UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
HIGH EQUITY PARTNERS L.P. - SERIES 88
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(Name of Issuer)
Units of Limited Partnership Interest
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(Title of Class of Securities)
--------------------------------------------------------------------------------
(CUSIP Number)
David J. Heymann, Esq. Mark I. Fisher, Esq.
100 Jericho Quadrangle, Suite 214 c/o Rosenman & Colin LLP
Jericho, New York 11753 575 Madison Avenue
(516) 681-3636 New York, New York 10022
(212) 940-8877
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
October 12, 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 Rule 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
person'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 (the "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>
CUSIP No. SCHEDULE 13D Page 2 of 13 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Millennium Funding IV Corp.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
None
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 67,066
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
67,066
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
67,066
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.04%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. SCHEDULE 13D Page 3 of 13 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Presidio Capital Corp.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
None
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 67,066
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
67,066
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
67,066
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.04%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. SCHEDULE 13D Page 4 of 13 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Presidio Capital Investment Company, LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
None
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 105,047
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
105,047
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
105,047
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.26%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. SCHEDULE 13D Page 5 of 13 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NorthStar Presidio Capital Holding Corp.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
None
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 105,047
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
105,047
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
105,047
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.26%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. SCHEDULE 13D Page 6 of 13 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NorthStar Presidio Management Company LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
None
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 67,066
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
67,066
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
67,066
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.04%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. SCHEDULE 13D Page 7 of 13 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NorthStar Partnership, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
None
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 105,047
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
105,047
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
105,047
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.26%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. SCHEDULE 13D Page 8 of 13 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NorthStar Capital Investment Corp.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
None
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 105,047
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
105,047
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
105,047
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.26%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. SCHEDULE 13D Page 9 of 13 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Millennium Funding I LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
None
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 5,470
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,470
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,470
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.47%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. SCHEDULE 13D Page 10 of 13 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Millennium Funding IV LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
None
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 32,511
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
32,511
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
32,511
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.75%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
This Amendment No. 3 is being filed by Millennium Funding IV Corp.,
Millennium Funding I LLC, Millennium Funding IV LLC, Presidio Capital Corp.,
Presidio Capital Investment Company, LLC, NorthStar Presidio Capital Holding
Corp., NorthStar Presidio Management Company LLC, NorthStar Partnership, L.P.
and NorthStar Capital Investment Corp. and amends the statement on Schedule 13D
dated February 9, 1998 (the "Schedule 13D"), which was filed by Millennium
Funding Corp., Millennium Funding IV Corp., Presidio Capital Corp., Presidio
Holding Company LLC, NorthStar Presidio Management Company, LLC, NorthStar
Operating, LLC, NorthStar Capital Partners, LLC, NorthStar Capital Holdings I,
LLC, W. Edward Scheetz and David T. Hamamoto as amended by (i) Amendment No. 1
dated October 30, 1998, which was filed by Millennium Funding Corp., Millennium
Funding IV Corp., NorthStar Capital Holdings I, LLC, NorthStar Capital Partners,
LLC, NorthStar Operating, LLC, NorthStar Presidio Management Company, LLC,
Presidio Capital Corp., Presidio Capital Investment Company, Presidio Holding
Company, LLC, W. Edward Scheetz and David Hamamoto, and (ii) Amendment No. 2
dated October 29, 1998 and filed on February 10, 2000 by Millennium Funding IV
Corp., Millennium Funding I LLC, Millennium Funding IV LLC, Presidio Capital
Corp., Presidio Capital Investment Company, LLC, NorthStar Presidio Capital
Holding Corp., NorthStar Presidio Management Company LLC, NorthStar Partnership,
L.P. and NorthStar Capital Investment Corp.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is hereby amended by adding the following information:
On October 12, 2000 Millennium Funding IV LLC ("Millennium IV")
purchased 7,477 units in High Equity Partners L.P. - Series 88 (the "HEP 88
Units") from Olympia Investors L.P. The HEP 88 Units were purchased as a result
of the exercise by Olympia Investors, L.P. of its right to cause the purchase of
the HEP 88 Units as well as the purchase of 15,566 units of limited partnership
interest (the "HEP 85 Units") in Integrated Resources High Equity Partners,
Series 85, A California Limited Partnership and 16,365 units of limited
partnership interest (the "HEP 86 Units") in High Equity Partners L.P. - Series
86. The HEP 85 and HEP 86 Units were purchased by affiliates of Millennium IV.
The aggregate purchase price for the HEP 85 Units, the HEP 86 Units and the HEP
88 Units was $7,500,000. The source of funds for the purchase was capital
contributions from Presidio Capital Investment Company, LLC ("PCIC").
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended and restated as follows:
(a-b) The aggregate percentage of the outstanding Units reported
owned by each Reporting Person is based upon 371,766 outstanding Units.
