<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. ____)*
Glenborough Realty Trust Incorporated
- - -------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.001 per share
- - -------------------------------------------------------------------------------
(Title of Class of Securities)
37803P105
- - -------------------------------------------------------------------------------
(CUSIP Number)
Joseph G. Beard
3300 Commerce
Dallas, Texas 75226
(214) 515-7000
- - -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 11, 2000
- - -------------------------------------------------------------------------------
(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 '' 240.13d-1(e), 240.13d(f), or 240.13d(g), check the
following box G. [ ]
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 240.13d-7 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 1
<PAGE>
SCHEDULE 13D
CUSIP NO. 37803P105 Page 2
-----------------
- - ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Westdale Properties America I, Ltd.
- - ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- - ------------------------------------------------------------------------------
SEC USE ONLY
3
- - ------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
WC
- - ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(a) [_]
5
- - ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Texas
- - ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
None
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 1,899,700
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
None
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,899,700
- - ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,899,700
- - ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) [ ]
- - ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
6.2%
- - ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
PN
- - -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 37803P105 Page 3
-----------------
- - ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JGB Ventures I, Ltd.
- - ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [_]
(b) [x]
- - ------------------------------------------------------------------------------
SEC USE ONLY
3
- - ------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
N/A
- - ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(a) [_]
5
- - ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Texas
- - ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
None
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 1,899,700
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
None
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,899,700
- - ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,899,700
- - ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) [ ]
- - ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
6.2%
- - ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
PN
- - --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 37803P105 Page 4
-----------------
- - ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JGB Holdings, Inc.
- - ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- - ------------------------------------------------------------------------------
SEC USE ONLY
3
- - ------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
N/A
- - ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(a) [_]
5
- - ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Texas
- - ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
None
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 1,899,700
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
None
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,899,700
- - ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,899,700
- - ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) [ ]
- - ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
6.2%
- - ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
CO
- - -----------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 37803P105 Page 5
-----------------
- - ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Joseph G. Beard
- - ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- - ------------------------------------------------------------------------------
SEC USE ONLY
3
- - ------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
PF/OO for shares listed in Items 7 & 9 below; not applicable for shares
listed in Items 8 & 10 below
- - ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(a) [_]
5
- - ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
USA
- - ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
111,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 1,899,700
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
111,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,899,700
- - ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,010,700
- - ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) [ ]
- - ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
6.6%
- - ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
IN
- - --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP NO. 37803P105 Page 6
-----------------
- - ------------------------------------------------------------------------------
NAMES OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ronald Kimel
- - ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [x]
- - ------------------------------------------------------------------------------
SEC USE ONLY
3
- - ------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
PF/OO for shares listed in Items 7 & 9 below; not applicable for shares
listed in Items 8 & 10 below
- - ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(a) [_]
5
- - ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Canadian
- - ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
3,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 1,899,700
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
3,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,899,700
- - ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,902,700
- - ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) [ ]
- - ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
6.2%
- - ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
IN
- - ------------------------------------------------------------------------------
<PAGE>
CUSIP NO. 37803P105 SCHEDULE 13D Page 7
Item 1. Security and Issuer.
- - ------ --------------------
The title and class of equity securities to which this Statement relates is
the common stock, $0.001 par value per share, (the "Stock") of Glenborough
Realty Trust Incorporated, a Maryland corporation ("Glenborough"). The address
of the principal executive offices of Glenborough is 400 South El Camino Real,
Suite 1100, San Mateo, California 94402-1708.
Item 2: Identity and Background.
- - ------ ------------------------
Pursuant to Rule 13d-1(a) of Regulation 13D-G of the General Rules and
Regulations under the Securities Exchange Act of 1934, as amended (the "Act"),
this Schedule 13D Statement is hereby filed by the following persons
(collectively, the "Reporting Persons"): Westdale Properties America I, Ltd., a
Texas limited partnership ("WPA I Ltd."); JGB Ventures I, Ltd., a Texas limited
partnership and sole general partner of WPA I Ltd. ("JGB I Ltd."); JGB Holdings,
Inc., a Texas corporation and sole general shareholder of JGB Holding ("Beard");
and Ronald Kimel, a Canadian citizen and sole Trustee of the Manuel Kimel Family
Trust ("Kimel").
