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OMB APPROVAL
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OMB Number: 3235-0104
Expires: September 30, 1998
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
________________________________________________________________________________
1. Name and Address of Reporting Person*
The Goldman Sachs Group, L.P.
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(Last) (First) (Middle)
85 Broad Street
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(Street)
New York, New York 10004
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(City) (State) (Zip)
________________________________________________________________________________
2. Date of Event Requiring Statement (Month/Day/Year)
4/13/99
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3. I.R.S. Identification Number of Reporting Person, if an Entity (Voluntary)
________________________________________________________________________________
4. Issuer Name and Ticker or Trading Symbol
Berkshire Realty Company, Inc. Symbol: BRI
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[_] Director [X] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
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________________________________________________________________________________
6. If Amendment, Date of Original (Month/Day/Year)
3/4/99
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7. Individual or Joint/Group Filing (Check Applicable Line)
[_] Form filed by One Reporting Person
[X] Form filed by More than One Reporting Person
<PAGE>
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Table I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
Common Stock 512,203(1) I(1) (1)
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
5(b)(v).
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
(Over)
SEC 1473 (7-97)
<PAGE>
FORM 3 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
BRI OP Limited Immed. N/A Common Stock 4,904,066(1) (1) I(1) (1)
Partnership Units
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</TABLE>
Explanation of Responses:
(1) See page 3 attached.
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
April 23, 1999
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**Signature of Reporting Person Date
See page 5 attached.
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, See Instruction 6 for procedure.
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 Number.
Page 2
SEC 1473 (7-97)
<PAGE>
Form 3
Continuation Sheet
Item 1: The Goldman Sachs Group, L.P.
85 Broad Street
New York, New York 10004
Item 2: April 13, 1999
Item 4: Berkshire Realty Company, Inc. - BRI
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Instruction 5(b)(v) list of other Reporting Persons:
This amendment is being filed by The Goldman Sachs Group, L.P. ("GSG"),
Whitehall Street Real Estate Limited Partnership XI ("Whitehall"), WXI/BRH
Gen-Par, L.L.C. ("WHGP"), WH Advisors, L.L.C. XI ("WH Advisors") and Goldman,
Sachs & Co. ("GS&Co.", and, together with GSG, Whitehall, WHGP and WH Advisors,
the "Reporting Persons") and amends the Form 3 filed by the Reporting Persons
(other than WHGP) on March 4, 1999. The principal business address for each of
the Reporting Persons is 85 Broad Street, New York, New York 10004.
Explanation of Responses:
On April 12, 1999, Berkshire Realty Holdings, L.P., a Delaware limited
partnership ("Berkshire Holdings"), was formed in connection with the
transactions that are described herein. The general partners of Berkshire
Holdings are WHGP, a wholly owned subsidiary of Whitehall, BRE/Berkshire GP
L.L.C., an affiliate of Blackstone ("Blackstone GP"), and Aptco Gen-Par, L.L.C.,
an affiliate of the BCLP Affiliates ("Krupp GP"). The limited partners of
Berkshire Holdings are Whitehall, certain other investment limited partnerships
and corporations affiliated with GS&Co. and GSG (the "GS Affiliated Investors"),
BRE/Berkshire LP L.L.C., an affiliate of Blackstone ("Blackstone LP"), and Aptco
Holdings, L.L.C., an affiliate of the BCLP Affiliates ("Krupp LP"). As
previously disclosed, Whitehall, Blackstone and BCLP had formed Aptco for the
purpose of making a merger proposal for the acquisition of the Company and
related transactions. As a result of the formation of Berkshire Holdings,
however, Berkshire Holdings and its affiliates, rather than Aptco, will
consummate the transactions described herein. As a result of the formation of
Berkshire Holdings, the partners of Berkshire Holdings, including WHGP, may be
deemed to have joined the "group"(within the meaning of Section 13(d) of the
Securities Exchange Act of 1934, as amended) that may have been deemed to have
been formed by the Reporting Persons, Blackstone and the BCLP Affiliates. Under
the terms of the partnership agreement of Berkshire Holdings, Krupp GP and Krupp
LP are required to contribute 512,203 shares of Common Stock and 4,904,066
partnership units ("OP Units") in BRI OP Limited Partnership, a Delaware limited
partnership which is the operating partnership of the Company, currently owned
by the BCLP Affiliates (the "Contributed Securities") to Berkshire Holdings,
prior to the consummation of the Merger (as defined below).* Such obligation and
contribution may be interpreted as a "pecuniary interest" of the partners of
Berkshire Holdings in such Contributed Securities within the meaning of Section
16.
