UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)
MALAN REALTY INVESTORS, INC.
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
561063-10-8
(CUSIP Number)
Paul R. Rentenbach
Dykema Gossett PLLC
400 Renaissance Center
Detroit, Michigan 48243-1668
(313) 568-6973
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
October 30, 1996
(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 [ ].
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.
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CUSIP No. 561063-10-8
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person (optional)
Peter T. Kross
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
U.S.A.
7 Sole Voting Power
Number of 220,000 shares
Shares
Beneficially 8 Shared Voting Power
Owned By 0
Each
Reporting 9 Sole Dispositive Power
Person 220,000 shares
With
10 Shared Dispositive Power
0
11 Aggregate Amount of Beneficially Owned by Each Reporting Person
220,000 shares
12 Check Box If The Aggregate Amount In Row (11) Excludes
Certain Shares* [ ]
13 Percent of Class Represented By Amount In Row (11)
6.4%
14 Type Of Reporting Person*
IN
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<PAGE>
This is Amendment No. 2 to the Schedule 13D filed by Peter T. Kross
relating to the common stock, par value $.01 per share (the "Common Stock"),
of Malan Realty Investors, Inc. (the "Issuer"). Items 3 and 5 are hereby
amended.
Item 3. Source and Amount of Funds or Other Consideration.
The amount of funds expended to date by Mr. Kross to acquire the shares
as reported herein is $3,032,723. Such funds were provided in part from Mr.
Kross's personal funds and in part by loans from Everen Securities, Inc. Mr.
Kross has a margin account with Everen Securities, Inc., ("Everen"), and has
used the proceeds from loans made by Everen to purchase a portion of the shares
of Common Stock of the Issuer that he presently owns. All of the marginable
securities owned by Mr. Kross and held in his brokerage account at Everen are
pledged as collateral for the repayment of margin loans made to Mr. Kross by
Everen. A copy of Mr. Kross's margin account agreement with Everen was filed
as Exhibit A to Amendment No. 1 to this Schedule 13D.
Item 5. Interest in Securities of the Issuer.
(a) Mr. Kross beneficially owns all of the 220,000 shares of
Common Stock reported herein, which constitutes 6.4% of the issued and
outstanding shares of the Issuer's Common Stock, based on the Issuer's most
recent Quarterly Report on Form 10-Q.
(b) Mr. Kross has the sole right to vote and dispose of all of the
shares described in (a) above.
(c) The only transactions in the Common Stock by Mr. Kross during
the past 60 days are as follows:
Per Share
Date No. of Shares Purchase Price Total Price
September 11, 1996 5,000 14.25 $ 71,250
September 12, 1996 5,000 14.25 71,250
October 10, 1996 10,000 14.125 141,250
October 14, 1996 2,000 14.00 28,000
October 30, 1996 6,000 14.125 84,750
(d) Not applicable.
(e) Not applicable.
<PAGE>
<PAGE>
SIGNATURES
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.
Date: November 1, 1996
/S/ PETER T. KROSS
Peter T. Kross