WPA I Ltd. is a Texas limited partnership, the principal business of which
is to own, operate, develop, construct, acquire, and consult in respect of real
estate in the United States. The principal business address of WPA I Ltd.,
which also serves as its principal office, is 3300 Commerce, Dallas, Texas
75226.
JGB I Ltd. is a Texas limited partnership, the principal business of which
is serving as the general partner of WPA I Ltd., serving as the general partner
of Westdale Asset Management, Ltd., a Texas limited partnership, and activities
related thereto. The principal business address of JGB I Ltd., which also
serves as its principal office, is 3300 Commerce, Dallas, Texas 75226.
JGB Holdings is a Texas corporation, the principal business of which is
serving as the general partner of JGB I Ltd. and activities related thereto.
The principal business address of JGB Holdings, which also serves as its
principal office, is 3300 Commerce, Dallas, Texas 75226. Beard is sole director
and President, Vice President and Treasurer of JGB Holdings. It has no other
executive officers.
Beard's principal occupation or employment is serving as the President of
JGB Holdings, the general partner of JGB I Ltd. The principal business address
of Beard, which also serves as his principal office, is 3300 Commerce, Dallas,
Texas 75226.
<PAGE>
CUSIP NO. 37803P105 SCHEDULE 13D Page 8
The principal business of Kimel is investments. Kimel also serves as the
sole Trustee of the Manuel Kimel Family Trust, which through subsidiary
ownership is a limited partner in WPA I Ltd. The principal business address of
Kimel, which also serves as his principal office, is 444 Adelaide Street West,
Toronto, Ontario M5V 1S7.
The Reporting Persons may be deemed to comprise a "group" within the
meaning of Section 13(d)(3) of the Act, although neither the fact of this filing
nor any of the information contained herein shall be deemed to be an admission
by any of the Reporting Persons that a "group"@ exists.
During the last five years, none of the Reporting Persons (i) has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or (ii) was a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
- - ------- -------------------------------------------------
The source and amount of funds used by WPA I Ltd. to purchase its Stock is
Working Capital of WPA I Ltd. As used herein, the term "Working Capital"
includes income from the business operations of the entity plus sums borrowed
from, among other sources, banks and brokerage firm margin accounts, to operate
such business in general. Beard used personal funds and sums borrowed from
brokerage firm margin accounts to purchase his shares of Stock. Kimel used
personal funds and sums borrowed from brokerage firm margin accounts to purchase
his shares of Stock.
Item 4. Purpose of Transaction.
- - ------ ----------------------
Pursuant to a series of transactions ending on April 20, 2000, WPA I Ltd.
has purchased for an aggregate of $27,458,325.75 in cash an aggregate of
1,899,700 shares of Stock. The shares of Stock were acquired by WPA I Ltd. for
the purpose of investment.
Pursuant to a series of transactions ending on April 20, 2000, Beard,
individually, purchased for an aggregate of $1,627,313.00 in cash an aggregate
of 111,000 shares of Stock. The shares of Stock purchased by Beard individually
were acquired for the purpose of investment.
Pursuant to a transaction on April 11, 2000, Kimel, individually, purchased
for an aggregate of $44,250.00 in cash an aggregate of 3,000 shares of Stock.
The shares of Stock purchased by Kimel individually were acquired for the
purpose of investment.
Subject to the foregoing, the Reporting Persons intend to continue to
evaluate the Issuer's business, prospects and financial condition, the market
for the Stock, monetary and stock market conditions and other further
developments. As a part of such evaluation, one or more of the Reporting
Persons may participate in meetings or hold discussions with the Issuer's
management, other security holders of the Issuer and other persons in which the
Reporting Persons may express their views with respect to potential changes in
the operations, assets, capital structure or ownership of the Issuer. Such
expression of views may relate to one or more of the transactions specified in
clauses (a) through (j) of Item 4 of the Schedule 13D form.
Depending upon, among other things, the factors set forth above, the
Reporting Persons reserve the right to (i) dispose of all or part of their
investment in the Stock at any time, (ii) acquire additional
<PAGE>
CUSIP NO. 37803P105 SCHEDULE 13D Page 9
equity securities of the Issuer or its affiliates by tender offer, in the open
market, in private transactions or otherwise, (iii) propose a merger or other
business combination with the Issuer or its affiliates, (iv) seek control of the
Issuer by stock ownership or otherwise, or (v) take any other action with
respect to the Issuer.
