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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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)
(AMENDMENT NO. )(1)
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MILESTONE PROPERTIES, INC.
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(Name of Issuer)
$.01 Par Value Common Stock
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(Title of Class of Securities)
599358108
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(CUSIP Number)
George J. D'Angelo
14502 N. Dale Mabry, Suite 305, Tampa, Florida 33618; (813) 969-0854
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 21, 1998
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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 that 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 13d-7(b) for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 5 Pages)
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(1) 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 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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CUSIP NO. 599358108 13D PAGE 2 OF 5 PAGES
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(1) NAMES OF REPORTING PERSONS GEORGE J. D'ANGELO
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS*
PF
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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
USA
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(7) SOLE VOTING POWER
NUMBER OF 302,330
SHARES --------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY -0-
EACH --------------------------------------------------------
REPORTING (9) SOLE DISPOSITIVE POWER
PERSON WITH 302,330
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(10) SHARED DISPOSITIVE POWER
-0-
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
302,330
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(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.17%
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(14) TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Mr. D'Angelo is the record owner of 202,000 shares of Common Stock and 91,300
shares of $0.78 Preferred Series A Stock (presently convertible into 100,330
shares of Common Stock), together constituting 302,330 shares of Common Stock.
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INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<TABLE>
<S> <C>
Item 1 Security and Issuer
Title of Securities: Common Stock, par value $.01 per share
(the "Stock") of Milestone Properties,
Inc. (the "Issuer")
Name and Address of Issuer: Milestone Properties, Inc.
150 E. Palmetto Park Rd. 4th Floor
Boca Raton, Florida 33432
Item 2 Identity and Background
Item 2(a) This statement is being filed by George J. D'Angelo.
Item 2(b) The business address for George J. D'Angelo is:
14502 N. Dale Mabry, Suite 305
Tampa, FL 33618
Item 2(c) The principal occupation of George J. D'Angelo is:
Self-employed
Item 2(d) Criminal Proceedings: During the last five years,
George D. Angelo has not been convicted in a criminal
proceeding (excluding traffic violations or similar
misdemeanors) or has been a party to a civil proceeding
of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or
is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state
securities laws or finding any violation with respect
to such laws.
Item 2(e) Civil Proceedings: See Item 2(d)
Item 2(f) George J. D'Angelo is a United States citizen.
Item 3 Source and Amount of Funds or other Consideration
George J. D'Angelo purchased Common Stock and Preferred Stock with personal
funds of $179,309.75 and $116,411.25 respectively, inclusive of commissions.
Item 4 Purpose of Transaction
George J. D'Angelo has acquired Stock of the Issuer because he believes
that such Shares are substantially undervalued. George J. D'Angelo will evaluate
his investment in the issuer on an ongoing basis and will take whatever action he
concludes is in his best interest including buying additional shares or selling
shares without any further prior disclosure.
Item 5 Interest in Securities of the Issuer
Item 5(a) At of the close of business on January 21, 1998,
the percentage of stock of the Issuer (based upon
4,213,368 of shares reported as being outstanding
in the Issuer's Form 10-K for the fiscal year ended
December 31, 1997) held of record by George J.
D'Angelo is as follows:
</TABLE>
Page 3 of 5 Pages
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<TABLE>
<CAPTION>
Approximate Percentage of
Security No. of Shares Outstanding Shares
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<S> <C> <C>
Common 115,500 2.74
Preferred
Equivalent
to common 97,783 2.32
5.06% (total)
</TABLE>
Item 5(b) George D' Angelo has sole power to vote and to dispose of all
the shares of Stock.
Item 5(c) The following table sets forth all transactions with respect
to the Issuer's Stock effected during the sixty days prior to
the date of the event requiring the filing of this statement
through the filing date. Each transaction set forth below
reflects a purchase (P) or a sale (S) effected by means of the
New York Stock Exchange.
<TABLE>
<CAPTION>
Security Trade Date No. of Shares Price Per Share
- -------- ---------- ------------- ---------------
<S> <C> <C> <C>
Preferred 03/20/98 2,300 (P) $1.437
Common 03/16/98 12,500 (P) $1.412
Common 03/09/98 8,000 (P) $1.375
Common 03/02/98 10,000 (P) $1.312
Common 02/25/98 3,100 (P) $1.187
Common 02/24/98 5,000 (P) $1.187
Common 02/19/98 5,000 (P) $1.250
Common 02/12/98 5,000 (P) $1.375
Common 02/03/98 10,000 (P) $1.000
Common 02/02/98 20,000 (P) $1.000
Common 01/23/98 7,900 (P) $0.875
Common 01/21/98 5,000 (P) $0.812
Common 01/20/98 10,000 (P) $0.812
Preferred 01/16/98 3,200 (P) $1.250
Preferred 01/14/98 2,000 (P) $1.250
Preferred 01/12/98 1,800 (P) $1.250
Common 01/06/98 3,500 (P) $0.625
Preferred 12/31/97 5,200 (P) $1.250
Preferred 12/30/97 4,300 (P) $1.250
Preferred 12/29/97 500 (P) $1.250
Preferred 12/23/97 2,300 (P) $1.250
Preferred 12/22/97 1,100 (P) $1.250
Preferred 12/19/97 6,600 (P) $1.250
Common 12/15/97 11,000 (P) $0.625
</TABLE>
Item 6 Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
No contract exists between any of the
entities or natural person identified in Item
2(a) above and the issuer.
Page 4 of 5 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: April 28, 1998.
/s/ George J. D'Angelo
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George J. D'Angelo
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
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