-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, P7zTciblR19vMk2eg7p4MksUGnhW1AFEOc7JUd7L7NrhkwyK83Dzb5JbsK91hNOG KGqtYUlKJmtQnBr+wNgKDQ== 0000950131-99-005972.txt : 19991102 0000950131-99-005972.hdr.sgml : 19991102 ACCESSION NUMBER: 0000950131-99-005972 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19991101 GROUP MEMBERS: DNMC PUBLIC HOLDINGS LLC GROUP MEMBERS: WALTON STREET MANAGERS II, L.P. GROUP MEMBERS: WALTON STREET REAL ESTATE FUND II, L.P. GROUP MEMBERS: WSC MANAGERS II, INC. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN RETIREMENT CORP CENTRAL INDEX KEY: 0000787784 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-SKILLED NURSING CARE FACILITIES [8051] IRS NUMBER: 621674303 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-53347 FILM NUMBER: 99738832 BUSINESS ADDRESS: STREET 1: 111 WESTWOOD PLACE STREET 2: SUITE 402 CITY: BRENTWOOD STATE: TN ZIP: 37027 BUSINESS PHONE: 6152212250 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DNMC PUBLIC HOLDINGS LLC CENTRAL INDEX KEY: 0001097881 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: WALTON STREET CAPITAL LLC STREET 2: 900 N MICHIGAN AVENUE CITY: CHICAGO STATE: IL ZIP: 60611 BUSINESS PHONE: 3129152882 SC 13D 1 SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13D Under the Securities Exchange Act of 1934 (Amendment No. )* American Retirement Corporation - ------------------------------------------------------------------------------- (Name of Issuer) Common Stock - ------------------------------------------------------------------------------- (Title of Class of Securities) 028913-10-1 --------------------------------------- (CUSIP Number) Brian Newman Walton Street Capital, L.L.C. 900 N. Michigan Avenue Suite 1900 Chicago, Illinois 60611 (312) 915-2800 - ------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 20, 1999 --------------------------------------- (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 (S)(S)240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. /_/ Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See (S)240.13d-7(b) 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 of 16 - ----------------------- -------------------- CUSIP NO. 028913-10-1 13D PAGE 2 OF 16 PAGES - ----------------------- -------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 DNMC Public Holdings, L.L.C. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 36-4320464 - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 WC, BK - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 1,675,000 (See Item 5) OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 1,675,000 (See Item 5) - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 1,675,000 (See Item 5) - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 9.6% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 OO - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------- -------------------- CUSIP NO. 028913-10-1 13D PAGE 3 OF 16 PAGES - ----------------------- -------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 Walton Street Real Estate Fund II, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 36-4208917 - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 Not Applicable - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 1,675,000 (See Item 5) OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 1,675,000 (See Item 5) - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 1,675,000 (See Item 5) - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 9.6% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 PN - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------- -------------------- CUSIP NO. 028913-10-1 13D PAGE 4 OF 16 PAGES - ----------------------- -------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 Walton Street Managers II, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 36-4200292 - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 Not Applicable - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 1,675,000 (See Item 5) OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 1,675,000 (See Item 5) - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 1,675,000 (See Item 5) - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 9.6% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 PN - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------- -------------------- CUSIP NO. 028913-10-1 13D PAGE 5 OF 16 PAGES - ----------------------- -------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 WSC Managers II, Inc. