<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 41)
AMERICAN REALTY TRUST, INC.
-------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.01 par value
-------------------------------------------------------------------------------
(Title of Class of Securities)
029177-40-9
-------------------------------------------------------------------------------
(CUSIP Number)
Robert A. Waldman
10670 N. Central Expressway, Suite 600
Dallas, Texas 75231
(214) 692-4758
-------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
June 15, 2000
-------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rules 13d-1(b)(3) or (4), check the following box [ ].
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*The remainder of this cover page shall be filled out for a reporting persons's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on 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> 2
CUSIP No. 029177-40-9
<TABLE>
-------------------------------------------------------------------------------------------------------------------
<S> <C>
1) Names of Reporting Persons I.R.S. Identification Nos. of Above Persons (entities only)
Basic Capital Management, Inc., FEI No. 75-2261065
-------------------------------------------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
-------------------------------------------------------------------------------------------------------------------
3) SEC Use Only
-------------------------------------------------------------------------------------------------------------------
WC
4) Source of Funds (See Instructions)
-------------------------------------------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)
-------------------------------------------------------------------------------------------------------------------
Nevada
6) Citizenship or Place of Organization
-------------------------------------------------------------------------------------------------------------------
5,897,567
7) Sole Voting Power
Number of -------------------------------------------------------------------------------------------------
Shares Bene- -0-
ficially 8) Shared Voting Power
Owned by -------------------------------------------------------------------------------------------------
Each Report- 5,897,567
ing Person 9) Sole Dispositive Power
With -------------------------------------------------------------------------------------------------
-0-
10) Shared Dispositive Power
-------------------------------------------------------------------------------------------------------------------
5,897,567
11) Aggregate Amount Beneficially Owned by Each Reporting Person
-------------------------------------------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
-------------------------------------------------------------------------------------------------------------------
55.8%
13) Percent of Class Represented by Amount in Row (11)
-------------------------------------------------------------------------------------------------------------------
CO
14) Type of Reporting Person (See Instructions)
</TABLE>
<PAGE> 3
CUSIP No. 029177-40-9
<TABLE>
--------------------------------------------------------------------------------------------------------------------
<S> <C>
1) Names of Reporting Persons I.R.S. Identification Nos. of Above Persons (entities only)
National Operating, L.P., FEI No. 75-2163170
--------------------------------------------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
--------------------------------------------------------------------------------------------------------------------
3) SEC Use Only
--------------------------------------------------------------------------------------------------------------------
WC
4) Source of Funds (See Instructions)
--------------------------------------------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)
--------------------------------------------------------------------------------------------------------------------
Delaware
6) Citizenship or Place of Organization
--------------------------------------------------------------------------------------------------------------------
195,732
7) Sole Voting Power
Number of --------------------------------------------------------------------------------------------------
Shares Bene- -0-
ficially 8) Shared Voting Power
Owned by --------------------------------------------------------------------------------------------------
Each Report- 195,732
ing Person 9) Sole Dispositive Power
With --------------------------------------------------------------------------------------------------
-0-
10) Shared Dispositive Power
--------------------------------------------------------------------------------------------------------------------
195,732
11) Aggregate Amount Beneficially Owned by Each Reporting Person
--------------------------------------------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
--------------------------------------------------------------------------------------------------------------------
11.9%
13) Percent of Class Represented by Amount in Row (11)
--------------------------------------------------------------------------------------------------------------------
PN
14) Type of Reporting Person (See Instructions)
