<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------------------
SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
ILM Senior Living, Inc.
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(Name of Issuer)
Shares of Common Stock, $0.01 Par Value
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(Title of Class of Securities)
None
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(CUSIP Number)
Peter R. Pancione, Esq.
Gipson Hoffman & Pancione, P.C.
1901 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067
Telephone: (310) 556-4660
Facsimile: (310) 556-8945
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
January 25, 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(e), 13d-1(f), or 13d-1(g), check the following
box / /.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the Schedule, including all exhibits. See Rule 13d7(b) for other
parties to whom copies are to be sent.
(Continued on following pages)
Page 1 of 6 Pages
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SCHEDULE 13D
CUSIP No. None Page 2 of 6 Pages
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1 NAME OF REPORTING PERSON
Redwood Investors, LLC
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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
00
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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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NUMBER OF 7 SOLE VOTING POWER
SHARES 390,933
BENEFICIALLY
OWNED BY ----------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING 390,933
PERSON
WITH ----------------------------------------
9 SOLE DISPOSITIVE POWER
390,933
----------------------------------------
10 SHARED DISPOSITIVE POWER
390,933
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
390,933
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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)
5.20
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14 TYPE OF REPORTING PERSON
00
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SCHEDULE 13D
CUSIP No. None Page 3 of 6 Pages
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1 NAME OF REPORTING PERSON
Arlen Capital, LLC
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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
00
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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
California
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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
OWNED BY ---------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING 390,933
PERSON
WITH ---------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
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10 SHARED DISPOSITIVE POWER
390,933
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
390,933
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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)
5.20
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14 TYPE OF REPORTING PERSON* 00
00
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SCHEDULE 13D
CUSIP No. None Page 4 of 6 Pages
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ITEM 1. SECURITY AND ISSUER
The title and class of securities are Shares of Common Stock $0.01
Par Value ("Shares") of ILM Senior Living, Inc. ("ILM"). ILM's principal
executive offices are located at 8180 Greensboro Drive, Suite 850, McLean,
Virginia 22102.
The last known filing pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 is ILM's Annual Report on Form 10-K for the
fiscal year ended August 31, 1999. Based on such Report, the undersigned believe
there are 7,520,100 outstanding Shares. The Shares are not presently traded on
any national securities exchange.
ITEM 2. IDENTITY AND BACKGROUND
1) a) Name: Redwood Investors, LLC, a Delaware limited liability
company ("Redwood")
b) Business address: 1650 Hotel Circle North, Suite 200, San Diego,
California 92108
c) Principal business: Investments
d) Criminal proceedings: none
e) Civil proceedings: none
2) a) Name: Arlen Capital, LLC, a California limited liability company
("Arlen")
b) Business address: 1650 Hotel Circle North, Suite 200, San Diego,
California 92108
c) Principal business: Investments (the Manager of Redwood)
d) Criminal proceedings: none
e) Civil proceedings: none
3) a) Name: Don Augustine ("DA")
b) Business address: 1650 Hotel Circle North, Suite 200, San Diego,
California 92108
c) Principal occupation: Manager of Arlen, whose principal business
and address are set forth in paragraph 2) above and incorporated
herein by this reference.
d) Criminal proceedings: none
e) Civil proceedings: none
f) Citizenship: U.S.
4) a) Name: Lynn T. Wells ("LTW")
b) Business address: 1650 Hotel Circle North, Suite 200, San Diego,
California 92108
c) Principal occupation: Manager of Arlen, whose principal business
and address are set forth in paragraph 2) above and incorporated
herein by this reference.
d) Criminal proceedings: none
e) Civil proceedings: none
f) Citizenship: U.S.
<PAGE>
SCHEDULE 13D
CUSIP No. None Page 5 of 6 Pages
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
On April 27, 1998 Redwood purchased 377 Shares through a matching service
for $3,449.17 using its working capital.
