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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 4)*
ANGELES MORTGAGE INVESTMENT TRUST
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(Name of Issuer)
CLASS A SHARES, PAR VALUE $1.00 PER SHARE
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(Title of Class of Securities)
034638
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(CUSIP Number)
JOHN K. LINES, ESQ., GENERAL COUNSEL AND SECRETARY,
INSIGNIA FINANCIAL GROUP, INC.
ONE INSIGNIA FINANCIAL PLAZA, GREENVILLE, SC 29602
(864) 239-1675
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(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
JANUARY 30, 1997
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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 this statement [ ]
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 the
disclosures provided in a prior cover page.
The information required in 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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SCHEDULE 13D
CUSIP No. 034638 PAGE 2 OF 6 PAGES
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1 NAME OF REPORTING PERSONS
Andrew L. Farkas
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
(intentionally omitted)
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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*
N/A
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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
United States
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7 SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 130,986
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
130,986
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
130,986
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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)
4.9%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
CUSIP No. 034638 PAGE 3 OF 6 PAGES
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1 NAME OF REPORTING PERSONS
Insignia Financial Group, Inc.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
(intentionally omitted)
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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
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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
0
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 130,986
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
130,986
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
130,986
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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)
4.9%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 4
SCHEDULE 13D
CUSIP No. 034638 PAGE 4 OF 6 PAGES
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1 NAME OF REPORTING PERSONS
Liquidity Assistance L.L.C
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
(intentionally omitted)
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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
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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
0
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 96,800
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
96,800
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
96,800
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.7%
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14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 5
The Statement on Schedule 13D, filed on November 27, 1996 on behalf of Insignia
Financial Group, Inc., a corporation organized under the laws of Delaware,
Andrew L. Farkas, Liquidity Assistance L.L.C., a limited liability company
organized under the laws of Delaware, Metropolitan Asset Enhancement, L.P., a
limited partnership organized under the laws of Delaware, MAE Parent, Inc., a
corporation organized under the laws of Delaware, and MAE GP Corporation, a
corporation organized under the laws of Delaware, relating to the Class A
Shares, $1.00 par value per share, of Angeles Mortgage Investment Trust, a
business trust organized under the laws of California (the "Issuer"), as amended
by Amendments Nos. 1, 2 and 3 thereto filed on December 16, 1996, December 20,
1996 and January 27, 1997, respectively (the "Schedule 13D"), is amended as
follows (capitalized terms used and not otherwise defined herein shall have the
meanings given to them in the Schedule 13D):
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) MAEGP owns 1,675,113 Class B Shares of the Issuer which are
convertible into 34,186 Class A Shares. Liquidity owns 96,800 Class A Shares
which includes 4,700 Class A Shares which were acquired on November 21, 1996 on
the American Stock Exchange for $9.50 per share and which were inadvertently not
included in the Schedule 13D. The Class A and Class B shares are each entitled
to one vote in matters submitted to the shareholders of the Issuer and vote as a
class. The responses of the Reporting Persons to Items (11) and (13) of the
cover pages of this Schedule 13D which relate to the aggregate number of shares
and percentage of Class A Shares beneficially owned are incorporated herein by
reference. The discussions between Insignia and the Issuer with respect to a
potential business combination are continuing. See Item 4.
(b) Not applicable.
(c) On January 27, 1997, Liquidity sold 22,000 Class A Shares on
the American Stock Exchange for $13.56 per share; on January 29, 1997 Liquidity
sold 3,000 Class A Shares on the American Stock Exchange for $12.63 per share;
and on January 30, 1997 Liquidity sold 4,700 Class A Shares on the American
Stock Exchange for $12.78 per share.
(d) The responses of the Reporting Persons to Items (7) through
(11) of the cover pages of this Schedule 13D which relate to the Class A Shares
beneficially owned are incorporated herein by reference.
(e) On January 30, 1997, the Reporting Persons ceased to be the
beneficial owner of more than 5% of the Class A Shares of the Issuer.
Page 5 of 6 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: January 30, 1997 /s/ Andrew L. Farkas
---------------------------------------------
Andrew L. Farkas
Insignia Financial Group, Inc.
By: /s/ Frank M. Garrison
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Frank M. Garrison, Executive Managing
Director
Metropolitan Asset Enhancement, L.P.
By: MAE Parent, Inc., General Partner
By: /s/ John K. Lines
----------------------------------
John K. Lines, Vice President
Liquidity Assistance L.L.C.
By: /s/ J. Scott Kester
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J. Scott Kester, President
MAE Parent, Inc.
By: /s/ John K. Lines
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John K. Lines, Vice President
MAE GP Corporation
By: /s/ John K. Lines
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John K. Lines, Secretary
Page 6 of 6 Pages
