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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934*
BERKSHIRE REALTY COMPANY, INC.
(Name of Issuer)
SHARES OF COMMON STOCK, PAR VALUE $0.01 PER SHARE
(Title of Class of Securities)
084710-10-2
(CUSIP Number)
PATRICK K. FOX
WESTBROOK REAL ESTATE PARTNERS, L.L.C.
13155 NOEL ROAD-LB54
SUITE 2300
DALLAS, TEXAS 75240
(972) 934-0100
with a copy to:
ALLEN CURTIS GREER, II
CADWALADER, WICKERSHAM & TAFT
100 MAIDEN LANE
NEW YORK, NEW YORK 10038
(212) 504-6660
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
FEBRUARY 25, 1999
(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 sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box |x|.
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See sections 240.13d-7 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 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 ("Exchange 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).
CUSIP No. 084710-10-2.
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF
INFORMATION CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND
UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER.
SEC 1746 (2-98)
<PAGE>
SCHEDULE 13D
CUSIP No. 084710-10-2 Page 2 of 18 Pages
- --------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Westbrook Real Estate Partners, L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|x| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
WC
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,688,107
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,857,547
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,688,107
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
OO
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 084710-10-2 Page 3 of 18 Pages
- --------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Westbrook Real Estate Partners Management II, L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|x| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
WC
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,688,107
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,857,547
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,688,107
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
OO
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 084710-10-2 Page 4 of 18 Pages
- --------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Westbrook Real Estate Fund II, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|x| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
WC
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,688,107
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,857,547
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,688,107
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 084710-10-2 Page 5 of 18 Pages
- --------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Westbrook Real Estate Co-Investment Partnership II, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|x| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
WC
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,688,107
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,857,547
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,688,107
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 084710-10-2 Page 6 of 18 Pages
- --------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Westbrook Berkshire Holdings, L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|x| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
WC
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,688,107
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,857,547
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,688,107
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
OO
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 084710-10-2 Page 7 of 18 Pages
- --------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Westbrook Berkshire Co-Holdings, L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|x| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
WC
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,688,107
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,857,547
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,688,107
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
OO
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 084710-10-2 Page 8 of 18 Pages
- --------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gregory J. Hartman
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|x| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
AF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,688,107
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,857,547
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,688,107
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 084710-10-2 Page 9 of 18 Pages
- --------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Paul D. Kazilionis
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|x| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
AF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,688,107
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,857,547
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,688,107
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 084710-10-2 Page 10 of 18 Pages
- --------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jonathan H. Paul
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|x| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
AF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,688,107
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,857,547
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,688,107
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 084710-10-2 Page 11 of 18 Pages
- --------------------- -------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
William H. Walton III
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)(a)|x| (b)|_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
AF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,688,107
EACH
REPORTING --------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,857,547
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,688,107
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
- --------------------------------------------------------------------------------
<PAGE>
Page 12 of 18 Pages
ITEM 1. SECURITY AND ISSUER
This statement relates to shares of Common Stock, par value
$0.01 per share (the "Common Stock"), of Berkshire Realty Company, Inc. (the
"Issuer"). The Issuer's principal executive office is located at One Beacon
Street, Boston, Massachusetts 02108.
ITEM 2(A). NAMES OF PERSONS FILING.
(1) Westbrook Real Estate Partners, L.L.C. ("WREP")
(2) Westbrook Real Estate Partners Management II, L.L.C. ("WREM II")
(3) Westbrook Real Estate Fund II, L.P. ("WREF II")
(4) Westbrook Real Estate Co-Investment Partnership II, L.P. ("WRECIP II")
(5) Westbrook Berkshire Holdings, L.L.C. ("Holdings")
(6) Westbrook Berkshire Co-Holdings, L.L.C. ("Co-Holdings")
(7) Gregory J. Hartman ("Hartman")
(8) Paul D. Kazilionis ("Kazilionis")
(9) Jonathan H. Paul ("Paul")
(10) William H. Walton III ("Walton")
Each of WREP, WREM II, Holdings and Co-Holdings is a Delaware
limited liability company. Each of WREF II and WRECIP II is a Delaware limited
partnership. Each of Hartman, Kazilionis, Paul and Walton is a managing member
of WREP. WREP is the managing member of WREM II. WREM II is the general partner
of each of WREF II and WRECIP II. WREF II is the managing member of Holdings,
and WRECIP II is the managing member of Co-Holdings. WREP, WREM II, WREF II,
WRECIP II, Holdings, Co-Holdings, Hartman, Kazilionis, Paul and Walton are
sometimes referred to collectively herein as the "Reporting Persons." The
agreement among the Reporting Persons relating to the joint filing of this
statement is attached as Exhibit 7.1 hereto.
