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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)
BURNHAM PACIFIC PROPERTIES, INC.
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(Name of Issuer)
COMMON STOCK, $.01 PAR VALUE 12232C108
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(Title of class of securities) (CUSIP number)
DAVID E. ZELTNER, ESQ.
WEIL, GOTSHAL & MANGES LLP
767 FIFTH AVENUE
NEW YORK, NEW YORK 10153
(212) 310-8000
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(Name, address and telephone number of person
authorized to receive notices and communications)
JUNE 14, 2000
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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 which 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 9 Pages)
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NY2:\900702\03\J@Z$03!.DOC\72825.0006
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<TABLE>
<CAPTION>
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CUSIP No. 12232C108 13D Page 2 of 9
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<S> <C>
1 NAMES OF REPORTING PERSONS: JUBILEE LIMITED PARTNERSHIP
I.R.S. IDENTIFICATION NOS. 31-1382356
OF ABOVE PERSONS:
------------------- ----------------------------------------------------------------------------------------- ----------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [_]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ------------------------------ ---------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK
------------------- ----------------------------------------------------------------------------------------- ----------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------- ------------------------------------------------- --------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: OHIO
---------------------------- ------- --------------------------------------------- -------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 1,386,000
SHARES
------- --------------------------------------------- -------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
------- --------------------------------------------- -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 1,386,000
REPORTING
------- --------------------------------------------- -------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
------------------- -------------------------------------------------------------- -------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,386,000
------------------- ----------------------------------------------------------------------------------------- ----------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------- ----------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.3%
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14 TYPE OF REPORTING PERSON: PN
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<PAGE>
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CUSIP No. 12232C108 13D Page 3 of 9
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1 NAMES OF REPORTING PERSONS: JUBILEE LIMITED PARTNERSHIP III
I.R.S. IDENTIFICATION NOS. 31-1487226
OF ABOVE PERSONS:
------------------- ----------------------------------------------------------------------------------------- ----------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [_]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ------------------------------ ---------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK
------------------- ----------------------------------------------------------------------------------------- ----------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------- ------------------------------------------------- --------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: OHIO
---------------------------- ------- --------------------------------------------- -------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 1,219,800
SHARES
------- --------------------------------------------- -------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
------- --------------------------------------------- -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 1,219,800
REPORTING
------- --------------------------------------------- -------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
------------------- -------------------------------------------------------------- -------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,219,800
------------------- ----------------------------------------------------------------------------------------- ----------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------- ----------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 3.8%
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14 TYPE OF REPORTING PERSON: PN
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<PAGE>
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CUSIP No. 12232C108 13D Page 4 of 9
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1 NAMES OF REPORTING PERSONS: SCHOTTENSTEIN PROFESSIONAL ASSET MANAGEMENT CORP.
I.R.S. IDENTIFICATION NOS. 31-1289300
OF ABOVE PERSONS:
------------------- ----------------------------------------------------------------------------------------- ----------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [_]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ------------------------------ ---------------------------------------------------------------------------------
4 SOURCE OF FUNDS: NOT APPLICABLE
------------------- ----------------------------------------------------------------------------------------- ----------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------- ------------------------------------------------- --------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
---------------------------- ------- --------------------------------------------- -------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------- --------------------------------------------- -------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 2,605,800
OWNED BY
------- --------------------------------------------- -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------- --------------------------------------------- -------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 2,605,800
------------------- -------------------------------------------------------------- -------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 2,605,800
------------------- ----------------------------------------------------------------------------------------- ----------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------- ----------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 8.1%
------------------- ------------------------------------------------- --------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------- ------------------------------------------------- --------------------------------------------------------------
<PAGE>
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CUSIP No. 12232C108 13D Page 5 of 9
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1 NAMES OF REPORTING PERSONS: JAY L. SCHOTTENSTEIN
I.R.S. IDENTIFICATION NOS. ###-##-####
OF ABOVE PERSONS:
------------------- ----------------------------------------------------------------------------------------- ----------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [_]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ------------------------------ ---------------------------------------------------------------------------------
4 SOURCE OF FUNDS: NOT APPLICABLE
------------------- ----------------------------------------------------------------------------------------- ----------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------- ------------------------------------------------- --------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA
---------------------------- ------- --------------------------------------------- -------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
------- --------------------------------------------- -------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 3,036,600
OWNED BY
------- --------------------------------------------- -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
------- --------------------------------------------- -------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 3,036,600
------------------- -------------------------------------------------------------- -------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 3,036,600
------------------- ----------------------------------------------------------------------------------------- ----------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------- ----------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.4%
------------------- ------------------------------------------------- --------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
------------------- ------------------------------------------------- --------------------------------------------------------------
<PAGE>
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CUSIP No. 12232C108 13D Page 6 of 9
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1 NAMES OF REPORTING PERSONS: SCHOTTENSTEIN STORES CORPORATION
I.R.S. IDENTIFICATION NOS. 31-0820773
OF ABOVE PERSONS:
------------------- ----------------------------------------------------------------------------------------- ----------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [_]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ------------------------------ ---------------------------------------------------------------------------------
4 SOURCE OF FUNDS: WC
------------------- ----------------------------------------------------------------------------------------- ----------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------- ------------------------------------------------- --------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
---------------------------- ------- --------------------------------------------- -------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 430,800
SHARES
------- --------------------------------------------- -------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
------- --------------------------------------------- -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 430,800
REPORTING
------- --------------------------------------------- -------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
------------------- -------------------------------------------------------------- -------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 430,800
------------------- ----------------------------------------------------------------------------------------- ----------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------- ----------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.3%
------------------- ------------------------------------------------- --------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
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</TABLE>
<PAGE>
This Amendment No. 6 ("Amendment No. 6") amends and
supplements the Statement on Schedule 13D (the "Schedule 13D"), filed on June 7,
1999, as amended by Amendment No. 1 filed on June 16, 1999, Amendment No. 2
filed on July 12, 1999, Amendment No. 3 filed on February 1, 2000, Amendment No.
