BROWN BENCHMARK PROPERTIES LIMITED PARTNERSHIP
SC TO-T/A, 2000-07-21
OPERATORS OF APARTMENT BUILDINGS
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                             -----------------------

                                 Amendment No. 2
                                       To
                                   SCHEDULE TO

         Tender Offer Statement Pursuant to Section 14(d)(1) or 13(e)(1)
                     of the Securities Exchange Act of 1934
                             -----------------------

                 BROWN-BENCHMARK PROPERTIES LIMITED PARTNERSHIP
                            (Name of Subject Company)

        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; MACKENZIE PATTERSON, INC. and
                      MACKENZIE SPECIFIED INCOME FUND, L.P.

                                    (Bidders)

                 ASSIGNEE UNITS OF LIMITED PARTNERSHIP INTERESTS
                         (Title of Class of Securities)

                                      NONE
                      (CUSIP Number of Class of Securities)
                             -----------------------
                                             Copy to:
    Christine Simpson                        Paul J. Derenthal, Esq.
    MacKenzie Patterson, Inc.                Derenthal & Dannhauser
    1640 School Street                       One Post Street, Suite 575
    Moraga, California  94556                San Francisco, California  94104
    (925) 631-9100                           (415) 981-4844

                     (Name, Address and Telephone Number of
                    Person Authorized to Receive Notices and
                       Communications on Behalf of Bidder)


[ ]      Check  box if any  part  of the fee  is  offset  as  provided  by  Rule
         0-11(a)(2)  and identify the filing with which the  offsetting  fee was
         previously paid. Identify the previous filing by registration statement
         number, or the Form or Schedule and the date of its filing.

         Amount Previously Paid:    $375
         Form or Registration Number:  Schedule TO
         Filing Party:  Above Named Bidders
         Date Filed:  May 5, 2000; June 2, 2000

[ ]      Check  the  box  if   the  filing   relates    solely  to   preliminary
         communications made before the commencement of a tender offer.

 Check the  appropriate  boxes below to designate any  transactions to which the
statement relates:

[X]      third party tender offer subject to Rule 14d-1.
[ ]      issuer tender offer subject to Rule 13e-4.
[ ]      going private transaction subject to Rule 13e-3
[ ]      amendment to Schedule 13D under Rule 13d-2

Check the following box if the filing is a final amendment reporting the results
of the tender offer: [X]


<PAGE>

                         FINAL AMENDMENT TO TENDER OFFER

     This final  amendment to Tender  Offer  Statement on Schedule TO relates to
the offer 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")  to purchase up to 125,000  assignee units of limited  partnership
interest (the "Units") in  BROWN-BENCHMARK  PROPERTIES LIMITED  PARTNERSHIP,  an
Delaware limited  partnership  (the "Issuer"),  the subject  company.  The Offer
terminated  on July 3, 2000.  The Offer  resulted in the tender by Unit holders,
and acceptance  for payment by the  Purchasers, of a total of 24,400 Units. Upon
completion  of the  Offer,  the Purchasers  held an  aggregate of  approximately
32,360 Units, or approximately 6.47% of the total outstanding Units.


<PAGE>



                                   SIGNATURES


         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:   July 21, 2000

MP VALUE FUND 4, LLC
By MacKenzie Patterson, Inc., Manager

         By:      /s/ C. E. Patterson
                  -------------------
                  C.E. Patterson,  President

MP VALUE FUND 6, LLC
By MacKenzie Patterson, Inc., Manager

         By:      /s/ C. E. Patterson
                  -------------------
                  C.E. Patterson,  President

MORAGA FUND 1, L.P.
By Moraga Partners, Inc., General Partner

         By:      /s/ C. E. Patterson
                  -------------------
                  C.E. Patterson,  President


ACCELERATED HIGH YIELD INSTITUTIONAL INVESTORS, LTD.
By MacKenzie Patterson, Inc., General Partner

         By:      /s/ C. E. Patterson
                  -------------------
                  C.E. Patterson,  President


ACCELERATED HIGH YIELD INSTITUTIONAL FUND, LTD.
By MacKenzie Patterson, Inc., General Partner

         By:      /s/ C. E. Patterson
                  -------------------
                  C.E. Patterson,  President

ACCELERATED HIGH YIELD PENSION INVESTORS, LTD.
By MacKenzie Patterson, Inc., General Partner

         By:      /s/ C. E. Patterson
                  -------------------
                  C.E. Patterson,  President


ACCELERATED HIGH YIELD INCOME FUND 1, LTD.
By MacKenzie Patterson, Inc., General Partner

         By:      /s/ C. E. Patterson
                  -------------------
                  C.E. Patterson,  President

MP-DEWAAY FUND, LLC
By MacKenzie Patterson, Inc., Manager

         By:      /s/ C. E. Patterson
                  -------------------
                  C.E. Patterson,  President



                                       2
<PAGE>



MP FALCON FUND, LLC
By MacKenzie Patterson, Inc., Manager

         By:      /s/ C. E. Patterson
                  -------------------
                  C.E. Patterson,  President

MACKENZIE SPECIFIED INCOME FUND, L.P., LP
By MacKenzie Patterson, Inc., General Partner

         By:      /s/ C. E. Patterson
                  -------------------
                  C.E. Patterson,  President

MACKENZIE PATTERSON, INC.

By:      /s/ C. E. Patterson
         -------------------
         C.E. Patterson,  President




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