Redwood also purchased an aggregate of 372,456 Shares for an aggregate of
$3,284,441 using its working capital in six separate tender offers as follows:
<TABLE>
<CAPTION>
Date of Tender Offer Expiration Date Shares Purchased Price Per Share
- ------------------------ ------------------------------ ----------------------------- ----------------------------------
<S> <C> <C> <C>
June 4, 1998 August 28, 1998 61,305 $7.00
- ------------------------ ------------------------------ ----------------------------- ----------------------------------
January 26, 1999 February 26, 1999 51,698 $8.00
- ------------------------ ------------------------------ ----------------------------- ----------------------------------
March 23, 1999 April 30, 1999 94,737 $8.90
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June 4, 1999 July 8, 1999 69,286 $9.00
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August 6, 1999 September 10, 1999 63,246 $10.00
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September 30, 1999 November 5, 1999 32,184 $10.75
- ------------------------ ------------------------------ ----------------------------- ----------------------------------
</TABLE>
On January 25, 2000 Redwood, using its working capital, purchased
18,100 Shares in two negotiated transactions. (See Item 5.1 c) below.)
ITEM 4. PURPOSE OF TRANSACTION
The purpose of the transactions was to purchase Shares for
investment purposes only. No extraordinary transactions between Redwood and ILM
are presently contemplated
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
1) a) Redwood holds 390,933 Units of ILM, which represents
approximately 5.20%of the believed 7,520,100 Shares outstanding.
b) Redwood through its Manager, Arlen, has the sole power to vote
and dispose of 390,933 Shares .
c) On January 25, 2000 Redwood purchased 500 Shares for $4,878.75
($9.75 per Share) in a negotiated transaction, from one unaffiliated purchaser.
The transaction was effected by telephone, U.S. Mail and payment was made by
check.
On January 25, 2000 Redwood purchased 17,600 shares for $183,348
($10.42 per Share) in a negotiated transaction from one unaffiliated
purchaser. The transaction was effected by telephone, U.S. mail and payment
was made by check.
d) No other person is known to have the right to receive or the
power to direct the receipt of dividends or distributions from, or the proceeds
from the sale of the Shares, except as indicated above.
e) Not Applicable.
2) a) Arlen, as a Member of and the Manager of Redwood indirectly holds
390,933 Shares of ILM which represents approximately 5.20% of the believed
7,520,100 Shares outstanding.
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SCHEDULE 13D
CUSIP No. None Page 6 of 6 Pages
b) Arlen, as the manager of Redwood and Redwood have the shared
power to vote and to dispose of the 390,933 Shares.
c) Please refer to 5.1)(c) above which is incorporated herein by
this reference.
d) No other person is known to have the right to receive or the
power to direct the receipt of dividends or distributions from, or the proceeds
from the sale of the Shares, except as indicated above.
e) Not applicable.
ITEM 6. CONTRACTS, AGREEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit A - Agreement to File Single Statement.
SIGNATURES
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. This statement is being filed on behalf of all the parties
identified in Item 2 above.
Dated: January 27, 2000 REDWOOD INVESTORS, LLC
a Delaware limited liability company
By its Manager
Arlen Capital, LLC
a California limited liability company
By: /s/ Don Augustine
--------------------------------
Don Augustine, Manager
ARLEN CAPITAL, LLC
a California limited liability company
By its Manager, Don Augustine
By: /s/ Don Augustine
--------------------------------
Don Augustine, Manager
<PAGE>
EXHIBIT A
AGREEMENT TO FILE SINGLE STATEMENT
1
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AGREEMENT TO FILE SINGLE STATEMENT
This agreement is entered into the 27th of January, 2000 by and among
Redwood Investors, LLC, a Delaware limited liability company and Arlen Capital,
LLC, a California limited liability company.
RECITALS
A. The parties hereto are aligned in interest regarding the ownership and
control of the Shares of Common Stock, $0.01 Par Value of ILM Senior Living,
Inc.
B. The parties desire that a single Schedule 13D be filed on each of their
behalf.
NOW THEREFORE, the parties agree that a single Schedule 13D shall be filed
on behalf of each of them by Redwood Investors, LLC, and that all filing costs
be payable by Arlen Capital, LLC.
IN WITNESS WHEREOF, the parties hereto have duly executed and delivered
this Agreement to file Single Statement as of the day and year first written
above.
REDWOOD INVESTORS, LLC ARLEN CAPITAL, LLC
a Delaware limited liability a California limited liability company
company
By its Manager By its Manager, Don Augustine
Arlen Capital, LLC
a California limited liability
company
By: /s/ Don Augustine By: /s/ Don Augustine
--------------------------- ----------------------------
Don Augustine, Manager Don Augustine, Manager
1