ITEM 2(B). ADDRESS OF PRINCIPAL OFFICE OR, IF NONE, RESIDENCE.
(1) - (6), (9) - (10) 599 Lexington Avenue, Suite 3800 New
York, New York 10022
(7)
345 California Street, Suite 3450
San Francisco, California 94104
(8)
234 South Beach Road
Hobe Sound, Florida 33455
ITEM 2(C). PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT.
The principal business of Holdings and Co-Holdings is to make direct investments
in the Issuer. The principal business of WREF II is to make direct and indirect
<PAGE>
Page 13 of 18 Pages
investments in real estate interests, and the principal business of WRECIP II is
to make direct and indirect investments in real estate interests. The principal
business of WREM II is to serve as the general partner of each of WREF II and
WRECIP II. The principal business of WREP is to serve as the managing member of
WREM II and as the managing member of other similar funds. The principal
occupations of Hartman, Kazilionis, Paul and Walton are their activities on
behalf of WREP.
ITEM 2(D).
No Reporting Person has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) during the
last five years.
ITEM 2(E).
During the last five years, no Reporting Person was 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 further 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(F). STATE OF ORGANIZATION, OR CITIZENSHIP.
(1) - (6) Delaware
(7) - (10) United States of America
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Not applicable.
ITEM 4. PURPOSE OF TRANSACTION.
Not applicable.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) Holdings acquired on or about November 10, 1997, and is
the record owner of 2,103,300 shares of the Issuer's Series 1997-A Cumulative
Preferred Stock, $0.01 par value (the "Series 1997-A Stock") and the beneficial
owner of options to purchase 4,500 shares of the Issuer's Common Stock. As of
the date of this filing, Holdings' Series 1997-A Stock is convertible into
4,367,292 shares of Common Stock of the Issuer (the "Holdings Conversion
Shares"). The calculation of the number of Holdings Conversion Shares was
determined in accordance with Section 5 of the certificate of designation
(incorporated as Exhibit 7.2 hereto) of the Issuer which relates to the Series
1997-A Stock (the "Certificate of Designation").
Co-Holdings acquired on or about November 10, 1997, and is the
record owner of 233,700 shares of Series 1997-A Stock and the beneficial owner
of options to purchase 500 shares of the Issuer's Common Stock. As of the date
of this filing, Co-Holdings' Series 1997-A
<PAGE>
Page 14 of 18 Pages
Stock is convertible into 485,255 shares of Common Stock of the Issuer (the
"Co-Holdings Conversion Shares"). The calculation of the number of Co-Holdings
Conversion Shares was determined in accordance with Section 5 of the Certificate
of Designation. The acquisition by Holdings and Co-Holdings was pursuant to a
Stock Purchase Agreement dated as of September 19, 1997, among WREF II, Holdings
and the Issuer (the "Stock Purchase Agreement"), incorporated as Exhibit 7.3
hereto, utilizing WREF II and WRECIP II capital.
In addition, the Reporting Persons have been advised that on
October 31, 1997, certain clients of Morgan Stanley Asset Management, Inc.
("MSAM") acquired 400,000 shares of Series 1997-A Stock. Pursuant to Section
10(e) of the Certificate of Designation, in certain circumstances specified
therein WREF II has the right to vote or take action with respect to all issued
and outstanding shares of Series 1997-A Stock (including, without limitation,
those held by MSAM). As a consequence of such Section 10(e), the Reporting
Persons may be deemed (pursuant to Rule 13d-3(a)(1) under the Exchange Act) a
beneficial owner of the shares of Series 1997-A Stock held by MSAM, although
each of the Reporting Persons disclaims such beneficial ownership.
On November 13, 1997, Kazilionis was granted options to
purchase 5,000 shares of the Issuer's Common Stock, exercisable for a total
purchase price of $55,000. Pursuant to an agreement entered into on March 1,
1997, Kazilionis directed the options received as a result of his position of
director of the Issuer to WREF II and WRECIP II.
