<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
---------
HORIZON GROUP PROPERTIES, INC.
--------------------------------------------------------
(Name of Issuer)
COMMON
--------------------------------------------------------
(Title of Class of Securities)
44041U-10-2
--------------------------------------------------------
(CUSIP Number)
HOWARD AMSTER, 23811 CHAGRIN BLVD #200, BEACHWOOD OH 44122-5525 (216) 595-1047
--------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
7/10/98
--------------------------------------------------------
(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(b)(3) or (4), check the following
box / /.
Check the following box if a fee being paid with the statement / /. (A fee
is not required only if the reporting person: has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such
class.) (See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*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 ("Act") 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>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 2 of 19 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
HOWARD AMSTER
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
PF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 37074
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 92232
--------------------------------------------------
(9) Sole Dispositive
Power 37074
--------------------------------------------------
(10) Shared Dispositive
Power 92232
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
141028
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/X/
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
5.09%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 3 of 19 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
AMSTER TRADING COMPANY
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WC
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 83570
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 83570
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
74943
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/X/
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
2.71%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
CO
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 4 of 19 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
TAMRA F GOULD
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
PF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 6040
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 6040
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
2040
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/X/
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
.07%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 5 of 19 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
GOULD TRADING COMPANY
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WC
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 2040
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 2040
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
2040
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/X/
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
.07%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
CO
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 6 of 19 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
AMSTER TRADING COMPANY CHARITABLE REMAINDER UNITRUSTS
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
AF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 8627
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 8627
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
8627
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/ /
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
.31%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
OO
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 7 of 19 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
HOWARD M AMSTER CHARITABLE REMAINDER UNITRUST
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
AF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 4600
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 4600
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
4600
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/ /
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
.17%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
OO
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 8 of 19 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
HOWARD AMSTER & TAMRA F GOULD CHARITABLE REMAINDER UNITRUST
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
AF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 4000
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 4000
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
4000
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/ /
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
.14%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
OO
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 9 of 19 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
PLEASANT LAKE APTS CORP
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WO
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 35
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 35
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
35
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/ /
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
.00%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
CO
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 10 of 19 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
RAMAT SECURITIES LTD
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WC
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 29009
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power
--------------------------------------------------
(9) Sole Dispositive
Power 29009
--------------------------------------------------
(10) Shared Dispositive
Power
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
29009
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/ /
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
1.04%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
BD
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 11 of 19 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Person
S.S. or I.R.S. Identification Nos. of Above
Persons
JEFFREY SHAFER
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
PF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 62
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 62
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
31
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/X/
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
.00%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 44041U-10-2 Page 12 of 19 Pages
Item 1. Security and Issuer
Horizon Group Properties, Inc.
Horizon Group Properties, Inc.
5000 Hakes Drive
Norton Shores, MI 49441
Gary J. Skoien, CEO
Item 2. Identity and Background
Howard Amster and Tamra F. Gould are husband and wife. Each has independent
assets and each disclaims any beneficial ownership in the other's assets.
Howard Amster is a 99 1/2% owner of Amster Trading Company and as such can be
deemed the beneficial owner of such entity and maybe deemed to have shared
voting and dispositive power over shares owned by Amster Trading Company.
Howard Amster is a 100% owner of Pleasant Lake Apts Corp and as such can be
deemed the beneficial owner of such entity and maybe deemed to have shared
voting and dispositive power over shares owned by Pleasant Lake Apts Corp.
Howard Amster is a 83% owner of Ramat Securities Ltd. Howard Amster can be
deemed to be a beneficial owner of any securities owned by Ramat Securities
Ltd. Mr. Amster is not an officer of Ramat Securities Ltd. and does not
control the voting or dispositive power of any securities owned by Ramat
Securities Ltd.
Howard M. Amster Charitable Remainder Unitrust has been 100% funded by Howard
Amster. Because he has the right to change the trustee of this trust, he can
be deemed to have the right to shared voting and dispositive power over any
security owned by the trust. While Mr. Amster receives certain income
distributions from the trust during his lifetime, the assets owned by the
trust benefits charitable purposes. Mr. Amster disclaims
beneficial ownership of the securities owned by this trust.
Howard Amster and Tamra F. Gould Charitable Remainder Unitrust has been 100%
funded by Howard Amster. Because he has the right to change the trustee of
this trust, he can be deemed to have the right to shared voting and
dispositive power over any security owned by the trust. While Mr. Amster
receives certain income distributions from the trust during his lifetime, the
assets owned by the trust benefits charitable purposes. Both, Mr. Amster and
Ms. Gould disclaim beneficial ownership of the securities owned by this trust.
