SC 13G/A: Schedule filed to report acquisition of beneficial ownership of 5% or more of a class of equity securities by passive investors and certain institutions
Published on February 14, 1997
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
(Rule 13d-102)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1 )*
Bay Apartment Communities, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
072012107
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(CUSIP Number)
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* 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).
SCHEDULE 13G
CUSIP No. 072012107
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
LaSalle Advisors Limited Partnership
36-3637257
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2 Check the Appropriate Box If a Member of a Group* a. |X|
b. |_|
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3 SEC Use Only
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4 Citizenship or Place of Organization
Delaware
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5 Sole Voting Power
Number of
Shares 134,000
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 162,600
Person --------------------------------------------------------
With 7 Sole Dispositive Power
134,000
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8 Shared Dispositive Power
432,950
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
566,950
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10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |X|
Excludes shares beneficially owned by ABKB/LaSalle Securities Limited
Partnership, see page 3.
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11 Percent of Class Represented By Amount in Row (9)
2.98%
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12 Type of Reporting Person*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
SCHEDULE 13G
CUSIP No. 072012107
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
ABKB/LaSalle Securities Limited Partnership
36-3991973
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2 Check the Appropriate Box If a Member of a Group* a. |X|
b. |_|
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3 SEC Use Only
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4 Citizenship or Place of Organization
Maryland
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5 Sole Voting Power
Number of
Shares 148,200
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 456,380
Person --------------------------------------------------------
With 7 Sole Dispositive Power
148,200
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8 Shared Dispositive Power
566,050
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
714,250
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10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |X|
Excludes shares beneficially owned by LaSalle Advisors Limited
Partnership, see page 2.
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11 Percent of Class Represented By Amount in Row (9)
3.76%
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12 Type of Reporting Person*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
SCHEDULE 13G
CUSIP No. 072012107
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
William K. Morrill, Jr.
###-##-####
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2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
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3 SEC Use Only
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4 Citizenship or Place of Organization
United States
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5 Sole Voting Power
Number of
Shares 282,200 (1,2)
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 618,980 (1,2)
Person --------------------------------------------------------
With 7 Sole Dispositive Power
282,200 (1,2)
--------------------------------------------------------
8 Shared Dispositive Power
999,000 (1,2)
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
1,281,200 (1,2)
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10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|
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11 Percent of Class Represented By Amount in Row (9)
6.75% (1,2)
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12 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
SCHEDULE 13G
CUSIP No. 072012107
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Keith R. Pauley
###-##-####
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2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
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3 SEC Use Only
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4 Citizenship or Place of Organization
United States
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5 Sole Voting Power
Number of
Shares 282,000 (1,2)
Beneficially --------------------------------------------------------
Owned By 6 Shared Voting Power
Each
Reporting 618,980 (1,2)
Person --------------------------------------------------------
With 7 Sole Dispositive Power
282,200 (1,2)
--------------------------------------------------------
8 Shared Dispositive Power
999,000 (1,2)
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
1,281,200 (1,2)
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10 Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|
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11 Percent of Class Represented By Amount in Row (9)
6.75% (1,2)%
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12 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Item 1.
(a) Name of Issuer: Bay Apartment Communities, Inc.
(b) Address of Issuer's Principal Executive Offices
4340 Stevens Creek Boulevard, Suite 275, San Jose, California 95129
Item 2.
LaSalle Advisors Limited Partnership provides the following information:
(a) Name of Person Filing: LaSalle Advisors Limited Partnership
(b) Address of Principal Business Office or, if none, Residence
11 South LaSalle Street, Chicago, Illinois 60603
(c) Citizenship: Delaware
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 072012107
ABKB/LaSalle Securities Limited Partnership provides the following information:
(a) Name of Person Filing: ABKB/LaSalle Securities Limited Partnership
(b) Address of Principal Business Office or, if none, Residence
11 South LaSalle Street, Chicago, Illinois 60603
(c) Citizenship: Maryland
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 072012107
William K. Morrill, Jr. is filing as an employee of both LaSalle Advisors
Limited Partnership and ABKB/LaSalle Securities Limited Partnership and provides
the following information solely because of those relationships:
(a) Name of Person Filing: William K. Morrill, Jr.
