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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 14D-1/A
TENDER OFFER STATEMENT PURSUANT TO SECTION 14(d)(1) OF THE SECURITIES EXCHANGE
ACT OF 1934
(AMENDMENT NO. 5)
FINAL AMENDMENT
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ILM II SENIOR LIVING, INC.
A VIRGINIA CORPORATION
(NAME OF SUBJECT COMPANY)
REDWOOD INVESTORS, LLC
A DELAWARE LIMITED LIABILITY COMPANY
ARLEN CAPITAL, LLC
(Bidder)
SHARES OF COMMON STOCK $.01 PAR VALUE
(TITLE OF CLASS OF SECURITIES)
449933
(CUSIP Number of Class of Securities)
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Arlen Capital, LLC
Don Augustine, Manager
1650 Hotel Circle North - Suite 200
San Diego, California 92108
(619) 686-2002
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications on Behalf of Bidder)
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14D-1
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CUSIP NO. 449933 Page 2 of 7 Pages
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1. Names of Reporting Persons
S.S. or I.R.S. Identification Nos. of Above Persons
Redwood Investors, LLC - IRS Identification #33-0744348
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2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) / /
(b) / /
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3. SEC Use Only
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4. Sources of Funds (See Instructions)
WC
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5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(e) or 2(f)
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6. Citizenship or Place of Organization
State of Delaware
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7. Aggregate Amount Beneficially Owned By Each Reporting Person
Less than 1 percent of the issued and outstanding Shares
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8. Check if the Aggregate in Row (7) Excludes Certain Shares (See
Instructions)
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9. Percent of Class Represented by Amount in Row (7)
Less than 1 percent of the issued and outstanding Shares
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10. Type of Reporting Persons (See Instructions)
OO
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14D-1
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CUSIP NO. 449933 Page 3 of 7 Pages
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1. Names of Reporting Persons
S.S. or I.R.S. Identification Nos. of Above Persons
Arlen Capital, LLC - IRS Identification #33-0713478
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2. Check the Appropriate Box if a Member of a Group (See Instructions) (a)/ /
(b)/ /
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3. SEC Use Only
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4. Sources of Funds (See Instructions)
AF
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5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(e) or 2(f)
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6. Citizenship or Place of Organization
State of California
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7. Aggregate Amount Beneficially Owned By Each Reporting Person
Less than 1 percent of the issued and outstanding Shares
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8. Check if the Aggregate in Row (7) Excludes Certain Shares (See
Instructions)
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9. Percent of Class Represented by Amount in Row (7)
Less than 1 percent of the issued and outstanding Shares
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10. Type of Reporting Persons (See Instructions)
OO
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AMENDMENT NO. 5 TO SCHEDULE 14D-1
This Amendment No. 5 amends the Offer to Purchase on Schedule 14D-1 filed with
the Securities and Exchange Commission on June 4, 1998 (the "Schedule 14D-1") by
Redwood Investors, LLC, a Delaware limited partnership (the "Purchaser"),
relating to the Offer by the Purchaser to purchase up to 700,000 shares of
common stock $.01 par value ("Shares") of ILM II Senior Living, Inc., a Virginia
Corporation, (the "Company"), at $7.00 per Share, upon the terms and conditions
set forth in the Offer to Purchase dated June 4, 1998, as amended by Amendment
No.1, dated July 15, 1998, Amendment No. 2 dated July 29, 1998, Amendment No. 3
dated July 29, 1998 and Amendment No. 4 dated August 12, 1998 and the related
Agreement of Sale (which, together with any supplements or amendments,
collectively constitute the "Offer"). Capitalized terms not otherwise defined
herein shall have the meaning ascribed to them in the Schedule 14D-1 and the
Offer to Purchase.
Item 4. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 4 (a) is hereby supplemented and amended as follows:
"The total amount of funds required by the Purchaser to purchase the 23,032
Shares accepted for payment pursuant to the Offer, exclusive of fees and
expenses, is $184,815. To date, the Purchaser has accepted for payment, a total
of 23,032 Shares. The Purchaser obtained such funds (plus amounts to pay fees
and expenses) from capital contributions from its partner and investors."
Item 6. INTEREST IN SECURITIES OF THE SUBJECT COMPANY.
Item 6 (a) - (b) is hereby supplemented and amended as follows:
"The Offer expired at 12:00 Midnight, Pacific Standard Time, on Friday
August 28, 1998. Based on the information provided by the depositary to the
reporting persons, pursuant to the Offer, as of 12:00 Midnight, Pacific Standard
Time on Friday August 28, 1998, the Purchaser accepted for payment 23,032
Shares, constituting less than 1 percent of the outstanding Shares. To date, the
Purchaser has accepted for payment, a total of 23,032 Shares, constituting
approximately 1 percent of the outstanding Shares."
SIGNATURE
After due 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: September 1, 1998 REDWOOD INVESTORS, LLC
By: Arlen Capital, LLC
its Manager
By: /s/ DON AUGUSTINE
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Don Augustine, Manager