Amster Trading Company Charitable Remainder Unitrusts have been 100% funded
by Amster Trading Company. Because Amster Trading Company has the right to
change the trustee of the trusts, it can be deemed to have the right to
shared voting and dispositive power over any security owned by the trusts.
While Amster Trading Company receives certain income distributions from the
trusts, the assets owned by the trusts benefits charitable purposes. Amster
Trading Company disclaims beneficial
<PAGE>
ownership of the securities owned by these trusts.
Tamra F. Gould is 100% owner of Gould Trading Company and as such can be
deemed the beneficial owner of such entity and may be deemed to have shared
voting and dispositive power over shares owned by Gould Trading Company.
a) Howard Amster
b) 25812 Fairmount Blvd., Beachwood, Ohio 44122
c) Present principal occupation-Investment Consultant Everen
Securities, Inc.-Securities Brokerage Firm 23811 Chagrin Blvd, Suite
200 Beachwood, Ohio 44122
d) Howard Amster has not been convicted in any criminal proceedings
(excluding traffic violations or similar misdemeanors, if any) within
the last five years.
e) Howard Amster has not been a party to any civil proceedings of a
judicial or administrative body of competent jurisdiction of the
type described in Item 2 of Schedule 13D within the last five years.
f) USA
a) Tamra F. Gould
b) 25812 Fairmount Blvd, Beachwood, Ohio 44122.
c) Present principal occupation-Securities Trader Tamar Securities,
Inc., a Broker Dealer 25812 Fairmount Blvd., Beachwood, Oh 44122
d) Tamra F. Gould has not been convicted in any criminal proceedings
(excluding traffic violations or simialar misdemeanors, if any)
within the last five years.
e) Tamra F. Gould has not been a party to any civil proceedings of a
judicial or administrative body of competent jurisdiction of the
type described in Item 2 of schedule 13D within the last five years.
f) USA
Amster Trading Company
25812 Fairmount Blvd
Beachwood, Ohio 44122
Investments
d) Neither the officers, directors, or shareholders of Amster Trading
Company have been convicted in any criminal proceedings (excluding
traffic violations or similar misdemeanors, if any) within the last
five years.
e) Neither the officers, directors, or shareholders of Amster Trading
Company have been a party to any civil proceedings of a judicial or
administrative body of competent jurisdiction of the type described
in Item 2 of Schedule 13D within the last five years.
Amster Trading Company Charitable Remainder Unitrusts
22674 Halburton Road
Beachwood, Ohio 44122
Charitable Remainder Unitrusts
d) Neither the trusts or the trustee of the Amster Trading Company
Charitable Remainder Unitrusts have been convicted in any criminal
proceedings (excluding traffic violations or similar misdemeanors,
if any) within the last five years.
e) Neither the trusts or the trustee of the Amster Trading Company
Charitable Remainder Unitrusts have been a party to any civil
proceedings of a judicial or administrative body of competent
jurisdiction of the type described in Item 2 of Schedule 13D within
the last five years.
Howard M. Amster Charitable Remainder Unitrust
22674 Halburton Road
Beachwood, Ohio 44122
Charitable Remainder Unitrust
<PAGE>
d) Neither the trust or the trustee of the Howard M Amster Charitable
Remainder Unitrust have been convicted in any criminal proceedings
(excluding traffic violations or similar misdemeanors, if any)
within the last five years.
e) Neither the trust or the trustee of the Howard M Amster Charitable
Remainder Unitrust have been a party to any civil proceedings of a
judicial or administrative body or competent jurisdiction of the
type described in Item 2 of Schedule 13D within the last five years.
Howard Amster and Tamra F. Gould Charitable Remainder Unitrust
22674 Halburton Road
Beachwood, Ohio 44122
Charitable Remainder Unitrust
d) Neither the trust or the trustee of the Howard Amster and Tamra F.
Gould Charitable Remainder Unitrust have been convicted in any
criminal proceedings (excluding traffic violations or similar
misdemeanors, if any) within the last five years.
e) Neither the trust or the trustee of the Howard Amster and Tamra F.
Gould Charitable Remainder Unitrust have been a party to any civil
proceedings of a judicial or administrative body or competent
jurisdictions of the type described in Item 2 of Schedule 13D within
the last five years.