As of the close of business on October 16, 2000:
(i) Millennium Funding IV Corp. ("MFC IV") owns 67,066 Units
which constitute approximately 18.04% of Units outstanding. MFC IV has
shared power to vote and dispose of all such Units;
Page 11 of 13
<PAGE>
(ii) Millennium Funding I LLC ("Millennium LLC") owns 5,470
Units which constitute approximately 1.47% of the Units outstanding.
Millennium LLC has shared power to vote and dispose of all such Units;
(iii) Millennium IV owns 32,511 Units which constitute
approximately 8.75% of the Units outstanding. Millennium IV has shared
power to vote and dispose of all such Units;
(iv) MFC IV is wholly-owned by Presidio Capital Corp.
("Presidio"). Accordingly, Presidio may be deemed to beneficially own the
67,066 Units held by MFC IV. Such Units constitute approximately 18.04% of
the outstanding Units. Presidio has shared power to vote and dispose of
all such Units;
(v) Each of Presidio, Millennium LLC and Millennium IV is
wholly-owned by Presidio Capital Investment Company ("PCIC"). Accordingly,
PCIC may be deemed to beneficially own the aggregate 105,047 Units which
are beneficially owned by Millennium LLC, Millennium IV and Presidio. Such
Units constitute approximately 28.26% of the outstanding Units. PCIC has
shared power to vote and dispose of all such Units;
(vi) The majority interest in PCIC is held by NorthStar
Presidio Capital Holding Corp. ("NP Holding"). Accordingly, NP Holding may
be deemed to beneficially own the aggregate 105,047 Units which are
beneficially owned by PCIC. Such Units constitute approximately 28.26% of
the outstanding Units. NP Holding has shared power to vote and dispose of
all such Units;
(vii) NP Holding is wholly-owned by NorthStar Partnership L.P.
("NorthStar Partnership"). Accordingly, NorthStar Partnership may be
deemed to beneficially own the aggregate 105,047 Units which are
beneficially owned by NP Holding. Such Units constitute approximately
28.26% of the outstanding Units. NorthStar Partnership has shared power to
vote and dispose of all such Units;
(viii) NorthStar Capital Investment Company ("NCIC") is the
general partner and majority owner of NorthStar Partnership. Accordingly,
NCIC may be deemed to beneficially own the aggregate 105,047 Units which
are beneficially owned by NorthStar Partnership. Such Units constitute
approximately 28.26% of the outstanding Units. NCIC has shared power to
vote and dispose of all such Units; and
(ix) Pursuant to a management agreement dated as of November
4, 1997 (the "Management Agreement"), Presidio and its subsidiaries are
managed by NorthStar Presidio Management Company LLC ("NorthStar"). Under
the Management Agreement, subject to certain restrictions, NorthStar has
full discretion and authority to manage Presidio's assets. Accordingly,
NorthStar may be deemed to be the beneficial owner of the 67,066 Units
which are beneficially owned by Presidio. Such Units constitute
approximately 18.04% of the outstanding Units. NorthStar has shared power
to vote and dispose of all such Units.
(c) On October 12, 2000, Millennium IV purchased 7,477 Units. See
Item 3 for additional information on the purchase.
Page 12 of 13
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of their knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: October 19, 2000
MILLENNIUM FUNDING IV CORP. NORTHSTAR PARTNERSHIP, L.P.
By: /s/ Peter Braverman By: NorthStar Capital Investment
------------------------------- Corp., its general partner
Name: Peter Braverman
Title: Vice President By: /s/ David King
----------------------------
Name: David King
PRESIDIO CAPITAL CORP. Title: Vice President
By: /s/ Peter Braverman
------------------------------- NORTHSTAR PRESIDIO MANAGEMENT
Name: Peter Braverman COMPANY LLC
Title: Vice President
By: NorthStar Partnership, L.P.,
its sole member
PRESIDIO CAPITAL INVESTMENT
COMPANY, LLC By: NorthStar Capital Investment
Corp., its general partner
By: /s/ David King
------------------------------- By: /s/ David King
Name: David King ----------------------------
Title: President Name: David King
Title: Vice President
NORTHSTAR PRESIDIO CAPITAL
HOLDING CORP. MILLENNIUM FUNDING I LLC
By: /s/ David King By: Presidio Capital Investment
------------------------------- Company LLC, its sole member
Name: David King
Title: Vice President By: /s/ David King
----------------------------
Name: David King
NORTHSTAR CAPITAL INVESTMENT CORP. Title: President
By: /s/ David King
------------------------------- MILLENNIUM FUNDING IV LLC
Name: David King
Title: Vice President By: Presidio Capital Investment
Company LLC, its sole member
By: /s/ David King
----------------------------
Name: David King
Title: President
Page 13 of 13