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 36-4200554 - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 Not Applicable - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 1,675,000 (See Item 5) OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 1,675,000 (See Item 5) - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 1,675,000 (See Item 5) - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 9.6% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 CO - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! Item 1. Security and Issuer This Schedule 13D (this "Schedule 13D") is filed by and on behalf of DNMC Public Holdings, L.L.C., Walton Street Real Estate Fund II, L.P. (the sole member of DNMC Public Holdings, L.L.C.), Walton Street Managers II, L.P. (the sole general partner of Walton Street Real Estate Fund II, L.P.) and WSC Managers II, Inc. (the sole general partner of Walton Street Managers II, L.P.) (collectively, the "Reporting Persons"). This Schedule 13D relates to the common stock, par value $0.01 per share (the "Shares"), of American Retirement Corporation, a Tennessee corporation (the "Company"). The principal executive offices of the Company are located at 111 Westwood Place, Suite 402, Brentwood, Tennessee 37027. Item 2. Identity and Background DNMC Public Holdings, L.L.C. is a Delaware limited liability company with the principal business of investing in securities and is located at 900 North Michigan Avenue, Chicago, Illinois 60611. Walton Street Real Estate Fund II, L.P. is a Delaware limited partnership with the principal business of investing in real estate and securities and is located at 900 North Michigan Avenue, Chicago, Illinois 60611. Walton Street Real Estate Fund II, L.P. is also the sole member of DNMC Public Holdings, L.L.C. Walton Street Managers II, L.P. is a Delaware limited partnership with the principal business of investing in securities and is located at 900 North Michigan Avenue, Chicago, Illinois 60611. Walton Street Managers II, L.P. is also the sole general partner of Walton Street Real Estate Fund II, L.P. WSC Managers II, Inc. is a Delaware corporation with the principal business of investing in securities and is located at 900 North Michigan Avenue, Chicago, Illinois 60611. WSC Managers II, Inc. is also the sole general partner of Walton Street Managers II, L.P. Attached as Schedule A to this Schedule 13D is information concerning other persons and entities as to which such information is required to be disclosed in response to Item 2 and General Instruction C to Schedule 13D. The Reporting Persons may be deemed to constitute a "group" for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934. The Reporting Persons expressly disclaim that they have agreed to act as a group other than as described in this Schedule 13D. During the last five years, none of the Reporting Persons or their executive officers or directors has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). Page 6 of 16 During the last five years, none of the Reporting Persons or their executive officers or directors has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which was such person 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 DNMC Public Holdings, L.L.C. purchased an aggregate of 1,300,000 Shares for total consideration of $7,663,743.75 (excluding brokerage commissions) derived from the capital of DNMC Public Holdings, L.L.C. and margin indebtedness from Banc of America Securities LLC. DNMC Public Holdings, L.L.C. also purchased $9,000,000 aggregate principal amount of the Company's 5-3/4% Convertible Subordinated Debentures due 2002 (the "Debentures"), which are convertible into an aggregate of 375,000 Shares, for total consideration of $5,772,712.50 (including brokerage commissions) derived from the capital of DNMC Public Holdings, L.L.C. and margin indebtedness from Banc of America Securities LLC. Each $1,000 principal amount of the Debentures is convertible at the option of the holder into 41.6667 Shares. The Reporting Persons also maintain various credit facilities and arrangements, including customary margin arrangements, with banks and other financial institutions in the ordinary course of business and in connection therewith provide to the lenders as collateral thereunder the Shares and the Debentures purchased by them or other securities of the Company held by them. Item 4. Purpose of Transaction The Reporting Persons have acquired the Shares and the Debentures because, in their opinion, such securities are undervalued by the market at the present time under the present