Pleasant Lakes Apts Corp
25812 Fairmount Blvd
Beachwood, Ohio 44122
Investments
d) Neither the officers, directors, or shareholders of Pleasant Lake
Apts Corp have been convicted in any criminal proceedings (excluding
traffic violations or similar misdemeanors, if any) within the last
five years.
e) Neither the officers, directors, or shareholders of Pleasant Lake
Apts Corp have been a party to any civil proceedings of a judicial
or administrative body or competent jurisdictions of the type
described in Item 2 of Schedule 13D within the last five years.
Ramat Securities Ltd
23811 Chagrin Blvd Suite 200
Beachwood, Ohio 44122
Broker Dealer
d) Neither the members or unitholders of Ramat Securities Ltd have been
convicted in any criminal proceedings (excluding the traffic
violations or similar misdemeanors, if any) within the last five
years.
e) Neither the members or unitholders of Ramat Securities Ltd have been
a party to any civil proceedings of a judicial or administrative
body or competent jurisdictions of the type described in Item 2 of
Schedule 13D within the last five years.
a) Jeffrey Shafer
b) 3289 Stockholm Road, Shaker Heights, Ohio 44120
c) Present Principal occupation-Mortgage Banker
J S Multi Capital,
Mortgage Banking
3690 Orange Place #12
Cleveland, Ohio 44122
d) Jeffrey Shafer has not been convicted in any criminal proceedings
(excluding traffic violations or similar misdemeanors, if any)
within the last five years.
<PAGE>
e) Jeffrey Shafer has not been a party to any civil proceedings of a
judicial or administrative body of competent jurisdiction of the
type described in Item 2 of Schedule 13d within the last five years.
f) USA
Item 3. Source and Amount of Funds or Other Consideration
Howard Amster, in his personal and individual retirement accounts purchased
all the Horizon Group Properties, Inc. with personal funds without borrowing.
The total consideration of the purchases is $245,240.16.
Gould Trading Company purchased all the Horizon Group Properties, Inc. with
working capital without borrowing.
The total consideration of the purchases is $13,132.50.
Howard Amster and Jeffrey Shafer purchased all the Horizon Group Properties,
Inc. with personal funds without borrowing.
The total consideration for the purchases is $399.13.
Amster Trading Company purchased all the Horizon Group Properties with
working capital without borrowing.
The total consideration for the purchases is $465,905.30.
Amster Trading Company Charitable Remainder Unitrusts purchased all the
Horizon Group Properties, Inc. with trust assets without borrowing.
The total consideration for the purchases is $56,172.56.
Howard M. Amster Charitable Remainder Unitrust purchased all Horizon Group
Properties, Inc. with trust assets without borrowing.
The total consideration for the purchases is $31,061.19.
Howard Amster and Tamra F. Gould Charitable Remainder Unitrust purchased
all Horizon Group Properties, Inc. with trust assets without borrowing.
The total consideration for the purchases is $26,234.30.
Pleasant Lakes Apts Corp. purchased all Horizon Group Properties with working
capital without borrowing.
The total consideration for the purchases is $225.31.
Ramat Securities Ltd. purchased all Horizon Group Properties with working
capital without borrowing.
The total consideration for the purchases is $180,681.63.
Item 4. Purpose of Transaction.
Howard Amster, Amster Trading Company, Gould Trading Company, Amster Trading
Company Charitable Remainder Unitrusts, Howard M. Amster Charitable Remainder
Unitrust, Howard Amster and Tamra F. Gould Charitable Remainder Unitrust,
Pleasant Lake Apts. Corp., Ramat Securities Ltd., Jeffrey Shafer acquired
their shares for purposes of investment.
There are no present plans or proposals by any of the purchasers of record or
the beneficial owners as reported in this Schedule 13D which relate to or
would result in the following:
<PAGE>
a) The acquisition by any person of additional securities of the
issuer, or the disposition of securities of the issuer provided,
however, the reporting persons might acquire additional shares or
other securities of the issuer or dispose of some or all of their
shares depending upon market conditions and their personal
circumstances;
b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the issuer or any of its
subsidiaries
c) A sale or transfer of a material amount of assets of the issuer or
any of its subsidiaries;
d) Any change in the present board of directors or management of the
issuer, including any plans or proposals to change the number of
terms of directors or to fill any existing vacancies on the board;
e) Any material change in the present capitalization or dividend policy
of the issuer;
f) Any other material change in the issuer's business or corporate
structure;
g) Changes in the issuer's charter, bylaws or instruments corresponding
thereto or other actions which may impede the acquisition of control
of the issuer by any person;
h) Causing a class of securities of the issuer to be delisted from a
national securities exchange or cease to be authorized to be quoted
in an inter-dealer quotation system of a registered national
securities association;
i) A class of equity securities of the issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Act;
or
j) Any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer
(a)(b) The aggregate amount owned by the Reporting Persons is 160,355
shares or 5.78% of the outstanding shares.