</TABLE>
<PAGE> 4
CUSIP No. 029177-40-9
<TABLE>
<S> <C>
--------------------------------------------------------------------------------------------------------------------
1) Names of Reporting Persons I.R.S. Identification Nos. of Above Persons (entities only)
The Gene E. Phillips Children's Trust, I.D. No. 13-6599759
--------------------------------------------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
-------------------------------------------------------------------------------------------------------------------
3) SEC Use Only
-------------------------------------------------------------------------------------------------------------------
4) Source of Funds (See Instructions)
-------------------------------------------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)
-------------------------------------------------------------------------------------------------------------------
Texas
6) Citizenship or Place of Organization
-------------------------------------------------------------------------------------------------------------------
30,332
7) Sole Voting Power
Number of -------------------------------------------------------------------------------------------------
Shares Bene- -0-
ficially 8) Shared Voting Power
Owned by -------------------------------------------------------------------------------------------------
Each Report- 30,332
ing Person 9) Sole Dispositive Power
With -------------------------------------------------------------------------------------------------
-0-
10) Shared Dispositive Power
-------------------------------------------------------------------------------------------------------------------
30,332
11) Aggregate Amount Beneficially Owned by Each Reporting Person
-------------------------------------------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
-------------------------------------------------------------------------------------------------------------------
0.3%
13) Percent of Class Represented by Amount in Row (11)
-------------------------------------------------------------------------------------------------------------------
OO
14) Type of Reporting Person (See Instructions)
</TABLE>
<PAGE> 5
CUSIP No. 029177-40-9
<TABLE>
<S> <C>
-------------------------------------------------------------------------------------------------------------------
1) Names of Reporting Persons I.R.S. Identification Nos. of Above Persons (entities only)
Transcontinental Realty Investors, Inc., FEI No. 94-656582
-------------------------------------------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
-------------------------------------------------------------------------------------------------------------------
3) SEC Use Only
-------------------------------------------------------------------------------------------------------------------
4) Source of Funds (See Instructions)
-------------------------------------------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)
-------------------------------------------------------------------------------------------------------------------
6) Citizenship or Place of Organization Nevada
-------------------------------------------------------------------------------------------------------------------
820,849
7) Sole Voting Power
Number of -------------------------------------------------------------------------------------------------
Shares Bene- -0-
ficially 8) Shared Voting Power
Owned by -------------------------------------------------------------------------------------------------
Each Report- 820,849
ing Person 9) Sole Dispositive Power
With -------------------------------------------------------------------------------------------------
-0-
10) Shared Dispositive Power
-------------------------------------------------------------------------------------------------
820,849
11) Aggregate Amount Beneficially Owned by Each Reporting Person
-------------------------------------------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
-------------------------------------------------------------------------------------------------------------------
7.8%
13) Percent of Class Represented by Amount in Row (11)
-------------------------------------------------------------------------------------------------------------------
CO
14) Type of Reporting Person (See Instructions)
</TABLE>
<PAGE> 6
ITEM 1. SECURITY AND ISSUER
This Amendment to Statement on Schedule 13D relates to the shares of
Common Stock, par value $0.01 per share (the "Shares") of AMERICAN REALTY
TRUST, INC., a Georgia corporation (the "Company" or the "Issuer") and further
amends the original Statement on Schedule 13D as amended by Amendment Nos. 1
through 40 thereof (the "Amended Statement") filed by and on behalf of the
"Reporting Persons" described below. The principal executive offices of the
Company are located at 10670 N. Central Expressway, Suite 600, Dallas, Texas
75231. The CUSIP number of the Shares is 029177-40-9.
This Amendment No. 41 to Schedule 13D is being filed due to a decrease
by more than 1% in the percentage ownership by BCM of Shares during the period
from June 15, 2000 to June 30, 2000. The decrease was due to margin sales by
brokers of Shares pledged in margin accounts by BCM.