circumstances. The Reporting Persons will monitor developments at the Company, and may communicate with members of management of the Company, with the Board of Directors of the Company and with others concerning the Company. The Reporting Persons may from time to time (i) acquire additional Shares, Debentures and other derivative securities in the open market, in privately negotiated transactions or otherwise, or (ii) dispose of Shares, Debentures and other derivative securities in the open market, in privately negotiated transactions or otherwise. Item 5. Interest in Securities of the Issuer (a) As of the date of this Schedule 13D, the Reporting Persons beneficially owned in the aggregate 1,675,000 Shares, which includes 375,000 Shares issuable upon the conversion of the Debentures owned by DNMC Public Holdings, L.L.C. that are convertible within 60 days of November 1, 1999. Based upon (i) the 17,138,235 Shares outstanding on August 9, 1999 as set Page 7 of 16 forth in the Company's quarterly report on Form 10-Q for the quarterly period ending June 30, 1999 filed August 16, 1999 and (ii) the 375,000 Shares issuable upon conversion of the Debentures owned by DNMC Public Holdings, L.L.C. that are convertible within 60 days of November 1, 1999, these 1,675,000 Shares represent 9.6% of the outstanding Shares of the Company. The Reporting Persons may be deemed to have direct beneficial ownership of the Shares as follows: Directly Held Beneficial Ownership:
Shares Issuable Approximate upon Conversion Percentage of Shares Name Shares of Debentures Outstanding ---- -------------- ----------------- -------------------- DNMC Public Holdings, L.L.C. 1,300,000 375,000 9.6% Walton Street Real Estate Fund II, L.P. 0 0 0.0% Walton Street Managers II, L.P. 0 0 0.0% WSC Managers II, Inc. 0 0 0.0% Total 1,300,000 375,000 9.6%
Under Rule 13d-3 of the Securities Exchange Act of 1934 and based on the relationships described above under Item 2 of this Schedule 13D, Walton Street Real Estate Fund II, L.P., Walton Street Managers II, L.P. and WSC Managers II, Inc. may be deemed to beneficially own Company securities beneficially owned by DNMC Public Holdings, L.L.C. Each Reporting Person (other than DNMC Public Holdings, L.L.C.) expressly disclaims beneficial ownership of the Company securities directly owned by DNMC Public Holdings, L.L.C. (b) DNMC Public Holdings, L.L.C. has the sole power to vote, direct the vote, dispose or direct the disposition of Shares shown above as directly beneficially owned by DNMC Public Holdings, L.L.C. Under Rule 13d-3 of the Securities Exchange Act of 1934 and based on the relationships described above under Item 2 of this Schedule 13D, Walton Street Real Estate Fund II, L.P., Walton Street Managers II, L.P. and WSC Managers II, Inc. may be deemed to share with DNMC Public Holdings, L.L.C. the power to vote, direct the vote, dispose or direct the disposition of such Shares. (c) The Reporting Persons engaged in the following transactions in Shares of the Company during the last 60 days. All transactions were completed on the New York Stock Exchange. Page 8 of 16
Price/ Principal $1,000 Nature of Price/ Amount of Principal Direct Beneficial Owner Date Transaction Shares Share Debentures Amount ----------------------- ---- ----------- ------ ----- ---------- ------ DNMC Public Holdings, L.L.C. 10/7/99 Purchase 30,000 8.0000 -- -- DNMC Public Holdings, L.L.C. 10/7/99 Purchase 10,000 8.0000 -- -- DNMC Public Holdings, L.L.C. 10/7/99 Purchase 10,000 8.0000 -- -- DNMC Public Holdings, L.L.C. 10/7/99 Purchase 10,000 8.0000 -- -- DNMC Public Holdings, L.L.C. 10/8/99 Purchase 40,000 7.8750 -- -- DNMC Public Holdings, L.L.C. 10/8/99 Purchase 35,000 7.8750 -- -- DNMC Public Holdings, L.L.C. 10/8/99 Purchase 15,000 7.8750 -- -- DNMC Public Holdings, L.L.C. 10/8/99 Purchase 10,000 7.8750 -- -- DNMC Public Holdings, L.L.C. 10/8/99 Purchase 200 7.8125 -- -- DNMC Public Holdings, L.L.C. 10/8/99 Purchase 2,300 7.8750 -- -- DNMC Public Holdings, L.L.C. 10/8/99 Purchase -- -- 500,000 675.00 DNMC Public Holdings, L.L.C. 10/11/99 Purchase 1,000 7.7500 -- -- DNMC Public Holdings, L.L.C. 10/12/99 Purchase 10,000 7.7500 -- -- DNMC Public Holdings, L.L.C. 10/12/99 Purchase 10,000 7.7500 -- -- DNMC Public Holdings, L.L.C. 10/12/99 Purchase 5,000 7.7500 -- -- DNMC Public Holdings, L.L.C. 10/12/99 Purchase 10,000 7.6250 -- -- DNMC Public Holdings, L.L.C. 10/12/99 Purchase 15,000 7.6250 -- -- DNMC Public Holdings, L.L.C. 10/12/99 Purchase 500 7.5625 -- -- DNMC Public Holdings, L.L.C. 10/12/99 Purchase 5,600 7.5625 -- -- DNMC Public Holdings, L.L.C. 10/12/99 Purchase 3,900 7.5625 -- -- DNMC Public Holdings, L.L.C. 10/12/99 Purchase 11,000 7.5625 -- -- DNMC Public Holdings, L.L.C. 10/13/99 Purchase 5,300 7.5000 -- -- DNMC Public Holdings, L.L.C. 10/13/99 Purchase 700 7.4375 -- -- DNMC Public Holdings, L.L.C. 10/13/99 Purchase 5,000 7.4375 -- -- DNMC Public Holdings, L.L.C. 10/13/99 Purchase 200 7.3125 -- -- DNMC Public Holdings, L.L.C. 10/13/99 Purchase 4,800 7.3750 -- --