Because of their relationship as affiliated entities, both
Holdings and Co-Holdings may be deemed to own beneficially both the Holdings
Conversion Shares and the Co-Holdings Conversion Shares. As the sole managing
member of Holdings and Co-Holdings, respectively, each of WREF II and WRECIP II
may be deemed to own beneficially the Holdings Conversion Shares and the
Co-Holdings Conversion Shares. As the sole general partner of WREF II and WRECIP
II, WREM II may be deemed to own beneficially the Holdings Conversion Shares and
the Co-Holdings Conversion Shares. As the sole member of WREM II, WREP may be
deeemed to own beneficially the Holdings Conversion Shares and the Co-Holdings
Conversion Shares. As a managing member of WREP, each of Hartman, Kazilionis,
Paul and Walton may be deemed to own beneficially the Holdings Conversion Shares
and the Co-Holdings Conversion Shares.
Holdings disclaims beneficial ownership of the Co-Holdings
Conversion Shares. Co-Holdings disclaims beneficial ownership of the Holdings
Conversion Shares. WREF II, WRECIP II, WREM II, WREP, Hartman, Kazilionis, Paul
and Walton each disclaim beneficial ownership of the Holdings Conversion Shares
and the Co-Holdings Conversion Shares.
Each of the Reporting Persons may be deemed to own
beneficially 13.2% of the Issuer's Common Stock, which percentage is calculated
based upon (i) 37,217,985 shares of Common Stock reported outstanding by the
Issuer on September 30, 1998 and (ii) the shares of Common Stock issuable upon
the conversion of the outstanding Series 1997-A Stock and (iii) that number of
shares of Common Stock (5,000) issuable upon the exercise of the Kazilionis
Options.
<PAGE>
Page 15 of 18 Pages
The Reporting Persons intend to review their holdings with
respect to the Issuer on a continuing basis. Depending on the Issuer's business
and prospects, and upon future developments (including, but not limited to,
market prices of the Common Stock and availability and alternative uses of
funds, as well as conditions in the securities markets and general economic
conditions and industry conditions), the Reporting Persons may acquire other
securities of the Issuer, sell all or a portion of their Series 1997-A Stock or
other securities of the Issuer, now owned or hereafter acquired, or maintain
their position at current levels. Accordingly, the Reporting Persons reserve the
right to acquire additional securities of the Issuer or to dispose of some or
all of the securities of the Issuer beneficially owned by them either in the
open market, in privately negotiated transactions or otherwise, or take such
other action or actions with respect to the Series 1997-A Stock or the Common
Stock as they deem advisable, to the extent permitted under applicable federal
and state securities law. However, the Reporting Persons have no present
intention of engaging in any such transaction.
On February 25, 1999, Westbrook Real Estate Fund III, L.P., an
affiliate of the Reporting Persons with no beneficial interest in or dispositive
or voting power over the Holdings and Co-Holdings Conversion Shares, indicated
readiness to enter into negotiations with an unaffiliated borrower (together
with affiliates, "Borrower") to provide debt financing (the "Loan") to the
Borrower with respect to the Borrower's proposed acquisition of or merger with
the Issuer (the "Borrower's Proposal"). The Reporting Persons have been advised
that, if the terms of the Loan are successfully negotiated and if the Borrower
proceeds with the Borrower's Proposal, (a) the Loan would be subject to normal
conditions to closing, and (b) advances under the Loan would not be made until
the consummation of the Borrower's Proposal and the acquisition or redemption of
the equity securities of the Issuer (including the Series 1997-A Stock held by
the Reporting Persons). Under Rule 13d-1(e) under the Exchange Act, the
Reporting Persons may be deemed to be holding equity securities of the Issuer in
connection with a transaction which has the purpose of changing or influencing
the control of the Issuer. Neither the present filing nor anything contained
herein shall be construed as an admission to such effect. Pursuant to Rule
13d-1(k)(2) under the Exchange Act, the Reporting Persons are filing this
Schedule 13D oN their own behalf and not on behalf of any other person.
(b) Number of Shares as to which each Reporting Person has:
(i) Sole power to vote or direct the vote:
0 share for each Reporting Person;
(ii) Shared power to vote or direct the vote:
5,688,107 shares for each Reporting
Person;
(iii) Sole power to dispose or to direct the
disposition: 0 shares for each Reporting
Person;
(iv) Shared power to dispose or to direct the
disposition: 5,688,107 shares for each
Reporting Person.
<PAGE>
Page 16 of 18 Pages
(c) Except as set forth above, the Reporting Persons have not
effected any transactions in Common Stock or Series 1997-A Stock directly or
indirectly during the 60 days prior to the date of this Schedule 13D.