ITEM 2. IDENTITY AND BACKGROUND
Item 2 of the Amended Statement is hereby further amended as follows:
This Amendment is being filed on behalf of Basic Capital Management,
Inc., a Nevada corporation ("BCM"), National Operating, L.P., a Delaware
limited partnership ("NOLP"), The Gene E. Phillips Children's Trust, a trust
formed under the laws of the state of Texas (the "GEP Trust"), and
Transcontinental Realty Investors, Inc., a Nevada corporation ("TCI"), each of
which has their principal executive offices located at 10670 N. Central
Expressway, Suite 600, Dallas, Texas 75231. All of BCM, NOLP, GEP Trust and TCI
are collectively referred to as the "Reporting Persons." The Reporting Persons
may be deemed to constitute a "person" within the meaning of Section 13(d) of
the Securities Exchange Act of 1934, as amended, because BCM is beneficially
owned by a trust established for the benefit of Gene E. Phillips' children and
the executive officers of TCI are also executive officers of BCM. Mr. Phillips'
son, Ryan T. Phillips, serves as a director of BCM and is a beneficiary of the
GEP Trust. NRLP Management Corp. ("NMC"), a wholly-owned subsidiary of the
Company, is the general partner of NOLP. The executive officers of NMC are also
executive officers of BCM and TCI.
I. BCM is a corporation organized and existing under the laws of the
State of Nevada. BCM's principal business activity is the provision of advisory
services for real estate and investment trusts and other real estate entities.
The name, business address and capacity with BCM of each of the executive
officers or directors of BCM are set forth on Schedule 1 attached hereto. Each
of the individuals listed on Schedule 1 is a citizen of the United
-1-
<PAGE> 7
States of America. BCM is owned by Realty Advisors, Inc., a Nevada corporation.
Realty Advisors, Inc. is owned by a trust established for the benefit of the
children of Gene E. Phillips.
II. NOLP is a Delaware limited partnership, engaged in the business of
investing in real estate and real estate related assets. NOLP has no officers
or directors. The general of NOLP is NMC. The name, business address and
capacity with NMC of each of the executive officers or directors of NMC are set
forth on Schedule 2 attached hereto. Each of the individuals listed on Schedule
2 is a citizen of the United States of America.
III. The GEP Trust is a trust formed under the laws of the state of
Texas for the benefit of the children of Mr. Gene E. Phillips. The trustee of
the GEP Trust is Donald W. Phillips, brother of Gene E. Phillips.
Mr. Gene E. Phillips' business address is 10670 N. Central Expressway,
Suite 600, Dallas, Texas 75231. Mr. Gene E. Phillips' present principal
occupation is Chief Executive Officer and President of Syntek West, Inc. Mr.
Gene E. Phillips is a citizen of the United States of America.
Mr. Donald W. Phillips' business address is 10670 N. Central
Expressway, Suite 515, Dallas, Texas 75231. Mr. Donald W. Phillips' present
principal occupation is President and owner of Big D Oil Field Equipment Sales.
Mr. Donald W. Phillips is a citizen of the United States of America.
IV. TCI is a real estate investment company organized and existing
under the laws of the state of Nevada. TCI's principal business activity is
investment in real estate. The name, business address and capacity with TCI of
each of the executive officers or directors of TCI are set forth on Schedule 3
attached hereto. Each of the individuals listed on Schedule 3 is a citizen of
the United States of America.
Individuals whose names are not listed on Schedules 1, 2 or 3 who may
have previously been referred to as executive officers or directors of BCM, NMC
or TCI, respectively in Amendment No. 40 to Schedule 13D no longer occupy those
positions, each having resigned or been removed prior to the date of this
Amendment.
(d) During the last five years, none of BCM, NOLP, GEP Trust or TCI,
nor any of their respective executive officers or directors has been convicted
in a criminal proceeding (excluding traffic violations and/or similar
misdemeanors).
