UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ___)
CORNERSTONE REALTY INCOME TRUST, INC.
(Name of Issuer)
Common Shares
---------------------
(Title of Class of Securities)
21922v102
-----------------
(CUSIP Number)
July 23, 1999
---------------------
(Date of Event Which Requires Filing of this Statement)
CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE
IS FILED:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
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 (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.
CUSIP No. 21922v102
(1) Names of Reporting Persons.
I.R.S. Identification Nos. of Above Persons (Entities Only).
Glade M. Knight
(2) Check the Appropriate Box if a Member of a Group.
(a)
(b)
(3) SEC Use Only. ________________
(4) Citizenship or Place of Organization. United States of America
Number of Shares (5) Sole Voting Power. 1,998,867
Beneficially Owned (6) Shared Voting Power. 0
by Each Reporting (7) Sole Dispositive Power. 1,998,867
Person With (8) Shared Dispositive Power. 0
(9) Aggregate Amount Beneficially Owned by Each Reporting Person. 1,998,867
(10) Check if the Aggregate Amount in Row 9 Excludes Certain Shares.
(11) Percent of Class Represented by Amount in Row 9. 5.4%
(12) Type of Reporting Person. IN
<PAGE>
Item 1(a). Name of Issuer
Cornerstone Realty Income Trust, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices
306 East Main Street
Richmond, Virginia 23219
Item 2(a). Name of Person Filing
Glade M. Knight
Item 2(b). Address of Principal Business Office or, if None, Residence
2930 Vista Point Road
Midlothian, Virginia 23113
Item 2(c). Citizenship
United States of America
Item 2(d). Title of Class of Securities
Common Shares
Item 2(e). CUSIP No.
21922v102
Item 3. If This Statement is Filed Pursuant to sections 240.13d-1(b) or
240.13d-2(b) or (c), Check Whether the Person Filing is a
(a) [ ] Broker or dealer registered under section 15 of the
Act (15 U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15
U.S.C. 78c)
(c) [ ] Insurance company as defined in section 3(a)(19) of
the Act (15 U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8)
(e) [ ] An investment adviser in accordance with
section 240.13d-1(b)(1)(ii)(E)
(f) [ ] An employee benefit plan or endowment fund in
accordance with section 240.13d-1(b)(1)(ii)(F)
(g) [ ] A parent holding company or control person in
accordance with section 240.13d-1(b)(1)(ii)(G)
(h) [ ] A savings associations as defined in section 3(b) of
the Federal Deposit Insurance Act (12 U.S.C. 1813)
(i) [ ] A church plan that is excluded from the definition of
an investment company under section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3)
(j) [ ] Group, in accordance with section 240.13d-1(b)(l)
(ii)(J)
<PAGE>
Item 4. Ownership
Provide the following information regarding the aggregate number
and percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned: 1,998,867
(b) Percent of class: 5.4%
(c) Number of shares as to which the person has
(i) Sole power to vote or to direct the vote: 1,998,867
(ii) Shared power to vote or to direct the vote: 0
(iii) Sole power to dispose or
to direct the disposition of: 1,998,867
(iv) Shared power to dispose or
to direct the disposition of: 0
Item 5. Ownership of Five Percent of Less of a Class
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the beneficial owner of
more than five percent of the class of securities, check the following: [ ]
Item 6. Ownership of More Than Five Percent on Behalf of Another Person
Not applicable
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company or Control Person
Not applicable
Item 8. Identification and Classification of Members of the Group
Not applicable
Item 9. Notice of Dissolution of Group
Not applicable
<PAGE>
Item 10. Certifications
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.
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.
April 28, 2000
/s/ Glade M. Knight
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Glade M. Knight
Chairman and Chief
Executive Officer of
the issuer