(d) No one other than the Reporting Persons has the right to
receive, or the power to direct the receipt of, dividends from, or the proceeds
from the sale of, the 2,337,000 shares of Series 1997-A Stock, 5,000 shares of
Common Stock subject to option grant, or any other securities of the Issuer
acquired by the Reporting Persons as described in Item 5.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Pursuant to the Certificate of Designation of the Issuer which
relates to the Series 1997-A Stock (the "Certificate of Designation") and is
filed as Exhibit 7.2 attached hereto, the holders of the Series 1997-A Stock
have rights, which include the right to elect one member of the Board of
Directors of the Issuer. Upon the occurrence of certain other events, the
holders of the Series 1997-A Stock shall have the right to elect additional
directors to the Board of Directors of the Issuer. Consequently, Kazilionis has
been designated as a member of the Board of Directors of the Issuer and has been
appointed to the Board of Directors by the existing Board of Directors of the
Issuer. Pursuant to Section 10(e) of the Certificate of Designation, in certain
circumstances described therein WREF II has the right to vote or take action
with respect to all issued and outstanding shares of Series 1997-A Stock
(including, without limitation, those held by MSAM). According to the terms of
the Stock Purchase Agreement, WREF II and WRECIP II, as assignee of WREF II,
also have certain preemptive rights exercisable upon the issuance by the Issuer
of additional Common Stock. The Issuer has granted to the holders of the Series
1997-A Stock certain registration rights, pursuant to a Registration Rights
Agreement (incorporated as Exhibit 7.4 hereto).
Except as described herein, to the best knowledge of the
Reporting Persons, there are no contracts, arrangements, understandings or
relationships (legal or otherwise) between the Reporting Persons and any other
persons with respect to any securities of the Issuer, including but not limited
to transfer or voting of any such securities, finder's fees, joint ventures,
loan or option arrangements, puts or calls, guarantees of profits, division of
profits or loss, or the giving or withholding of proxies, or a pledge or
contingency the occurrence of which would give another person voting power over
the securities of the Issuer.
<PAGE>
Page 17 of 18 Pages
ITEM 7. MATERIAL FILED AS EXHIBITS.
Exhibit 7.1. Joint Filing Agreement and Power of Attorney
(filed herewith).
Exhibit 7.2. Certificate of Designation of the Issuer, filed
October 31, 1997, designating 2,737,000 shares of
Series 1997-A Convertible Preferred Stock (filed as
Exhibit 4.1 to the Issuer's Report on Form 8-K, as
amended, filed November 5, 1997, and hereby
incorporated herein by reference).
Exhibit 7.3. Stock Purchase Agreement, dated as of September
19, 1997, among the Issuer, Westbrook Real Estate Fund
II, L.P. and Westbrook Berkshire Holdings, L.L.C.
(filed as Exhibit 10.32 to the Issuer's Report on Form
8-K, as amended, filed November 5, 1997, and hereby
incorporated herein by reference).
Exhibit 7.4. Registration Rights Agreement, dated as of
September 25, 1997, between Berkshire Realty Company,
Inc. and Westbrook Berkshire Holdings, L.L.C. (filed as
Exhibit 10.34 to the Issuer's Report of Form 8-K, as
amended, filed November 5, 1997, and hereby
incorporated herein by reference).
<PAGE>
Page 18 of 18 Pages
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.
WESTBROOK REAL ESTATE PARTNERS, L.L.C.
WESTBROOK REAL ESTATE PARTNERS MANAGEMENT II,
L.L.C.
WESTBROOK REAL ESTATE FUND II, L.P.
WESTBROOK REAL ESTATE CO-INVESTMENT PARTNERSHIP
II, L.P.
WESTBROOK BERKSHIRE HOLDINGS, L.L.C.
WESTBROOK BERKSHIRE CO-HOLDINGS, L.L.C.
Gregory J. Hartman
Paul D. Kazilionis
Jonathan H. Paul
William H. Walton III
By: /s/Patrick K. Fox
-------------------------------------------
Name: Patrick K. Fox
Title: Attorney-in-Fact
Date: March 8, 1999
JOINT FILING AGREEMENT
AND
POWER OF ATTORNEY
This JOINT FILING AGREEMENT and POWER OF ATTORNEY, dated as of
February 25, 1999 (this "AGREEMENT"), is by and among (i) Westbrook Real Estate
Partners, L.L.C. ("WREP"), (ii) Westbrook Real Estate Partners Management I,
L.L.C., (iii) Westbrook Real Estate Partners Management II, L.L.C., (iv)
Westbrook Real Estate Fund I, L.P., (v) Westbrook Real Estate Fund II, L.P.,
(vi) Westbrook Real Estate Co-Investment Partnership I, L.P., (vii) Westbrook
Real Estate Co-Investment Partnership II, L.P. (viii) Westbrook Berkshire
Holdings, L.L.C., (ix) Westbrook Berkshire Co-Holdings, L.L.C., (x) Gregory J.
