UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1(b) (c), and (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. __________)(1)
Developers Diversified Realty Corporation
- --------------------------------------------------------------------------------
(Name of issuer)
Class D Preferred Stock
- --------------------------------------------------------------------------------
(Title of class of securities)
251591103
- --------------------------------------------------------------------------------
(CUSIP number)
December 9, 1998
- --------------------------------------------------------------------------------
(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
(Continued on the following pages)
(Page 1 of 10 Pages)
- ----------------------------
(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).
<PAGE>
CUSIP No. 251591103 SCHEDULE 13G Page 2 of 10 Pages
================================================================================
1 | NAME OF REPORTING PERSONS
| S.S. or I.R.S. Identification No. of Above Persons
|
| AEW Capital Management, L.P.
- --------------------------------------------------------------------------------
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
- --------------------------------------------------------------------------------
3 | SEC USE ONLY
|
- --------------------------------------------------------------------------------
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
|
| State of Delaware
- --------------------------------------------------------------------------------
| 5 | SOLE VOTING POWER
| | 140,000
NUMBER OF |-----------------------------------------------------------
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY | | None
OWNED BY |-----------------------------------------------------------
EACH | 7 | SOLE DISPOSITIVE POWER
REPORTING | | 140,000
PERSON |-----------------------------------------------------------
WITH | 8 | SHARED DISPOSITIVE POWER
| | None
- --------------------------------------------------------------------------------
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 140,000 shares of Class D Preferred Stock
- --------------------------------------------------------------------------------
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
|
- --------------------------------------------------------------------------------
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 6.087%
- --------------------------------------------------------------------------------
12 | TYPE OF REPORTING PERSON*
| PN
================================================================================
* SEE INSTRUCTIONS
<PAGE>
CUSIP No. 251591103 SCHEDULE 13G Page 3 of 10 Pages
================================================================================
1 | NAME OF REPORTING PERSONS
| S.S. or I.R.S. Identification No. of Above Persons
|
| AEW TSF, L.L.C.
- --------------------------------------------------------------------------------
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
- --------------------------------------------------------------------------------
3 | SEC USE ONLY
|
- --------------------------------------------------------------------------------
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
|
| State of Delaware
- --------------------------------------------------------------------------------
| 5 | SOLE VOTING POWER
| | 140,000
NUMBER OF |-----------------------------------------------------------
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY | | None
OWNED BY |-----------------------------------------------------------
EACH | 7 | SOLE DISPOSITIVE POWER
REPORTING | | 140,000
PERSON |-----------------------------------------------------------
WITH | 8 | SHARED DISPOSITIVE POWER
| | None
- --------------------------------------------------------------------------------
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 140,000 shares of Class D Preferred Stock
- --------------------------------------------------------------------------------
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
|
- --------------------------------------------------------------------------------
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 6.087%
- --------------------------------------------------------------------------------
12 | TYPE OF REPORTING PERSON*
| OO
================================================================================
* SEE INSTRUCTIONS
<PAGE>
CUSIP No. 251591103 SCHEDULE 13G Page 4 of 10 Pages
================================================================================
1 | NAME OF REPORTING PERSONS
| S.S. or I.R.S. Identification No. of Above Persons
|
| AEW TSF, Inc.
- --------------------------------------------------------------------------------
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
- --------------------------------------------------------------------------------
3 | SEC USE ONLY
|
- --------------------------------------------------------------------------------
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
|
| Delaware
- --------------------------------------------------------------------------------
| 5 | SOLE VOTING POWER
| | 140,000
NUMBER OF |-----------------------------------------------------------
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY | | None
OWNED BY |-----------------------------------------------------------
EACH | 7 | SOLE DISPOSITIVE POWER
REPORTING | | 140,000
PERSON |-----------------------------------------------------------
WITH | 8 | SHARED DISPOSITIVE POWER
| | None
- --------------------------------------------------------------------------------
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 140,000 shares of Class D Preferred Stock
- --------------------------------------------------------------------------------
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
|
- --------------------------------------------------------------------------------
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 6.087%
- --------------------------------------------------------------------------------
12 | TYPE OF REPORTING PERSON*
| CO
================================================================================
* SEE INSTRUCTIONS
<PAGE>
CUSIP No. 251591103 SCHEDULE 13G Page 5 of 10 Pages
================================================================================
1 | NAME OF REPORTING PERSONS
| S.S. or I.R.S. Identification No. of Above Persons
|
| AEW Capital Management, Inc.
- --------------------------------------------------------------------------------
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
- --------------------------------------------------------------------------------
3 | SEC USE ONLY
|
- --------------------------------------------------------------------------------
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
|
| Massachusetts
- --------------------------------------------------------------------------------
| 5 | SOLE VOTING POWER
| | 140,000
NUMBER OF |-----------------------------------------------------------
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY | | None
OWNED BY |-----------------------------------------------------------
EACH | 7 | SOLE DISPOSITIVE POWER
REPORTING | | 140,000
PERSON |-----------------------------------------------------------
WITH | 8 | SHARED DISPOSITIVE POWER
| | None
- --------------------------------------------------------------------------------
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 140,000 shares of Class D Preferred Stock
- --------------------------------------------------------------------------------
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
|
- --------------------------------------------------------------------------------
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 6.087%
- --------------------------------------------------------------------------------
12 | TYPE OF REPORTING PERSON*
| CO
================================================================================
* SEE INSTRUCTIONS
<PAGE>
CUSIP No. 251591103 SCHEDULE 13G Page 6 of 10 Pages
================================================================================
1 | NAME OF REPORTING PERSONS
| S.S. or I.R.S. Identification No. of Above Persons
|
| AEW Targeted Securities Fund, L.P.