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* Pursuant to the Amended and Restated Agreement of Limited Partnership
of BRI OP Limited Partnership, OP Units are convertible at any time into
shares of Common Stock on a one-for-one basis or, at the election of the
Company, into cash.
Page 3 of 5
<PAGE>
On April 13, 1999, Berkshire Holdings and BRI Acquisition, LLC, a wholly
owned subsidiary of Berkshire Holdings, entered into an Agreement and Plan of
Merger, dated as of April 13, 1999, with the Company pursuant to which, on the
terms and subject to the conditions set forth therein, among other things, BRI
Acquisition, LLC would be merged with and into the Company (provided that, at
the option of Berkshire Holdings, upon the satisfaction of certain conditions,
the Company would be merged with and into Berkshire Holdings) and the
stockholders of the Company (other than the Company, Berkshire Holdings, the
subsidiaries of Berkshire Holdings, and stockholders who properly exercise
dissenters' rights under Delaware law) would receive in cash $12.25 per share of
Common Stock (the "Merger").
Neither the present filing nor anything contained herein shall be construed
as an admission that the Reporting Persons together with the GS Affiliated
Investors, Blackstone, Blackstone GP, Blackstone LP, Krupp GP, Krupp LP and the
BCLP Affiliates constitute a "person" or "group" for any purpose. Neither the
present filing nor anything contained herein shall be construed as an admission
that Whitehall and WHGP together with the GS Affiliated Investors, Blackstone,
Blackstone GP, Blackstone LP, Krupp GP, Krupp LP and the BCLP Affiliates
constitute a "person" or "group" for any purpose other than what they may be
deemed to constitute under Section 13(d) of the Exchange Act. The Reporting
Persons disclaim beneficial ownership of, and any pecuniary interest in, any
shares of Common Stock or OP Units, including the Contributed Securities or any
other securities beneficially owned by the BCLP Affiliates, and neither the
present filing nor anything contained herein shall be construed as an admission
otherwise.
Page 4 of 5
<PAGE>
Form 3
Continuation Sheet
Item 1: The Goldman Sachs Group, L.P.
85 Broad Street
New York, New York 10004
Item 2: April 13, 1999
Item 4: Berkshire Realty Company, Inc. - BRI
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SIGNATURES:
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WHITEHALL STREET REAL ESTATE
LIMITED PARTNERSHIP XI
By: WH Advisors, L.L.C. XI,
its general partner
By: /s/ Elizabeth M. Burban
---------------------------------
Name: Elizabeth M. Burban
Title: Vice President
WH ADVISORS, L.L.C. XI
By: /s/ Elizabeth M. Burban
---------------------------------
Name: Elizabeth M. Burban
Title: Vice President
WXI/BRH Gen-Par, L.L.C.
By: /s/ Elizabeth M. Burban
---------------------------------
Name: Elizabeth M. Burban
Title: Vice President
THE GOLDMAN SACHS GROUP, L.P.
By: /s/ Hans L. Reich
---------------------------------
Name: Hans L. Reich
Title: Attorney-in-Fact
GOLDMAN, SACHS & CO.
By: /s/ Hans L. Reich
---------------------------------
Name: Hans L. Reich
Title: Attorney-in-Fact
Page 5 of 5