Hartman, (xi) Paul D. Kazilionis, (xii) Jonathan H. Paul, (xiii) William H.
Walton III, and each other person or entity which shall execute and deliver a
counterpart of this Agreement pursuant to Section 4 hereof (each person or
entity listed in clauses (i) through (xiv) above and each such other person or
entity, a "REPORTING Person" and, collectively, the "REPORTING PERSONS").
Recitals:
Each Reporting Person except for WREP is a subsidiary or other affiliate
of WREP.
Certain of the Reporting Persons have made or will make a direct or
indirect equity investment in one or more of the business entities
(collectively, the "PUBLIC COMPANIES") listed on Schedule I hereto (as the same
may be amended from time to time as set forth herein, "SCHEDULE I"). Each of the
Public Companies has issued a class of securities registered pursuant to Section
12 of the Securities Exchange Act of 1934, as amended (the "ACT").
One or more of the Reporting Persons may now or in the future be required
to file statements or reports with the Securities and Exchange Commission (the
"COMMISSION") in respect of such equity investments, pursuant to Section 13
and/or Section 16 of the Act and the rules and regulations thereunder (each such
statement or report, an "SEC FILING").
Agreements:
Joint Filing Agreement. The Reporting Persons hereby agree that any SEC
Filing (including, without limitation, any statement on Schedule 13D, Schedule
13G, Form 3, Form 4 or Form 5) filed with the Commission by any Reporting Person
in respect of any Public Company is, and any amendment thereto filed by any
Reporting Person will be, filed on behalf of each Reporting Person named in such
SEC Filing or amendment.
Power of Attorney. Each Reporting Person hereby constitutes and appoints
Patrick K. Fox and Susan Merkel, and each of them, its or his true and lawful
attorney-in-fact, with full powers of substitution and resubstitution, for it or
him and in its or his name, place and stead, in any and all capacities, to sign
any SEC Filing (including, without limitation, any statement on Schedule 13D,
Schedule 13G, Form 3, Form 4 or Form 5) relating to any Public Company, and any
and all amendments thereto, and to file the same, with exhibits thereto, and
other documents in connection therewith, with the Commission, granting unto each
of said attorneys-in-fact full power and authority to do and perform each and
every act and thing requisite and necessary to be done in and about the
premises, as fully to all intents and purposes as they might or could do in
person, hereby ratifying and confirming all that each of said attorneys-in-fact
or his or her substitute may lawfully do or cause to be done by virtue hereof.
Amendment to Schedule I. At any time and from time to time, WREP may, in
its sole discretion and without the consent of any other party hereto, amend
Schedule I by adding one or more Public Companies to, and/or deleting one or
more Public Companies from, Schedule I hereof and inserting the date of such
amendment thereon. WREP shall thereupon file or cause to be filed with the
Commission a copy of this Agreement, as so amended, as an attachment to an
appropriate SEC Filing. Such Schedule I, as the same may be so amended from time
to time, is hereby incorporated herein and made a part hereof.
Additional Reporting Persons. Any subsidiary or other affiliate of WREP
designated by WREP may become a party to this Agreement by dating, executing and
delivering to WREP a counterpart hereof. WREP shall file or cause to be filed
with the Commission a copy of such counterpart as an attachment to an
appropriate SEC Filing, whereupon such signatory shall be, and shall be bound
as, a Reporting Person for all purposes of this Agreement.
Miscellaneous. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of New York. This Agreement may be
executed simultaneously in one or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument.
[SIGNATURE PAGES FOLLOW.]
<PAGE>
IN WITNESS WHEREOF, the undersigned have duly executed this
Agreement pursuant to the requirements of the Act as of the date first above
written.
WESTBROOK REAL ESTATE PARTNERS, L.L.C.
By: /s/Paul D. Kazilionis
---------------------------
Name: Paul D. Kazilionis
Title: Managing Member
By: /s/William H. Walton III
-----------------------------
Name: William H. Walton III
Title: Managing Member
WESTBROOK REAL ESTATE PARTNERS
MANAGEMENT I, L.L.C.