Except as set forth in this Item 4, the Reporting Persons have no present
plans or proposals that relate to or that would result in any of the following
actions:
(a) The acquisition by any person of additional securities of the
Issuer, or the disposition of securities of the Issuer;
(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 or term
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 to 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.
- - ------ ------------------------------------
Pursuant to Rule 13-3(a), at the close of business on April 20, 2000, WPA I
Ltd. may be deemed to be the beneficial owner of 1,899,700 shares of the Stock,
which constitutes approximately 6.2% of the 30,511,503 shares of the Stock
outstanding on February 29, 2000, according to the Issuer's Definitive Proxy
Statement filed on April 6, 2000 (the "Outstanding Shares"). Each of the
Reporting Persons, either directly or indirectly, has or shares the power to
vote or to direct the vote and to dispose or to direct the disposition of, such
shares of Stock.
Each of JGB I Ltd., as the sole general partner of WPA I Ltd., and JGB
Holdings, as the sole general partner of JGB I Ltd., pursuant to Rule 13d-3 of
the Act, may be deemed to be the beneficial owner of 1,899,700 shares of the
Stock, which constitutes approximately 6.2% of the Outstanding Shares. Each of
such persons, either directly or indirectly, may have or share the power to vote
or to direct the vote and to dispose of or to direct the disposition of, such
shares of Stock.
Beard, individually and as sole shareholder of JGB Holdings, pursuant to
Rule 13d-3 of the Act, may be deemed to be the beneficial owner of 2,010,700
shares of the Stock, which constitutes approximately 6.6% of the Outstanding
Shares and consists of (i) the 1,899,700 shares described in the
<PAGE>
CUSIP NO. 37803P105 SCHEDULE 13D Page 10
preceding paragraphs and (ii) 111,000 additional shares of Stock beneficially
owned by Beard separately. Beard, either directly or indirectly, may have or
share the power to vote or direct the vote and to dispose of or to direct the
disposition of, such shares of Stock.
Kimel, individually and as sole Trustee of the Manuel Kimel Family Trust,
pursuant to Rule 13d-3 of the Act, may be deemed to be the beneficial owner of
1,902,700 shares of the Stock, which constitutes approximately 6.2% of the
Outstanding Shares and consists of (i) the 1,899,700 shares described in the
first two paragraphs of this Item and (ii) 3,000 additional shares of Stock
beneficially owned by Kimel separately. Kimel, either directly or indirectly,
may have or share the power to vote or direct the vote and to dispose of or to
direct the disposition of, such shares of Stock.
Other than as set forth above, none of the Reporting Persons named herein
is the beneficial owner of any shares of the Stock.
During the last 60 days, WPA I Ltd. has purchased shares of the Stock in
open market transactions on the New York Stock Exchange as follows:
<TABLE>
<CAPTION>
Date Purchaser Shares Price ($)
- - ----------------------- ----------------------- ----------------------- -----------------------
- - --------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
2/24/00 WPA I Ltd. 4,200 14.4375
- - --------------------------------------------------------------------------------------------------
2/28/00 WPA I Ltd. 8,000 14.625
- - --------------------------------------------------------------------------------------------------
3/2/00 WPA I Ltd. 25,000 14.71875
- - --------------------------------------------------------------------------------------------------
3/3/00 WPA I Ltd. 157,000 14.875
- - --------------------------------------------------------------------------------------------------
3/6/00 WPA I Ltd. 75,000 14.6875
- - --------------------------------------------------------------------------------------------------
3/6/00 WPA I Ltd. 50,000 14.625
- - --------------------------------------------------------------------------------------------------
3/7/00 WPA I Ltd. 20,000 14.4375
- - --------------------------------------------------------------------------------------------------
3/7/00 WPA I Ltd. 15,000 14.3125
- - --------------------------------------------------------------------------------------------------
3/8/00 WPA I Ltd. 65,000 14.50
- - --------------------------------------------------------------------------------------------------
3/8/00 WPA I Ltd. 28,000 14.375
- - --------------------------------------------------------------------------------------------------
3/9/00 WPA I Ltd. 100,000 14.625
- - --------------------------------------------------------------------------------------------------
3/10/00 WPA I Ltd. 60,000 14.50
- - --------------------------------------------------------------------------------------------------
3/10/00 WPA I Ltd. 3,000 14.4375
- - --------------------------------------------------------------------------------------------------