(e) During the last five years, none of BCM, NOLP, GEP Trust or TCI,
nor any of their respective executive officers or directors has been a party to
any civil proceeding of a judicial or
-2-
<PAGE> 8
administrative body of competent jurisdiction which resulted in a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding
any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The consideration paid to purchase the Shares described in Item 5
below is from working capital of each of the Reporting Persons and no part of
the purchase price is represented by funds or other consideration borrowed or
otherwise obtained for the purpose of acquiring, holding, trading or voting the
Shares. Each of the Reporting Persons have in the past and may in the future,
utilized margin accounts with various brokerage firms which accounts may, from
time to time, have debit balances and include certain of the Shares. Since
other securities are held in such accounts, it may be impracticable at any time
to determine the amounts, if any, borrowed with respect to the Shares and
interest costs vary with applicable costs and account balances. Certain of the
matters reported under Item 5 below are dispositions caused by sales from
margin accounts by brokerage firms pursuant to the terms of those account
agreements according to such brokerage firms.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 of the Amended Statement is hereby further amended as follows:
(a) According to the latest information available from the Issuer, as
of April 28, 2000, the total number of issued and outstanding Shares was
10,563,720 Shares. As of June 30, 2000, the following Shares were owned
directly and beneficially by the Reporting Persons set forth below:
<TABLE>
<CAPTION>
Name No. of Shares Owned Directly Approximate % Class
---- ---------------------------- -------------------
<S> <C> <C>
BCM 5,897,567 55.8%
NOLP 195,732 1.9%
GEP Trust 30,332 0.3%
TCI 820,849 7.8%
--------- -----
Totals: 6,944,480 65.7%
========= =====
</TABLE>
Pursuant to Rule 13d-3 under the Securities Exchange Act of 1934 (the
"Exchange Act"), each of the directors of BCM may be deemed to beneficially own
the number of Shares owned by BCM described above; each of the directors of NMC
as the general partner of NOLP may be deemed to beneficially own the Shares held
directly by NOLP; each of the directors of TCI may be deemed to beneficially own
the Shares held directly by TCI; Ryan T. Phillips as a beneficiary of the GEP
Trust may be deemed to beneficially own the Shares held directly by the GEP
Trust. Those individuals and
-3-
<PAGE> 9
the number of Shares deemed beneficially owned pursuant to Rule 13d-3, and the
approximate percent of the class, as well as the relationship, are set forth in
the following table:
<TABLE>
<CAPTION>
No. of Shares % of
Name of Director Entity Beneficially Owned Class
---------------- ------ ------------------ -----
<S> <C> <C> <C>
Ryan T. Phillips BCM 5,927,899 56.1%
Mickey Ned Phillips BCM 5,897,567 55.8%
Ted P. Stokely TCI 820,849 7.8%
R. Douglas Leonhard TCI 820,849 7.8%
Murray Shaw TCI 820,849 7.8%
Martin L. White TCI 820,849 7.8%
Edward G. Zampa TCI 820,849 7.8%
Karl L. Blaha NMC 195,732 1.9%
Collene C. Currie NMC 195,732 1.9%
Richard D. Morgan NMC 195,732 1.9%
------- ----
Total Units beneficially 6,944,480 65.7%
owned by Reporting Persons ========= =====
and individuals listed
above:
</TABLE>
(b) Each of the directors of BCM share voting and dispositive power
over the 5,897,567 Shares held by BCM. Each of the directors of BCM have shared
voting and dispotive power over the 820,849 Shares held by TCI. NMC as the
general partner of NOLP has the sole voting and dispository power over the
195,732 Shares held by NOLP; each of the directors of NMC have shared voting and
dispository power over the 195,732 Shares held by NOLP. The Trustee of the GEP
Trust has complete voting and dispository power over the 30,332 Shares held by
the GEP Trust.
