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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 42)
AMERICAN REALTY TRUST, INC.
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(Name of Issuer)
Common Stock, $0.01 par value
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(Title of Class of Securities)
029177-40-9
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(CUSIP Number)
Robert A. Waldman
10670 N. Central Expressway, Suite 600
Dallas, Texas 75231
(214) 692-4758
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
August 3, 2000
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(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).
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CUSIP No. 029177-40-9
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1) Names of Reporting Persons I.R.S. Identification Nos. of Above Persons
(entities only)
Basic Capital Management, Inc., FEI No. 75-2261065
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
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3) SEC Use Only
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4) Source of Funds (See Instructions) OO
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5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) [ ]
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6) Citizenship or Place of Organization Nevada
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7) Sole Voting Power -0-
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Number of
Shares Bene- 8) Shared Voting Power -0-
ficially
Owned by ------------------------------------------------------------
Each Report-
ing Person 9) Sole Dispositive Power -0-
With
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10) Shared Dispositive Power -0-
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11) Aggregate Amount Beneficially Owned by Each Reporting Person -0-
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) [ ]
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13) Percent of Class Represented by Amount in Row (11) -0-
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14) Type of Reporting Person (See Instructions) CO
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CUSIP No. 029177-40-9
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1) Names of Reporting Persons I.R.S. Identification Nos. of Above Persons
(entities only)
National Operating, L.P., FEI No. 75-2163170
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
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3) SEC Use Only
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4) Source of Funds (See Instructions) OO
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5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) [ ]
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6) Citizenship or Place of Organization Delaware
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7) Sole Voting Power -0-
------------------------------------------------------------
Number of
Shares Bene- 8) Shared Voting Power -0-
ficially
Owned by ------------------------------------------------------------
Each Report-
ing Person 9) Sole Dispositive Power -0-
With
------------------------------------------------------------
10) Shared Dispositive Power -0-
--------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person -0-
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) [ ]
--------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11) -0-
--------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions) PN
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CUSIP No. 029177-40-9
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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
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
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3) SEC Use Only
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4) Source of Funds (See Instructions)
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5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) [ ]
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6) Citizenship or Place of Organization Texas
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7) Sole Voting Power -0-
------------------------------------------------------------
Number of
Shares Bene- 8) Shared Voting Power -0-
ficially
Owned by ------------------------------------------------------------
Each Report-
ing Person 9) Sole Dispositive Power -0-
With
------------------------------------------------------------
10) Shared Dispositive Power -0-
--------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person -0-
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) [ ]
--------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11) -0-
--------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions) OO
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CUSIP No. 029177-40-9
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1) Names of Reporting Persons I.R.S. Identification Nos. of Above Persons
(entities only)
Transcontinental Realty Investors, Inc., FEI No. 94-656582
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
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3) SEC Use Only
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4) Source of Funds (See Instructions) OO
--------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) [ ]
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6) Citizenship or Place of Organization Nevada
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7) Sole Voting Power -0-
------------------------------------------------------------
Number of
Shares Bene- 8) Shared Voting Power -0-
ficially
Owned by ------------------------------------------------------------
Each Report-
ing Person 9) Sole Dispositive Power -0-
With
------------------------------------------------------------
10) Shared Dispositive Power -0-
--------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person -0-
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions) [ ]
--------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11) -0-
--------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions) CO
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ITEM 1. SECURITY AND ISSUER
This Amendment No. 42 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 ("ART" or the "Issuer") and further amends the
original Statement on Schedule 13D as amended by Amendment Nos. 1 through 41
thereof (the "Amended Statement") filed by and on behalf of the "Reporting
Persons" described below. The principal executive offices of ART are located at
10670 N. Central Expressway, Suite 600, Dallas, Texas 75231. The CUSIP number of
the Shares is 029177-40-9.
At Special Meetings of the stockholders of American Realty Trust, Inc.
("ART") and Unitholders of National Realty, L.P., a Delaware limited partnership
("NRLP"), held on March 21, 2000, the security holders of each entity approved a
proposal for a tax-free reorganization and combination of the ownership of the
two entities by consolidation with and into American Realty Investors, Inc.
("ARI"). The consolidation was effectuated by closing on August 3, 2000,
separate mergers of ART and NRLP with and into wholly-owned subsidiaries of ARI
with the result that ART and NRLP became wholly-owned subsidiaries of ARI with
the securities of ART and NRLP converted into securities of ARI. At such
closing, effective August 3, 2000, ART stockholders received 0.91 shares of ARI
Common Stock in exchange for each share of ART Common Stock held, and the NRLP
Unitholders received one share of ARI Common Stock for each Unit held. ART and
NRLP each continue business operations as wholly-owned subsidiaries of ARI with
no change in management of the combined entities or their properties. With the
consummation of the transaction, each of the "Reporting Persons" (as defined in
Item 2 below) cease to be holders of Shares.
ITEM 2. IDENTITY AND BACKGROUND.
(a)-(f) This Amendment No. 42 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 continue to have 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 filed an Original Statement on Schedule 13D and
Amendments Nos. 1 through 41 thereto (all collectively the "Amended Statement"),
Amendment No. 41 of which was filed with respect to events occurring on June 15,
2000. All items set forth in this Amendment No. 42 are in addition to the
information
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provided in the Amended Statement; accordingly, only the items which have
changed since the filing of Amendment 41 are the subject of this Amendment No.
42. All information set forth in Item 2 of the Amended Statement as last
reflected by Amendment No. 41 thereto remains correct as of the date of this
Amendment No. 42.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(e) See Item 1 above for a description of the consolidation which resulted in
ART becoming a wholly-owned subsidiary of ARI effective August 3, 2000. The
result of such transaction is that each of the Reporting Persons ceased to be
holders of the Shares and each Share was converted into the right to receive
0.91 shares of ARI Common Stock. Therefore, the date on which the Reporting
Persons ceased to be the beneficial owner of more than 5% of the Shares was
August 3, 2000.
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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. 42 to Statement on Schedule 13D is true, complete and correct.
Dated: August 22, 2000
BASIC CAPITAL MANAGEMENT, INC.
By: /s/ Karl L. Blaha
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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
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Karl L. Blaha, President
GENE E. PHILLIPS CHILDREN'S TRUST
By: /s/ Donald W. Phillips
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Donald W. Phillips, Trustee
TRANSCONTINENTAL REALTY INVESTORS,
INC.
By: /s/ Karl L. Blaha
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Karl L. Blaha, President
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