3/13/00 WPA I Ltd. 20,000 14.25
- - --------------------------------------------------------------------------------------------------
3/13/00 WPA I Ltd. 17,000 14.375
- - --------------------------------------------------------------------------------------------------
3/14/00 WPA I Ltd. 25,000 14.375
- - --------------------------------------------------------------------------------------------------
3/15/00 WPA I Ltd. 60,000 14.25
- - --------------------------------------------------------------------------------------------------
3/15/00 WPA I Ltd. 20,000 14.375
- - --------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CUSIP NO. 37803P105 SCHEDULE 13D Page 11
<TABLE>
<CAPTION>
Date Purchaser Shares Price ($)
- - ----------------------- ----------------------- ----------------------- ------------------------
- - --------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
3/17/00 WPA I Ltd. 25,000 14.20
- - --------------------------------------------------------------------------------------------------
3/20/00 WPA I Ltd. 10,000 14.625
- - --------------------------------------------------------------------------------------------------
3/29/00 WPA I Ltd. 2,000 14.875
- - --------------------------------------------------------------------------------------------------
3/30/00 WPA I Ltd. 20,000 14.875
- - --------------------------------------------------------------------------------------------------
3/30/00 WPA I Ltd. 1,500 14.75
- - --------------------------------------------------------------------------------------------------
3/31/00 WPA I Ltd. 71,000 14.50
- - --------------------------------------------------------------------------------------------------
3/31/00 WPA I Ltd. 10,000 14.6875
- - --------------------------------------------------------------------------------------------------
3/31/00 WPA I Ltd. 10,000 14.625
- - --------------------------------------------------------------------------------------------------
4/3/00 WPA I Ltd. 12,100 14.50
- - --------------------------------------------------------------------------------------------------
4/4/00 WPA I Ltd. 20,000 14.50
- - --------------------------------------------------------------------------------------------------
4/4/00 WPA I Ltd. 3,500 14.4375
- - --------------------------------------------------------------------------------------------------
4/6/00 WPA I Ltd. 10,000 14.75
- - --------------------------------------------------------------------------------------------------
4/10/00 WPA I Ltd. 30,000 14.75
- - --------------------------------------------------------------------------------------------------
4/10/00 WPA I Ltd. 12,000 14.6875
- - --------------------------------------------------------------------------------------------------
4/11/00 WPA I Ltd. 57,000 14.75
- - --------------------------------------------------------------------------------------------------
4/11/00 WPA I Ltd. 25,000 14.625
- - --------------------------------------------------------------------------------------------------
4/12/00 WPA I Ltd. 65,000 14.8125
- - --------------------------------------------------------------------------------------------------
4/13/00 WPA I Ltd. 38,000 14.8125
- - --------------------------------------------------------------------------------------------------
4/14/00 WPA I Ltd. 21,500 14.75
- - --------------------------------------------------------------------------------------------------
4/18/00 WPA I Ltd. 118,500 14.875
- - --------------------------------------------------------------------------------------------------
4/18/00 WPA I Ltd. 6,500 14.8125
- - --------------------------------------------------------------------------------------------------
4/19/00 WPA I Ltd. 50,000 14.9375
- - --------------------------------------------------------------------------------------------------
4/20/00 WPA I Ltd. 130,000 15
- - --------------------------------------------------------------------------------------------------
4/20/00 WPA I Ltd. 13,000 14.875
- - --------------------------------------------------------------------------------------------------
4/20/00 WPA I Ltd. 1,000 14.9375
- - --------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CUSIP NO. 37803P105 SCHEDULE 13D Page 12
During the last 60 days, Beard, individually, has purchased shares of the
Stock in open market transactions on the New York Stock Exchange as follows:
<TABLE>
<CAPTION>
Date Purchaser Shares Price ($)
- - ----------------------- ----------------------- ----------------------- ------------------------
- - --------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
3/15/00 Beard 5,000 $ 14.1875
- - --------------------------------------------------------------------------------------------------
3/16/00 Beard 10,000 $ 14.625
- - --------------------------------------------------------------------------------------------------