Howard Amster in his own name and individual retirement accounts
owns 37,039 shares or 1.34% of the outstanding shares.
Gould Trading Company owns 2,040 shares or .07% of the outstanding
shares.
Howard Amster and Jeffrey Shafer as tenants in common own 62 shares
or .00% of the outstanding shares.
Howard Amster disclaims ownership of 1/2 of these shares.
Jeffrey Shafer disclaims ownership of 1/2 of these shares.
Amster Trading Company owns 74,943 shares or 2.71% of the
outstanding shares.
<PAGE>
Amster Trading Company Charitable Remainder Unitrusts owns 8,627
shares or .31% of the outstanding shares.
Howard M Amster Charitable Remainder Unitrust owns 4,600 shares or
.17% of the outstanding shares.
Howard Amster and Tamra F. Gould Charitable Remainder Unitrust owns
4,000 shares or .14% of the outstanding shares.
Pleasant Lakes Apts Corp owns 35 shares or .00% of the outstanding
shares.
Ramat Securities Ltd owns 29,009 shares or 1.04% of the outstanding
shares.
c)
<TABLE>
<CAPTION>
Name Date Shares Price Where and How Executed by
<S> <C> <C> <C> <C> <C>
Howard Amster 6/19/98 434 6.4375 Spinoff from Horizon Group
Howard Amster IRA 6/19/98 15323 6.4375 Spinoff from Horizon Group
7/1/98 13525 8.7187 Over the Counter/Open Mkt Everen Securities
7/6/98 7757 6.75 Over the Counter/Open Mkt Everen Securities
Gould Trading Co 6/19/98 2040 5.4375 Spinoff from the Horizon Group
H Amster/Jeff Shafer 6/19/98 62 6.4375 Spinoff from the Horizon Group
Amster Trading Co 6/19/98 299 6.4375 Distribution from Prime Series B Pr
6/19/98 4852 6.4375 Spinoff from Horizon Group
7/10/98 69792 6.1792 Over the Counter/Open Mkt Everen Securities
Amster Trading Co 6/19/98 6752 6.4375 Spinoff from Horizon Group
Charitable Remainder 7/1/98 1875 6.7167 Over the Counter/Open Mkt Everen Securities
Unitrusts
Howard M Amster 7/1/98 4600 6.7187 Over the Counter/Open Mkt Everen Securities
Charitable Remainder
Unitrust
H. Amster & T. Gould 6/19/98 1045 6.4375 Spinoff from Horizon Group
Charitable Remainder 6/30/98 712 6.625 Over the Counter/Open Mkt Everen Securities
Unitrust 7/6/98 2243 6.75 Over the Counter/Open Mkt Everen Securities
Pleasant Lake Apts 6/19/98 35 6.4375 Spinoff from Horizon Group
Corp
Ramat Securities Ltd 6/18/98 28 5.9375 Over the Counter/Open Mkt Instinet
6/19/98 3770 6.4375 Spinoff from Horizon Group
7/10/98 25000 6.1792 Over the Counter/Open Mkt Everen Securities
7/13/98 211 6 Over the Counter/Open Mkt Instinet
</TABLE>
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
There are no contracts, arrangements, understandings or
relationships with respect to securities of the issuer with any
persons except as set forth in items 2, 3, 5 above.
Item 7. Material to be Filed as Exhibits.
Agreement between Howard Amster and Tamra F. Gould concerning this
Schedule 13D.
Signature
After reasonable inquiry and to the best of my knowledge and belief,
we certify that the information set forth in this statement is true,
complete and correct.
Date: 7/20/98
/s/ /s/
Howard Amster Howard M. Amster Charitable
Remainder Unitrust
<PAGE>
/s/ /s/
Amster Trading Company Howard Amster & Tamra F.
Gould Charitable Remainder
Unitrust
/s/ /s/
Tamra F. Gould Pleasant Lake Apts Corp
/s/ /s/
Gould Trading Company Ramat Securities Ltd
/s/ /s/
Amster Trading Company Jeffrey Shafer
Charitable Remainder
Unitrusts
- ------------------------------------------------------------------------------
AGREEMENT
Howard Amster and Tamra F. Gould hereby agree that the Schedule 13D to which
this Agreement is attached as an exhibit is filed on behalf of each
of them.
Date /s/
-----------------------------
Howard Amster
/s/
-----------------------------
Tamra F. Gould