(b) Address of Principal Business Office or, if none, Residence
11 S. LaSalle Street, Chicago, Illinois 60603
(c) Citizenship: United States
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 072012107
Keith R. Pauley is filing as an employee of both LaSalle Advisors
Limited Partnership and ABKB/LaSalle Securities Limited Partnership and provides
the following information solely because of those relationships:
(a) Name of Person Filing: Keith R. Pauley
(b) Address of Principal Business Office or, if none, Residence
11 S. LaSalle Street, Chicago, Illinois 60603
(c) Citizenship: United States
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 072012107
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check
whether the person filing is a:
(a) |_| Broker or Dealer registered under Section 15 of the Act
(b) |_| Bank as defined in Section 3(a)(6) of the Act
(c) |_| Insurance Company as defined in Section 3(a)(19) of the Act
(d) |_| Investment Company registered under Section 8 of the
Investment Company Act
(e) |X|(3) Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940
(f) |_| Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income Security
Act of 1974 or Endowment Fund;
see ss.240.13d-1(b)(1)(ii)(F)
(g) |_| Parent Holding Company, in accordance with
ss.240.13d-1(b)(ii)(G) (Note: See Item 7)
(h) |_| Group, in accordance with ss.240.13d-1(b)(1)(ii)(H)
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(3) This response is provided on behalf of LaSalle Advisors Limited Partnership
and ABKB/LaSalle Securities Limited Partnership, each an investment adviser
registered under Section 203 of the Investment Advisers Act of 1940, and two of
their employees, William K. Morrill, Jr. and Keith R. Pauley.
Item 4. Ownership
If the percent of the class owned, as of December 31 of the year covered by
the statement, or as of the last day of any month described in Rule 13d-1(b)(2),
if applicable, exceeds five percent, provide the following information as of
that date and identify those shares which there is a right to acquire.
LaSalle Advisors Limited Partnership provides the following information:
(a) Amount Beneficially Owned: 566,950
(b) Percent of Class: 2.98%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 134,000
(ii) shared power to vote or to direct the vote: 162,600
(iii) sole power to dispose or to direct the disposition of: 134,000
(iv) shared power to dispose or to direct the disposition of: 432,950
ABKB/LaSalle Securities Limited Partnership provides the following
information:
(a) Amount Beneficially Owned: 714,250
(b) Percent of Class: 3.76%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 148,200
(ii) shared power to vote or to direct the vote: 456,380
(iii) sole power to dispose or to direct the disposition of: 148,200
(iv) shared power to dispose or to direct the disposition of: 566,050
William K. Morrill, Jr. is filing as an employee of both LaSalle Advisors
Limited Partnership and ABKB/LaSalle Securities Limited Partnership and provides
the following information solely because of those relationships:
(a) Amount Beneficially Owned: 282,200(1,2)
(b) Percent of Class: 6.75%(1,2)
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 282,200(1,2)
(ii) shared power to vote or to direct the vote: 618,980(1,2)
(iii) sole power to dispose or to direct
the disposition of: 282,200(1,2)
(iv) shared power to dispose or to direct
the disposition of: 999,000(1,2)
Keith R. Pauley is filing as an employee of both LaSalle Advisors Limited
Partnership and ABKB/LaSalle Securities Limited Partnership and provides the
following information solely because of those relationships:
(a) Amount Beneficially Owned: 282,200(1,2)
(b) Percent of Class: 6.75%(1,2)
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 282,200(1,2)
(ii) shared power to vote or to direct the vote: 618,980(1,2)
(iii) sole power to dispose or to direct
the disposition of: 282,200(1,2)
(iv) shared power to dispose or to direct
the disposition of: 999,000(1,2)
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(1) The reporting person disclaims beneficial ownership of these
securities, and this report shall not be deemed an admission that the reporting
person is the beneficial owner of such securities for any purpose.
(2) These shares represent the same shares previously listed by LaSalle
Advisors Limited Partnership and ABKB/LaSalle Securities Limited Partnership and
are not cumulative.
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following |_|.
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
The two members of the Group are: LaSalle Advisors Limited Partnership
("LaSalle") and ABKB/LaSalle Securities Limited Partnership ("ABKB/LaSalle").
ABKB/LaSalle is a Maryland limited partnership, the limited partner of
which is LaSalle and the general partner of which is ABKB/LaSalle Securities,
Inc., a Maryland corporation, the sole stockholder of which is LaSalle. LaSalle
and ABKB/LaSalle, each registered investment advisers, have different advisory
clients. Messrs. William K. Morrill, Jr. and Keith R. Pauley are responsible for
the securities investment decisions made by LaSalle and ABKB/LaSalle on behalf
of their clients.
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 acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
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.
The parties agree that this statement is filed on behalf of each of them.
Dated: February 11, 1997
LASALLE ADVISORS LIMITED PARTNERSHIP
By: /s/ William K. Morrill, Jr.
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Name: William K. Morrill, Jr.
Title: Managing Director
ABKB/LASALLE SECURITIES LIMITED PARTNERSHIP
By: /s/ William K. Morrill, Jr.
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Name: William K. Morrill, Jr.
Title: Managing Director
/s/ Keith R. Pauley
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Keith R. Pauley
/s/ William K. Morrill, Jr.
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William K. Morrill, Jr.