4 filed on February 8, 2000 and Amendment No. 5 filed on February 23, 2000, by
Jubilee Limited Partnership ("JLP"), Jubilee Limited Partnership III ("JLPIII"),
Schottenstein Professional Asset Management Corp. ("SPAMC"), Jay L.
Schottenstein ("JS") and Schottenstein Stores Corporation ("SSC"). JLP, JLPIII,
SPAMC, JS and SSC (each a "Reporting Person") constitute a "group" for purposes
of Rule 13d-5 under the Securities Exchange Act of 1934, as amended, with
respect to their respective beneficial ownership of the Shares (as defined
below) and are collectively referred to as the "Schottenstein Group."
Capitalized terms used herein and not defined herein have the meanings ascribed
thereto in the Schedule 13D. Information contained herein with respect to each
Reporting Person is given solely by such Reporting Person, and no other member
of the Schottenstein Group has responsibility for the accuracy or completeness
of information supplied by such Reporting Person.
ITEM 1. SECURITY AND ISSUER.
This Amendment No. 6 relates to shares of common stock,
$.01 par value (the "Shares"), of Burnham Pacific Properties, Inc., a Maryland
corporation (the "Company"). The principal executive offices of the Company are
located at 610 West Ash Street, San Diego, CA 92101.
ITEM 4. PURPOSE OF TRANSACTION.
The information set forth in Item 4 of the Schedule 13D is
hereby amended and supplemented by the following:
The Schottenstein Group believes that the Company's current
management bears responsibility for a dramatic loss in shareholder value and
that its current activities, including its continuing sale of properties to, in
effect, continue to pay dividend's and fund excessive expenses, is not in the
interests of the shareholders. Accordingly, the Schottenstein Group intends to
nominate a slate of directors for election at the Company's 2000 Annual Meeting
of Shareholders (the "2000 Annual Meeting") with a view toward obtaining control
of the Board of Directors and replacing management. The Schottenstein Group
plans to furnish the Company with notice of its nominees for election at the
2000 Annual Meeting and to submit a proxy statement to the shareholders in
connection with such meeting in due course. The Schottenstein Group expects that
its slate will include, among others, Jay Schottenstein, Chairman of the Board
and Chief Executive Officer of SSC, Thomas R. Kettler, Chief Operating and
Financial Officer of SSC, George Kolber, Vice Chairman and Chief Executive
Officer of American Eagle Outfitters, and Gerald E. Wedrin, President of Craig
Capital Co.
(7 of 9)
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The Company has announced that it has postponed its 2000
Annual Meeting (which its by-laws required to be held in May, 2000) for the
third time until October 18, 2000. The Schottenstein Group believes that such a
delay is not lawful under the Maryland General Corporation Law and common law
and intends to institute legal proceedings to, among other things, compel the
Company to hold its annual meeting no later than August 31, 2000.
It should be noted that the possible activities of the
Schottenstein Group are subject to change at any time and the Schottenstein
Group may purchase additional Shares of the Company from time to time in the
open market, in privately negotiated transactions with third parties or
otherwise or may sell Shares held by it in the open market, in privately
negotiated transactions or otherwise.
Except as set forth above and in the Schedule 13D, none of
the Reporting Persons has any plans or proposals which relate to or would result
in any of the actions set forth in parts (a) through (j) of Item 4.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The information set forth in Item 5(a) of the Schedule 13D
is hereby amended and supplemented by adding the following information thereto:
(a) As of the date of this Amendment No. 6, the
Schottenstein Group beneficially owned the number of Shares respectively set
forth below. The percentages set forth below and on pages 2-6 hereto represent
the percentage of the outstanding Shares (based on a total of 32,318,796 Shares
outstanding on March 12, 2000, as reported in the Company's Quarterly Report on
Form 10-Q for the fiscal quarter ended March 31, 2000) represented by the Shares
beneficially owned by the Reporting Persons.
Reporting Person Number of Shares Percent
---------------- ---------------- -------
JLP 1,386,000 4.3%
JLPIII 1,219,800 3.8%
SPAMC 2,605,800 8.1%
JS 3,036,600 9.4%
SSC 430,800 1.3%
As of the date of this Amendment No. 6, the Schottenstein
Group beneficially owned an aggregate of 3,036,600 Shares, or approximately 9.4%
of the Shares deemed outstanding.
(8 of 9)
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SIGNATURE
After reasonable inquiry and to the best of my knowledge
and belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: June 14, 2000
JUBILEE LIMITED PARTNERSHIP
By: SCHOTTENSTEIN PROFESSIONAL ASSET
MANAGEMENT CORP., as sole general partner
By: /s/ Jay L. Schottenstein
-------------------------------------
Name: Jay L. Schottenstein
Title: President & Chairman
JUBILEE LIMITED PARTNERSHIP III
By: SCHOTTENSTEIN PROFESSIONAL ASSET
MANAGEMENT CORP., as sole general partner
By: /s/ Jay L. Schottenstein
-------------------------------------
Name: Jay L. Schottenstein
Title: President & Chairman
SCHOTTENSTEIN STORES CORPORATION
By: /s/ Jay L. Schottenstein
-----------------------------------------
Name: Jay L. Schottenstein
Title: Chairman & Chief Executive Officer
/s/ Jay L. Schottenstein
-----------------------------------------
JAY L. SCHOTTENSTEIN
(9 of 9)