3/16/00 Beard 1,000 $ 14.5625
- - --------------------------------------------------------------------------------------------------
3/17/00 Beard 20,000 $ 14.4375
- - --------------------------------------------------------------------------------------------------
3/20/00 Beard 20,000 $ 14.20
- - --------------------------------------------------------------------------------------------------
3/30/00 Beard 15,000 $ 14.875
- - --------------------------------------------------------------------------------------------------
3/31/00 Beard 10,000 $ 14.50
- - --------------------------------------------------------------------------------------------------
4/6/00 Beard 5,000 $14.7142857
- - --------------------------------------------------------------------------------------------------
4/6/00 Beard 5,000 $ 14.75
- - --------------------------------------------------------------------------------------------------
4/11/00 Beard 10,000 $ 14.625
- - --------------------------------------------------------------------------------------------------
4/20/00 Beard 10,000 $ 15.00
- - --------------------------------------------------------------------------------------------------
</TABLE>
During the last 60 days, Kimel, individually, has purchased shares of the
Stock in open market transactions on the New York Stock Exchange as follows:
<TABLE>
<CAPTION>
Date Purchaser Shares Price ($)
- - ----------------------- ----------------------- ----------------------- -----------------------
- - --------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
3/15/00 Kimel 3,000 $14.75
- - --------------------------------------------------------------------------------------------------
</TABLE>
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
- - ------ ---------------------------------------------------------------------
to Securities of the Issuer.
- - ---------------------------
By virtue of constituent arrangements of the Reporting Persons, Beard and
Kimel may be deemed to act jointly and thus deemed to share the power to vote,
acquire and dispose of Stock. To the best knowledge of the Reporting Persons,
there are no other contracts, arrangements, understandings or relationships
(legal or otherwise) among the Reporting Persons or between the Reporting
Persons and any other person with respect to any securities of the Issuer,
including but not limited to, transfer or voting of any of the securities of the
Issuer, finder=s fees, joint ventures, loan or option arrangements, puts or
calls, guarantees of profits, division of profits or loss, or the giving or
<PAGE>
CUSIP NO. 37803P105 SCHEDULE 13D Page 13
withholding of proxies, or a pledge or contingency the occurrence of which would
give another person voting power over the securities of the Issuer.
Item 7. Material to be Filed as Exhibits.
- - ------ --------------------------------
Not applicable.
<PAGE>
CUSIP NO. 37803P105 SCHEDULE 13D
SIGNATURE
After reasonable inquiry and to the best of the knowledge and belief of the
undersigned, the undersigned certify that the information set forth in this
statement is true, complete and correct.
Pursuant to Rule 13d-1(k)(I)(ii) of Regulation 13D-G of the General Rules
and Regulations of the Securities and Exchange Commission under the Securities
Exchange Act of 1934, as amended, the undersigned agree that the attached
statement is filed on behalf of each of them in the capacities set forth below.
Each of the undersigned Reporting Persons hereby constitutes and appoints
Joseph G. Beard and Ronald Kimel, and each of them (with full power in each to
act alone), as attorneys and agents of the undersigned, to sign and file with
the Securities and Exchange Commission under Regulation 13 D-G under the
Securities Exchange Act of 1934, as amended, any and all amendments and exhibits
to this Schedule 13D, with full power and authority to do and perform any and
all acts and things whatsoever requisite or desirable in their or his sole
discretion.
Dated: May 21, 2000
WESTDALE PROPERTIES AMERICA I, LTD., a Texas limited partnership
By: JGB Ventures I, Ltd., a Texas limited partnership
Its: General Partner
By: JGB Holdings, Inc., a Texas corporation
Its: General Partner
By: /s/ Joseph G. Beard
_________________________________________________________
Joseph G. Beard, President
JGB VENTURES I, LTD., a Texas limited partnership
By: JGB Holdings, Inc., a Texas corporation
Its: General Partner
By: /s/ Joseph G. Beard
____________________________________________________________
Joseph G. Beard, President
JGB HOLDINGS, INC., a Texas corporation
By: /s/ Joseph G. Beard
______________________________________________________________
Joseph G. Beard, President
/s/ Joseph G. Beard
_________________________________________________________________
Joseph G. Beard
/s/ Ronald Kimel
_________________________________________________________________
Ronald Kimel
