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UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
(Title of Class of Securities)
599358108 (Common Stock)
(CUSIP Number)
Vicki Z. Holleman
c/o Loeb Partners Corporation
61 Broadway, N.Y., N.Y., 10006 (212) 483-7047
(Name, address and Telephone Number of Person Authorized to Receive Notices
and Communications)
August 15, 2000
(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 statement [ ]. (A fee is not
required only if the following reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described is 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 remained 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. 599358108 (Common)
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Loeb Partners Corporation
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC, O
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ]
PURSUANT TO ITEMS 2(d) or 2(e)
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF 7 SOLE VOTING POWER
SHARES 26,729 Shares
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 21,293 Shares
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 26,729 Shares
PERSON WITH 10 SHARED DISPOSITIVE POWER
21,293 Shares
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
48,022 Shares
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.11%
14 TYPE OF REPORTING PERSON*
PN, BD, IA
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SCHEDULE 13D
CUSIP NO. 599358108 (Common)
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Loeb Arbitrage Fund
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS
WC, O
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED [ ]
PURSUANT TO ITEMS 2(d) or 2(e)
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
NUMBER OF 7 SOLE VOTING POWER
SHARES 376,582 Shares
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -----
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 376,582 Shares
PERSON WITH 10 SHARED DISPOSITIVE POWER
-----
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
376,582 Shares
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.78%
14 TYPE OF REPORTING PERSON*
PN, BD
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Item 1. Security and Issuer.
This statement refers to the Common Stock of Milestone Properties, Inc., 150 E.
Palmetto Park Road, Boca Raton, Florida, 33432. Leonard S. Mandor is the
Chairman of the Board.
Item 2. Identity and Background.
No change.
Item 3. Source and Amount of Funds or Other Compensation.
No change.
Item 4. Purpose of transaction.
No change.
Item 5. Interest in Securities of the Issuer.
(a) The persons reporting hereby owned the following shares of Common Stock as
of August 24, 2000.
Shares of Common Stock
Loeb Arbitrage Fund 376,582
Loeb Partners Corporation* 48,022
-------
424,604
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* Including 6,850 shares of Common Stock purchased for the accounts of two
customers of Loeb Partners Corporation as to which it has investment discretion.
The total shares of Common Stock constitute 9.90% of the 4,288,542 outstanding
shares of Common Stock as reported by the Issuer.
(b) See paragraph (a) above.
(c) The following purchases of Common Stock have been made in the last sixty
(60) days by the following:
Purchases of Common Stock
Holder Date Shares Average Price
Loeb Arbitrage Fund 6-28-00 243 $3.55
7-27-00 8400 3.74
8-07-00 982 3.74
8-08-00 695 3.74
8-10-00 8025 3.74
8-15-00 41000 3.81
8-16-00 7900 3.61
8-23-00 24700 3.43
8-24-00 25000 3.08
Holder Date Shares Average Price
Loeb Partners Corp.* 7-27-00 1100 $3.55
8-07-00 125 3.74
8-08-00 75 3.74
8-10-00 975 3.74
8-15-00 5000 3.74
8-16-00 1100 3.81
8-23-00 3300 3.61
8-24-00 3300 3.43
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*Including 6,850 shares of Common Stock purchased for the accounts of two
customers of Loeb Partners Corporation as to which it has investment discretion.
All reported transactions were effected on NASDAQ.
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(d) and (e). Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
the Issuer.
None.
Item 7. Materials to be Filed as Exhibits.
None.
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.
August 25, 2000 Loeb Arbitrage Fund
By: Loeb Arbitrage Management, Inc.
By: /s/ Arthur E. Lee
Arthur E. Lee, President
August 25, 2000 Loeb Partners Corporation
By: /s/ Arthur E. Lee
Arthur E. Lee
Executive Vice President