(c) During the 60 calendar days ended June 30, 2000, except for the
transactions that are described below, the Reporting Persons and their
respective executive officers and directors did not engage in any transaction
in the Shares or any other equity interests derivative thereof. The following
table sets forth the acquisition and disposition transactions in the Shares
that have been effectuated during the 60 days ended June 30, 2000:
<TABLE>
<CAPTION>
No. of
Shares
Reporting Acquired Price per
Person Date (Disposed) Share Type of Transaction
------ ---- ---------- ----- -------------------
<S> <C> <C> <C> <C>
BCM 05/08/00 1,000 $16.225 Open Market Purchase
BCM 05/12/00 700 $16.00 Open Market Purchase
BCM 05/16/00 100 $16.125 Open Market Purchase
BCM 05/17/00 30,000 $16.4375 Open Market Purchase
BCM 05/22/00 900 $16.00 Open Market Purchase
BCM 05/31/00 8,000 $15.50 Open Market Purchase
</TABLE>
-4-
<PAGE> 10
<TABLE>
<CAPTION>
No. of
Shares
Reporting Acquired Price per
Person Date (Disposed) Share Type of Transaction
--------- ---- ---------- --------- -------------------
<S> <C> <C> <C> <C>
BCM 06/15/00 (500) $ 8.50 *
BCM 06/15/00 (7,000) $ 7.06 *
BCM 06/15/00 (21,900) $ 7.00 *
BCM 06/15/00 (37,000) $ 8.40 *
BCM 06/15/00 (35,000) $ 7.56 *
BCM 06/27/00 (78,500) $ 5.75 *
BCM 06/27/00 (5,000) $ 5.38 *
BCM 06/27/00 (5,000) $ 4.94 *
BCM 06/27/00 (5,000) $ 5.69 *
BCM 06/27/00 (7,500) $ 5.50 *
BCM 06/27/00 (2,000) $ 5.81 *
BCM 06/27/00 (500) $ 5.56 *
BCM 06/27/00 (2,000) $ 5.38 *
BCM 06/30/00 (200) $ 6.06 *
BCM 06/30/00 (1,800) $ 6.00 *
</TABLE>
----------
* Under varying arrangements during the period from June 15, 2000,
through June 30, 2000, certain brokerage firms where Shares were pledged by the
BCM allegedly foreclosed upon such arrangements and sold for the account of BCM
certain Shares pledged as indicated by the dispositions set forth above.
(d) No person other than the Reporting Person or its respective Board
of Directors or Trustees is known to have the right to receive or the power to
direct receipt of dividends from, or the proceeds of sale of, the Shares held
by each of BCM, NOLP, GEP Trust and TCI, subject to the matters set forth in
Item 6 below.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER
Item 6 of the Amended Statement is hereby further amended to read as
follows:
BCM has pledged 177,000 Shares to Foothill Capital, pledged 810,000
Shares to Preferred Bank, and pledged 260,000 Shares to United Pacific Bank
pursuant to loan agreements with such lenders.
All 820,849 Shares owned by TCI may be deemed to be "collateral" for
borrowings pursuant to margin or other account arrangements with Morgan Stanley
Dean Witter relating to a brokerage account of TCI, which is a stock margin
account maintained by TCI with such broker pursuant to customary brokerage
account arrangements. Such standard arrangements involve margin securities of up
to a specified percentage of the market value of
-5-
<PAGE> 11
the Shares, as well as other securities in such account, and bear interest at
varying rates and contain only standard default and similar provisions, the
operation of which should not give any other person immediate voting power or
investment power over the Shares.
All 30,332 Shares owned by the GEP Trust may be deemed to be
"collateral" for borrowings pursuant to margin or other account arrangements
with Morgan Stanley Dean Witter relating to a brokerage account of the GEP
Trust, which is a stock margin account maintained by the GEP Trust with such
broker pursuant to customary brokerage account arrangements. Such standard
arrangements involve margin securities of up to a specified percentage of the
market value of the Shares, as well as other securities in such account, and
bear interest at varying rates and contain only standard default and similar
provisions, the operation of which should not give any other person immediate
voting power or investment power over the Shares.
All 195,732 Shares owned by NOLP may be deemed to be "collateral" for
borrowings pursuant to margin or other account arrangements with Morgan Stanley
Dean Witter relating to a brokerage account of NOLP which is a stock margin
account maintained by NOLP with such broker pursuant to customary brokerage
account arrangements. Such standard arrangements involve margin securities of
up to a specified percentage of the market value of the Shares, as well as
other securities in such account, and bear interest at varying rates and
contain only standard default and similar provisions, the operation of which
should not give any other person immediate voting power or investment power
over the Shares.
