-DEWAAY FUND, LLC; MP FALCON
FUND, LLC; and MACKENZIE SPECIFIED INCOME FUND, L.P. (collectively
the "Purchasers")
Dear Unit Holder:
You should recently have received our Offer to Purchase and related
Letter of Transmittal (the "Offer"), by which we are offering to purchase up to
125,000 Units of limited partnership interest (the "Units") in BROWN-BENCHMARK
PROPERTIES LIMITED PARTNERSHIP, an Delaware limited partnership (the
"Partnership"). We are hereby extending the Expiration Date of our Offer to July
3, 2000 and increasing our purchase price to:
$15 per Unit
less the amount of any distributions declared or made with respect to the Units
between May 5, 2000 and July 3, 2000, or such other date to which this Offer may
be further extended.
The Offer will provide you with an opportunity to liquidate all, or a
portion of, your investment in BROWN-BENCHMARK PROPERTIES LIMITED PARTNERSHIP
without the usual transaction costs associated with market sales or partnership
transfer fees.
After carefully reading the enclosed Offer, if you elect to tender your
Units, mail (using the enclosed pre-addressed, postage paid envelope) or
telecopy a duly completed and executed copy of the Letter of Transmittal (the
purple form) and Change of Address forms, and any other documents required by
the Letter of Transmittal, to the Depositary for the Offer at:
MacKenzie Patterson, Inc.,
1640 School Street
Moraga, California 94556
Facsimile: (925) 376-7983
E-Mail Address: [email protected]
If you have already tendered Units by submitting a Letter of
Transmittal (the pink form), there is no need to submit a new transmittal form.
All selling Unit holders will receive the highest price offered by the
Purchasers regardless of the date of tender or the form used.
If you have any questions or need assistance, please call the Depository at
800-854-8357.
This Offer expires (unless extended) July 3, 2000
