SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): December 16, 1999
American Mortgage Acceptance Company
(Exact Name of Registrant as Specified in Charter)
Massachusetts
(State or other Jurisdiction of Incorporation)
0-23972 13-6972380
(Commission File Number) (IRS Employer Identification Number)
625 Madison Avenue, New York, NY 10022
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (212) 421-5333
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Item 5. Other Events
On December 16, 1999, the Board of Trustees of American Mortgage
Acceptance Company ("AMAC") accepted the resignation of J. Michael Fried
from the positions of Chairman of the Board of Trustees and Chief
Executive Officer. The Board then unanimously named Stuart J. Boesky
Chairman of the Board of Trustees and Chief Executive Officer in Mr.
Fried's place. Mr. Boesky is currently the President and Chief
Operating Officer of AMAC. With his new appointment, Mr. Boesky will
cease to fill the position of Chief Operating Officer.
Mr. Boesky's term as Chairman of the Board of Trustees will expire
in 2000.
A biography for Mr. Boesky is set forth in AMAC's Proxy Statement
dated February 11, 1999 as well as in the press release attached as an
exhibit to this 8-K.
<PAGE>
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a). Financial Statements
Not Applicable
(b). Pro Forma Financial Information
Not Applicable
(c). Exhibits
99.1 December 22, 1999 Press Release
"American Mortgage Acceptance Company Elects
Stuart J. Boesky Chief Executive Officer
and Chairman of the Board of Trustees."
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
American Mortgage Acceptance Company
(Registrant)
BY: /s/ Stuart J. Boesky
Stuart J. Boesky
Chairman, President & CEO
January 4, 2000
<PAGE>
EXHIBIT 99.1
AT THE COMPANY AT THE FINANCIAL RELATIONS BOARD
Brenda Abuaf General Info: Paul Henning
Director of Analyst Info: Pamela K. Belfor
Shareholder Services Media Info: Martin Gitlin
(800) 831-4826 (212) 661-8030
AMERICAN MORTGAGE ACCEPTANCE COMPANY
ELECTS STUART J. BOESKY CHIEF EXECUTIVE OFFICER
AND CHAIRMAN OF THE BOARD OF TRUSTEES
NEW YORK, NY- December 22, 1999- The Board of Trustees of American Mortgage
Acceptance Company ("AMAC") (AMEX:AMC) has announced that Stuart J. Boesky has
been elected Chairman of the Board of Trustees and Chief Executive Officer of
AMAC. Additionally, Mr. Boesky has been appointed to the position of Chief
Executive Officer of Related AMI Associates, Inc. Mr. Boesky will succeed
J. Michael Fried who has resigned these positions. The Board has unanimously
endorsed Mr. Boesky's appointments.
Mr. Boesky has been the President of AMAC since its inception. He has 21 years
of real estate experience, 14 of which have been with Related Capital Company.
Mr. Boesky will continue to serve in the capacity of President of AMAC.
Commenting on his appointment, Stuart J. Boesky said, "I am very pleased to
have the support of the Board of Trustees as the Company is aggressively
implementing its new business plan. I am happy to be leading AMAC's management
team at a time when we are anticipating an acceleration of AMAC's growth for
the year 2000 in order to achieve our investment goals. Additionally, we wish
Mr. Fried success in his endeavors."
AMAC is a Real Estate Investment Trust ("REIT") that specializes in 1) the
origination of participating FHA insured multifamily mortgages, 2) the
origination of construction and permanent mortgage financing for affordable
multifamily housing pursuant to a venture with Fannie Mae, and 3) the
acquisition of subordinated interests in CMBS.
AMAC is managed by a three-member Board of Trustees, which has delegated daily
management to Related AMI Associates, Inc., an affiliate of Related Capital
Company ("RCC"), a nationwide fully integrated real estate financial services
firm. Since 1972, RCC and its affiliates have raised over $4 billion in equity
from over 106,000 investors to acquire a portfolio of over 1,000 properties,
bonds and mortgages with a value, at cost, of approximately $9 billion.
Certain items in this press release may constitute forward-looking
statements within the meaning of the Private Litigation Reform Act of
1995 and as such may involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of the Company to be materially different from any future
results, performance or achievements express or implied by such forward-
looking statements, including without limitation those set forth in
AMAC's Solicitation Statement dated February 11, 1999. Such forward-
looking statements speak only as of the date of this press release. The
Company expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any changes in the Company's expectations
with regard thereto or change in events, conditions or circumstances on
which any such statement is based.
