UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)
KOGER EQUITY, INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
500228101
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(CUSIP Number)
John F. Hartigan, Esq.
Morgan, Lewis & Bockius LLP
801 South Grand Avenue
Los Angeles, CA 90017
(213) 612-2500
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
October 31, 1996
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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 |_|.
Check the following box if a fee is being paid with the statement |_|. (A fee
is not required only if the reporting person (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
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 ("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 1 of 7 Pages
<PAGE>
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CUSIP No. 500228101 SCHEDULE 13D Page 2 of 7 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Apollo Real Estate Investment Fund II, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX 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
| 4,713,598 shares
NUMBER OF ------------------------------------------------------
SHARES | 8 SHARED VOTING POWER
BENEFICIALLY | 0
OWNED BY ------------------------------------------------------
EACH | 9 SOLE DISPOSITIVE POWER
REPORTING | 4,713,598 shares
PERSON WITH ------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
| 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,713,598
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.6%
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14 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 500228101 SCHEDULE 13D Page 3 of 7 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Apollo Real Estate Advisors II, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX 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
| 4,713,598 shares
NUMBER OF ------------------------------------------------------
SHARES | 8 SHARED VOTING POWER
BENEFICIALLY | 0
OWNED BY ------------------------------------------------------
EACH | 9 SOLE DISPOSITIVE POWER
REPORTING | 4,713,598 shares
PERSON WITH ------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
| 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,713,598
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.6%
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14 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 500228101 SCHEDULE 13D Page 4 of 7 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AP-KEI Holdings, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /X/
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC; AF
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5 CHECK BOX 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
| 3,000,000 shares
NUMBER OF ------------------------------------------------------
SHARES | 8 SHARED VOTING POWER
BENEFICIALLY | 0
OWNED BY ------------------------------------------------------
EACH | 9 SOLE DISPOSITIVE POWER
REPORTING | 3,000,000 shares
PERSON WITH ------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
| 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,000,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.4%
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14 TYPE OF REPORTING PERSON*
OO
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
This Amendment No. 3 amends and supplements the Schedule 13D, dated
June 25, 1996, as amended by Amendment No. 1, dated August 15, 1996, and
Amendment No. 2, dated October 16, 1996, by Apollo Real Estate Investment Fund
II, L.P., a Delaware limited partnership ("AREIF II"), Apollo Real Estate
Advisors II, L.P., a Delaware limited partnership ("AREA II"), and AP-KEI
Holdings, LLC, a Delaware limited liability company ("AP-KEI").
Item 3. Source and Amount of Funds or Other Consideration.
The following is inserted at the end of Item 3:
On October 31, 1996, AREIF II exercised the options granted
pursuant to the TCW Option Agreement and the Tyndall Option Agreement,
purchasing a total of 1,130,642 shares of Common Stock for an
aggregate purchase price of $14,874,231.75. The aggregate amount paid
at closing was reduced by previous payments of $826,200.00 made
pursuant to the option agreements. The discussion herein of the TCW
Option Agreement and the Tyndall Option Agreement is subject to, and
qualified in its entirety by, reference to such agreements, copies of
which were attached to the initial Schedule 13D and are incorporated
herein by reference.
Item 5. Interest in Securities of the Issuer.
Paragraphs (a) and (b) of Item 5 are hereby amended and restated in
their entirety by the following:
(a) and (b) As of the date hereof, AREIF II, together with
AREA II, are deemed to beneficially own an aggregate of 4,713,598
shares of the Common Stock, which constitutes approximately 22.6% of
the Common Stock outstanding.* Of that amount, 3,000,000 shares of
Common Stock are also beneficially owned by AP-KEI (a subsidiary of
AREIF II), which constitutes approximately 14.4% of the Common Stock
outstanding.
AREIF II owns directly or indirectly (through AP-KEI)
4,713,598 shares of Common Stock, as to which it has sole voting and
dispositive power. AREA II, general partner of AREIF II, is deemed to
beneficially own such 4,713,598 shares of Common Stock and have sole
voting and dispositive power.
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* All calculations of percentages of beneficial ownership in this
Schedule 13D are based on there being 20,873,866 shares of Common Stock
outstanding, which is the amount disclosed in the Company's Quarterly Report on
Form 10-Q for the period ended June 30, 1996 (17,873,866 shares of Common Stock)
together with the 3,000,000 shares of Common Stock issued by the Company
pursuant to the October Stock Purchase Agreement.
Page 5 of 7 Pages
<PAGE>
AP-KEI owns 3,000,000 shares of Common Stock, as to which it
has sole voting and dispositive power. AP-MM is the managing member of
AP-KEI. The managing member of AP-MM is Kronus Property, Inc, a
wholly-owned subsidiary of AREIF II.
Item 5(c) is hereby amended to include the following:
Since the most recent filing on Schedule 13D by the Reporting
Persons, there have been no transactions in the Common Stock except
for the exercise of the option granted pursuant to the TCW Option
Agreement and the Tyndall Option Agreement. On October 31, 1996 AREIF
II exercised such options and purchased a total of 1,130,642 shares of
Common Stock for an aggregate purchase price of $14,874,231.75, which
price was reduced by previous payments of $826,200.00 made pursuant to
the option agreements.
Page 6 of 7 Pages
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SIGNATURE
After reasonable 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: November 1, 1996
APOLLO REAL ESTATE INVESTMENT FUND II, L.P.
By: Apollo Real Estate Advisors II, L.P.
General Partner
By: Apollo Real Estate Capital Advisors II, Inc.
General Partner
By: /s/ Michael D. Weiner
Name: Michael D. Weiner
Title: Vice President,
Apollo Real Estate Capital
Advisors II, Inc.
APOLLO REAL ESTATE ADVISORS II, L.P.
By: Apollo Real Estate Capital Advisors II, Inc.
General Partner
By: /s/ Michael D. Weiner
Name: Michael D. Weiner
Title: Vice President,
Apollo Real Estate Capital
Advisors II, Inc.
AP-KEI HOLDINGS, LLC
By: AP-MM KEI Holdings, LLC
its Managing Member
By: Kronus Property, Inc.
By: /s/ Michael D. Weiner
Name: Michael D. Weiner
Title: Vice President,
Kronus Property, Inc.
Page 7 of 7 Pages