Except as set forth in the preceding paragraphs, the Reporting Persons
do not have any contracts, arrangements, understandings or relationships (legal
or otherwise) with any person with respect to any securities of the Issuer,
including, but not limited to, transfer or voting of any of the securities,
finder's fees, joint ventures, loan or option arrangements, puts or calls,
guaranties of profits, division of profits or losses, or the giving or
withholding of proxies.
-6-
<PAGE> 12
SIGNATURES
After reasonable inquiry and to the best of their respective knowledge
and belief, the undersigned certify that the information set forth in this
Amendment No. 41 to Statement on Schedule 13D is true, complete and correct.
Dated: July 18, 2000.
BASIC CAPITAL MANAGEMENT, INC.
By: /s/ Karl L. Blaha
----------------------------------
Karl L. Blaha, President
NATIONAL OPERATING, L.P., acting by,
through and under its sole general
partner, NRLP MANAGEMENT CORP.
By: /s/ Karl L. Blaha
----------------------------------
Karl L. Blaha, President
GENE E. PHILLIPS CHILDREN'S TRUST
By: /s/ Donald W. Phillips
----------------------------------
Donald W. Phillips, Trustee
TRANSCONTINENTAL REALTY INVESTORS,
INC.
By: /s/ Karl L. Blaha
----------------------------------
Karl L. Blaha, President
-7-
<PAGE> 13
SCHEDULE 1
EXECUTIVE OFFICERS AND DIRECTORS OF
BASIC CAPITAL MANAGEMENT, INC.
<TABLE>
<CAPTION>
NAME AND CAPACITY WITH PRESENT BUSINESS IN
BASIC CAPITAL BUSINESS ADDRESS WHICH EMPLOYMENT IS
MANAGEMENT, INC. CONDUCTED
<S> <C> <C>
Ryan T. Phillips, 10670 N. Central Expwy. President, Signature
Director Sixth Floor Asset Management, Inc.
Dallas, Texas 75231
Mickey Ned Phillips, 264 Rolling Hills Circle President, Ned Phillips
Director Gaffney, SC 29340 Construction Company
Karl L. Blaha, President 10670 N. Central Expwy. President, Basic Capital
Suite 300 Management, Inc.
Dallas, Texas 75231
Thomas A. Holland, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
and Chief Financial Dallas, Texas 75231 Management, Inc.
Officer
Clifford C. Towns, Jr., 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
- Finance Dallas, Texas 75231 Management, Inc.
Bruce A. Endendyk, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
Dallas, Texas 75231 Management, Inc.
David W. Starowicz, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
- Commercial Asset Dallas, Texas 75231 Management, Inc.
Management
Steven K. Johnson, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
- Residential Asset Dallas, Texas 75231 Management, Inc.
Management
Cooper B. Stuart, 10670 N. Central Expwy. Executive Vice
Executive Vice President Suite 600 President, Basic Capital
Dallas, Texas 75231 Management, Inc.
Robert A. Waldman, 10670 N. Central Expwy. Senior Vice President,
Senior Vice President, Suite 600 General Counsel and
Secretary and General Dallas, Texas 75231 Secretary, Basic Capital
Counsel Management, Inc.
</TABLE>
<PAGE> 14
SCHEDULE 2
EXECUTIVE OFFICERS AND DIRECTORS OF
NRLP MANAGEMENT CORP., SOLE GENERAL PARTNER OF
NATIONAL OPERATING, L.P.
<TABLE>
<CAPTION>
NAME AND CAPACITY WITH PRESENT BUSINESS IN WHICH
NRLP MANAGEMENT Corp. BUSINESS ADDRESS EMPLOYMENT IS CONDUCTED
<S> <C> <C>
Karl L. Blaha, Director 10670 N. Central Expwy. President, Basic Capital
and President Suite 300 Management, Inc.
