SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 1)(1)
American Mortgage Acceptance Company
(formerly American Mortgage Investors Trust)
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(Name of Issuer)
Shares of beneficial interest, $.10 par value
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(Title of Class of Securities)
027568-10-4
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(CUSIP Number)
J. Michael Fried, c/o Phoenix Realty Group LLC
535 Madison Avenue, 26th Floor
New York, New York 10022, (212) 207-1999
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 20, 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 that 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 6 Pages)
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(1) 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 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).
(SC13D-07/99)
<PAGE>
CUSIP No. 13D Page 1 of 6 Pages
027568-10-4
________________________________________________________________________________
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
J. Michael Fried
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS*
PF/OO
________________________________________________________________________________
5 CHECK BOX 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
NUMBER OF 182,700
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY
_________________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 182,700
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
0
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
191,975*
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.0%
________________________________________________________________________________
14 TYPE OF REPORTING PERSON*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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* See Item 5 for relevant disclaimer.
<PAGE>
CUSIP No. 13D Page 2 of 6 Pages
027568-10-4
This Amendment No. 1 to the Statement on Schedule 13D (as defined below) amends
and supplements the Statement on Schedule 13D relating to the even tdate of
March 6, 2000 (the "Schedule 13D") of American Mortgage Acceptance Company filed
by J. Michael Fried.
________________________________________________________________________________
Item 1. Security and Issuer.
The text of Item 1 to the Schedule 13D is not amended.
________________________________________________________________________________
Item 2. Identity and Background.
The text of Item 2 to the Schedule 13D is not amended.
________________________________________________________________________________
Item 3. Source and Amount of Funds or Other Consideration.
The text of Item 3 to the Schedule 13D is amended and restated in its
entirety as follows:
$741,785 of the funds used to purchase the Voting Shares (as defined
in Item 5(a) below) were personal funds of the Reporting Person and
his wife, Janet C. Fried. $831,135 of the funds used to purchase the
Voting Shares (as defined in Item 5(a) below) were borrowed through
margin accounts with Chase Investment Services Corp. and Charles
Schwab & Co.
With respect to the Advisor Shares (as defined in Item 5(a) below), on
information and belief, the Reporting Person understands that
approximately 38,000 of such shares were issued to the Advisor by the
Issuer in connection with the organization of the Issuer and
approximately 10,000 of such shares were purchased by the Advisor
using its own funds.
________________________________________________________________________________
Item 4. Purpose of Transaction.
The text of Item 4 to the Schedule 13D is amended and restated in its
entirety as follows:
The Reporting Person has acquired the Voting Shares for investment
purposes. The Reporting Person may effect additional purchases on the
open market at appropriate prices. The Reporting Person will seek to
explore with management ways to increase shareholder value through
various strategies which may include, among others, expansion of
mortgage origination sources; potential consolidation with larger
similar companies; and/or current liquidation of the Issuer. The
Reporting Person may initiate discussions with shareholders regarding
ways to increase shareholder value.
________________________________________________________________________________
Item 5. Interest in Securities of the Issuer.
The text of Item 5 to the Schedule 13D is amended and restated in its
entirety as follows:
(a) The Reporting Person owns beneficially and of record 182,700
shares of beneficial interest of the Issuer (the "Voting Shares"),
which represent approximately 4.8% of the issued and outstanding
shares of beneficial interest of the Issuer. 77,200 of the Voting
Shares are held in an account of which the Reporting Person is the
sole owner. 105,500 of the Voting Shares are held by the Reporting
Person in a joint account with Janet C. Fried, the wife of the
Reporting Person. The Reporting Person has sole voting and dispositive
power with respect to all of the Voting Shares.
<PAGE>
In addition to the Voting Shares, the Reporting Person is the
beneficial owner of a 19.2% economic interest in Related AMI
Associates, Inc. (the "Advisor"), the advisor to the Issuer, and the
Advisor is the record and beneficial owner of 48,308 shares of
beneficial interest of the Issuer (the "Advisor Shares"). Pursuant to
an agreement between Related Capital Company ("Related"), an entity
controlled by the Reporting Person and the Reporting Person, Related
has sole control of the voting and dispositive rights with respect to
the Advisor Shares. See Item 6 below. The Reporting Person is not an
officer or director of Related and does not by contract or otherwise
have any control over the business or operations of Related. Therefore
the Reporting Person disclaims any voting or dispositive power with
respect to the Advisor Shares, although the Reporting Person may be
deemed to be the beneficial owner of 9,275 of the Advisor Shares,
representing 0.24% of the outstanding shares of beneficial interest of
the Issuer.
Therefore the Reporting Person may be deemed to be the beneficial
owner of 191,975 shares of beneficial interest of the Issuer,
representing approximately 5.0% of the outstanding shares of
beneficial interest of the Issuer.
(b) The Reporting Person has sole voting and dispositive power with
respect to 182,700 shares of beneficial interest of the Issuer. Based
on the retention by an unaffiliated third party of sole voting and
dispositive power with respect to the Advisor Shares, the Reporting
Person disclaims beneficial ownership of the 48,308 Advisor Shares.
(c) In addition to the purchases reflected in the Schedule 13D, which
are incorporated herein by reference, in the past sixty days, the
Reporting Person has purchased the following number of shares of
beneficial interest of the Issuer in open market transactions through
an American Stock Exchange specialist broker, on the dates and for the
prices indicated below:
<TABLE>
<CAPTION>
Date Action Security Price ($) Shares
---- ------ -------- --------- ------
<S> <C> <C> <C> <C>
3/14/00 Buy American Mortgage Acceptance Co. 8.5 1,200
3/15/00 Buy American Mortgage Acceptance Co. 8.5 1,800
3/20/00 Buy American Mortgage Acceptance Co. 8.5 200
3/20/00 Buy American Mortgage Acceptance Co. 8.625 2,800
</TABLE>
(d) None.
(e) Not applicable
<PAGE>
________________________________________________________________________________
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
The text of Item 6 to the Schedule 13D is not amended.
________________________________________________________________________________
Item 7. Material to be Filed as Exhibits.
The text of Item 7 to the Schedule 13D is not amended.
________________________________________________________________________________
<PAGE>
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.
March 28, 2000
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(Date)
/s/ J. Michael Fried
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(Signature)
J. Michael Fried / President
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(Name/Title)
Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).