By: Westbrook Real Estate Partners, L.L.C.,
Managing Member
By: /s/Paul D. Kazilionis
---------------------------
Name: Paul D. Kazilionis
Title: Managing Member
By:/s/William H. Walton III
-----------------------------
Name: William H. Walton III
Title: Managing Member
WESTBROOK REAL ESTATE PARTNERS
MANAGEMENT II, L.L.C.
By: Westbrook Real Estate Partners, L.L.C.,
Managing Member
<PAGE>
By: /s/Paul D. Kazilionis
---------------------------
Name: Paul D. Kazilionis
Title: Managing Member
By: /s/William H. Walton III
-----------------------------
Name: William H. Walton III
Title: Managing Member
WESTBROOK REAL ESTATE FUND I, L.P.
By: Westbrook Real Estate Partners
Management I, L.L.C., General
Partner
By: Westbrook Real Estate Partners, L.L.C.,
Managing Member
By: /s/Paul D. Kazilionis
---------------------------
Name: Paul D. Kazilionis
Title: Managing Member
<PAGE>
By:/s/William H. Walton III
-----------------------------
Name: William H. Walton III
Title: Managing Member
WESTBROOK REAL ESTATE FUND II, L.P.
By: Westbrook Real Estate Partners
Management II, L.L.C., General
Partner
By: Westbrook Real Estate Partners, L.L.C.,
Managing Member
By: /s/Paul D. Kazilionis
---------------------------
Name: Paul D. Kazilionis
Title: Managing Member
By:/s/William H. Walton III
-----------------------------
Name: William H. Walton III
Title: Managing Member
WESTBROOK REAL ESTATE CO-INVESTMENT
PARTNERSHIP I, L.P.
By: Westbrook Real Estate Partners
Management I, L.L.C., General
Partner
By: Westbrook Real Estate Partners, L.L.C.,
Managing Member
By: /s/Paul D. Kazilionis
---------------------------
Name: Paul D. Kazilionis
Title: Managing Member
By:/s/William H. Walton III
-----------------------------
Name: William H. Walton III
Title: Managing Member
WESTBROOK REAL ESTATE CO-INVESTMENT
PARTNERSHIP II, L.P.
By: Westbrook Real Estate Partners, L.L.C.,
Management II, L.L.C., General
Partner
By: Westbrook Real Estate Partners, L.L.C.,
Managing Member
By: /s/Paul D. Kazilionis
---------------------------
Name: Paul D. Kazilionis
Title: Managing Member
By:/s/William H. Walton III
-----------------------------
Name: William H. Walton III
Title: Managing Member
<PAGE>
WESTBROOK BERKSHIRE HOLDINGS, L.L.C.
By: Westbrook Real Estate Fund II, L.P.,
Managing Member
By: Westbrook Real Estate Partners
Management II, L.L.C., General
Partner
By: Westbrook Real Estate Partners, L.L.C.,
Managing Member
By: /s/Paul D. Kazilionis
---------------------------
Name: Paul D. Kazilionis
Title: Managing Member
By:/s/William H. Walton III
-----------------------------
Name: William H. Walton III
Title: Managing Member
WESTBROOK BERKSHIRE CO-HOLDINGS, L.L.C.
By: Westbrook Real Estate Co-Investment
Partnership II, L.P., Managing
Member
By: Westbrook Real Estate Partners
Management II, L.L.C., General
Partner
By: Westbrook Real Estate Partners, L.L.C.,
Managing Member
By: /s/Paul D. Kazilionis
---------------------------
Name: Paul D. Kazilionis
Title: Managing Member
<PAGE>
By:/s/William H. Walton III
-----------------------------
Name: William H. Walton III
Title: Managing Member
/s/Gregory J. Hartman
----------------------------------------
Gregory J. Hartman
/s/Paul D. Kazilionis
----------------------------------------
Paul D. Kazilionis
/s/Jonathan H. Paul
---------------------------------------
Jonathan H. Paul
/s/William H. Walton III
----------------------------------------
William H. Walton III
<PAGE>
SCHEDULE I
PUBLIC COMPANIES
February 25, 1999
Public Company Ticker Symbol
Berkshire Realty Company, Inc. BRI
Burnham Pacific Properties, Inc. BPP
Corporate Office Property Trust OFC
Essex Property Trust, Inc. ESS
Sunstone Hotel Investors, Inc. SSI