Dallas, Texas 75231
Collene C. Currie, 6617 Ridgeview Circle Assistant Director,
Director Dallas, Texas 75240 Cambridge Technology
Partners (CATP:NASDAQ)
Richard D. Morgan, 5910 N. Central Expwy. President, Tara Group,
Director Dallas, Texas 75206 Inc.
Thomas A. Holland, 10670 N. Central Expwy. Executive Vice President,
Executive Vice President Suite 600 Basic Capital Management,
and Chief Financial Dallas, Texas 75231 Inc.
Officer
Bruce A. Endendyk, 10670 N. Central Expwy. Executive Vice President,
Executive Vice President Suite 600 Basic Capital Management,
Dallas, Texas 75231 Inc.
David W. Starowicz, 10670 N. Central Expwy. Executive Vice President,
Executive Vice President - Suite 600 Basic Capital Management,
Commercial Asset Dallas, Texas 75231 Inc.
Management
Steven K. Johnson, 10670 N. Central Expwy. Executive Vice President,
Executive Vice President - Suite 600 Basic Capital Management,
Residential Asset Dallas, Texas 75231 Inc.
Management
Robert A. Waldman, Senior 10670 N. Central Senior Vice President,
Vice President, Secretary Expressway General Counsel and
and General Counsel Suite 600 Secretary, Basic Capital
Dallas, Texas 75231 Management, Inc.
</TABLE>
<PAGE> 15
SCHEDULE 3
EXECUTIVE OFFICERS AND DIRECTORS OF
TRANSCONTINENTAL REALTY INVESTORS, INC.
<TABLE>
<CAPTION>
NAME AND CAPACITY WITH
TRANSCONTINENTAL REALTY PRESENT BUSINESS IN WHICH
INVESTORS, INC. BUSINESS ADDRESS EMPLOYMENT IS CONDUCTED
<S> <C> <C>
Ted P. Stokely, Chairman 10670 N. Central Expressway General Manager, Minority
of the Board of Directors Suite 515 and Elderly Housing
Dallas, Texas 75231 Assistance Foundation, Inc.
R. Douglas Leonhard, 13230 Hunters Lark Retired.
Director San Antonio, Texas 78230
Murray Shaw, Director 3713 Ebony Hollow Pass Chairman of the Board of
Austin, Texas 78745 Stephen F. Austin
University
Matin L. White, Director 8051 Coach Drive Chairman of the Board and
Oakland, California 94605 Chief Executive Officer of
Community Based
Developers, Inc.
Edward G. Zampa, Director No. Fifty Osgood Place General Partner, Edward G.
Suite 110 Zampa & Company
San Francisco, California
94133
Karl L. Blaha, President 10670 N. Central Expressway President, Basic Capital
Suite 600 Management, Inc.
Dallas, Texas 75231
Thomas A. Holland, 10670 N. Central Expressway Executive Vice President,
Executive Vice President Suite 600 Basic Capital Management, Inc.
and Chief Financial Dallas, Texas 75231
Officer
Bruce A. Endendyk, 10670 N. Central Expressway Executive Vice President,
Executive Vice President Suite 600 Basic Capital Management, Inc.
Dallas, Texas 75231
David W. Starowicz, 10670 N. Central Expressway Executive Vice President,
Executive Vice President - Suite 600 Basic Capital Management, Inc.
Commercial Asset Dallas, Texas 75231
Management
Steven K. Johnson, 10670 N. Central Expressway Executive Vice President,
Executive Vice President - Suite 600 Basic Capital Management, Inc.
Residential Asset Dallas, Texas 75231
Management
Robert A. Waldman, Senior 10670 N. Central Expressway Senior Vice President,
Vice President, Secretary Suite 600 General Counsel and
and General Counsel Dallas, Texas 75231 Secretary, Basic Capital
Management, Inc.
</TABLE>