- --------------------------------------------------------------------------------
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
- --------------------------------------------------------------------------------
3 | SEC USE ONLY
|
- --------------------------------------------------------------------------------
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
|
| Delaware
- --------------------------------------------------------------------------------
| 5 | SOLE VOTING POWER
| | 140,000
NUMBER OF |-----------------------------------------------------------
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY | | None
OWNED BY |-----------------------------------------------------------
EACH | 7 | SOLE DISPOSITIVE POWER
REPORTING | | 140,000
PERSON |-----------------------------------------------------------
WITH | 8 | SHARED DISPOSITIVE POWER
| | None
- --------------------------------------------------------------------------------
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 140,000 shares of Class D Preferred Stock
- --------------------------------------------------------------------------------
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
|
- --------------------------------------------------------------------------------
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 6.087%
- --------------------------------------------------------------------------------
12 | TYPE OF REPORTING PERSON*
| LP
================================================================================
* SEE INSTRUCTIONS
<PAGE>
STATEMENT ON SCHEDULE 13G
Item 1(a). Name of Issuer:
Developers Diversified Realty Corporation
Item 1(b). Address of Issuer's Principal Executive Offices:
34555 Chagrin Boulevard, P.O. Box 8022
Chagrin Falls, Ohio 44022-8022
Item 2(a). Names of Person Filing:
AEW Capital Management, L.P.
AEW Capital Management, Inc.
AEW TSF, L.L.C.
AEW TSF, Inc.
AEW Targeted Securities Fund, L.P.
Item 2(b). Business Mailing Address for the Person Filing:
225 Franklin Street
Boston, MA 02110
Item 2(c). Citizenship:
Massachusetts for AEW Capital Management, Inc.
Delaware for all other entities
Item 2(d). Title of Class of Securities:
Class D Preferred Stock
Item 2(e). CUSIP Number:
251591103
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a:
Not Applicable
Item 4. Ownership:
(a) Amount Beneficially Owned:
140,000 shares of Class D Preferred Stock
(b) Percent of Class:
6.087%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
shares of Class D Preferred Stock
(ii) shared power to vote or to direct the vote:
None
(iii) sole power to dispose or to direct the
disposition of: shares of Class D Preferred
Stock
(iv) shared power to dispose or to direct the
disposition of:
None
Page 7 of 10
<PAGE>
Item 5. Ownership of Five Percent or Less of a Class:
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
Not Applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company:
Not Applicable
Item 8. Identification and Classification of Members of the Group:
Not Applicable
Item 9. Notice of Dissolution of Group:
Not Applicable
Item 10. Certification:
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
Page 8 of 10
<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.
Dated:
AEW CAPITAL MANAGEMENT, L.P.
By: AEW Capital Management, Inc., its general partner
By: /s/ James J. Finnegan
------------------------
Name: James J. Finnegan
Title: Vice President
AEW CAPITAL MANAGEMENT, INC.
By: /s/ James J. Finnegan
------------------------
Name: James J. Finnegan
Title: Vice President
AEW TSF, L.L.C.
By: AEW TSF, Inc., its managing member
By: /s/ James J. Finnegan
-----------------------
Name: James J. Finnegan
Title: Vice President
AEW TSF, Inc.
By: /s/ James J. Finnegan
-----------------------
Name: James J. Finnegan
Title: Vice President
AEW Targeted Securities Fund, L.P.
By: AEW TSF, L.L.C., its general partner
By: AEW TSF, Inc., its managing member
By: /s/ James J. Finnegan
-----------------------
Name: James J. Finnegan
Title: Vice President
Page 9 of 10
<PAGE>
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange Act of
1934, as amended, the undersigned agree to the joint filing on behalf of each of
them of a statement on Schedule 13G (including amendments thereto) with respect
to the Class D Preferred Stock of Developers Diversified Realty Corporation and
further agree that this agreement be included as an exhibit to such filing. Each
party to the agreement expressly authorizes each other party to file on its
behalf any and all amendments to such statement. Each party to this agreement
agrees that this joint filing agreement may be signed in counterparts.
In evidence whereof, the undersigned have caused this Agreement to be
executed on their behalf this 16th day of December, 1998.
AEW CAPITAL MANAGEMENT, L.P.
By: AEW Capital Management, Inc., its general
partner
By: /s/ James J. Finnegan
------------------------
Name: James J. Finnegan
Title: Vice President
AEW CAPITAL MANAGEMENT, INC.
By: /s/ James J. Finnegan
------------------------
Name: James J. Finnegan
Title: Vice President
AEW TSF, L.L.C.
By: AEW TSF, Inc., its managing member
By: /s/ James J. Finnegan
-----------------------
Name: James J. Finnegan
Title: Vice President
AEW TSF, Inc.
By: /s/ James J. Finnegan
-----------------------
Name: James J. Finnegan
Title: Vice President
AEW Targeted Securities Fund, L.P.
By: AEW TSF, L.L.C., its general partner
By: AEW TSF, Inc., its managing member
By: /s/ James J. Finnegan
-----------------------
Name: James J. Finnegan
Title: Vice President
Page 10 of 10