Page 9 of 16 DNMC Public Holdings, L.L.C. 10/13/99 Purchase -- -- 3,230,000 662.50 DNMC Public Holdings, L.L.C. 10/14/99 Purchase 5,000 6.9375 -- -- DNMC Public Holdings, L.L.C. 10/14/99 Purchase -- -- 750,000 652.50 DNMC Public Holdings, L.L.C. 10/15/99 Purchase 50,000 6.8750 -- -- DNMC Public Holdings, L.L.C. 10/15/99 Purchase 100,000 6.8750 -- -- DNMC Public Holdings, L.L.C. 10/15/99 Purchase 10,000 6.8750 -- -- DNMC Public Holdings, L.L.C. 10/15/99 Purchase -- -- 265,000 647.50 DNMC Public Holdings, L.L.C. 10/18/99 Purchase 4,000 6.2500 -- -- DNMC Public Holdings, L.L.C. 10/18/99 Purchase 300 6.2500 -- -- DNMC Public Holdings, L.L.C. 10/18/99 Purchase 3,900 6.3750 -- -- DNMC Public Holdings, L.L.C. 10/18/99 Purchase 1,200 6.3750 -- -- DNMC Public Holdings, L.L.C. 10/18/99 Purchase 145,700 6.5000 -- -- DNMC Public Holdings, L.L.C. 10/19/99 Purchase 10,000 4.9375 -- -- DNMC Public Holdings, L.L.C. 10/19/99 Purchase 15,000 4.9375 -- -- DNMC Public Holdings, L.L.C. 10/20/99 Purchase 50,000 5.0000 -- -- DNMC Public Holdings, L.L.C. 10/20/99 Purchase 257,200 5.0000 -- -- DNMC Public Holdings, L.L.C. 10/20/99 Purchase 140,000 5.0000 -- -- DNMC Public Holdings, L.L.C. 10/20/99 Purchase 152,800 5.0000 -- -- DNMC Public Holdings, L.L.C. 10/21/99 Purchase -- -- 2,000,000 612.50 DNMC Public Holdings, L.L.C. 10/26/99 Purchase 90,500 4.1250 -- -- DNMC Public Holdings, L.L.C. 10/26/99 Purchase 1,000 4.2500 -- -- DNMC Public Holdings, L.L.C. 10/28/99 Purchase 10,000 5.0000 -- -- DNMC Public Holdings, L.L.C. 11/01/99 Purchase -- -- 2,255,000 625.00 DNMC Public Holdings, L.L.C. 11/01/99 Purchase 2,900 5.0000 -- --
(d) Not Applicable. (e) Not Applicable. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer Except as disclosed under Items 2, 3 and 4 of this Schedule 13D, to the best knowledge of the Reporting Persons, there are no contracts, arrangements, understandings or relationships (legal or Page 10 of 16 otherwise) among the Reporting Persons or between the Reporting Persons and any other person with respect to any securities of the Company, including but not limited to transfer or voting of any Company securities, finder's fees, joint ventures, loan or option arrangements, put or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies. Item 7. Material to be Filed as Exhibits A. Joint Filing Agreement. Page 11 of 16 Signatures After reasonable inquiry and to the best of their knowledge and belief, the undersigned, as to themselves only, certify that the information set forth in this statement is true, complete and correct. Dated: November 1, 1999 DNMC PUBLIC HOLDINGS, L.L.C. By: Walton Street Real Estate Fund II, L.P. Its: Member By: Walton Street Managers II, L.P. Its: General Partner By: WSC Managers II, Inc. Its: General Partner By: /s/ Ira J. Schulman -------------------- Name: Ira J. Schulman Its: Vice President WALTON STREET REAL ESTATE FUND II, L.P. By: Walton Street Managers II, L.P. Its: General Partner By: WSC Managers II, Inc. Its: General Partner By: /s/ Ira J. Schulman -------------------- Name: Ira J. Schulman Its: Vice President Page 12 of 16 WALTON STREET MANAGERS II, L.P. By: WSC Managers II, Inc. Its: General Partner By: /s/ Ira J. Schulman --------------------- Name: Ira J. Schulman Its: Vice President WSC MANAGERS II, INC. By: /s/ Ira J. Schulman --------------------- Name: Ira J. Schulman Its: Vice President Page 13 of 16 Schedule A Director of WSC Managers II, Inc.
Name Address of Principal Business Office Citizenship - ----------------- ------------------------------------ ------------------------ Ira J. Schulman 900 North Michigan Avenue United States of America Chicago, Illinois 60611
Executive Officers of WSC Managers II, Inc.
Name and Title Address of Principal Business Office Citizenship - ------------------------ ------------------------------------ ------------------------ Neil G. Bluhm 900 North Michigan Avenue United States of America President Chicago, Illinois 60611 Ira J. Schulman 900 North Michigan Avenue United States of America Vice President Chicago, Illinois 60611 Jeffrey S. Quicksilver 900 North Michigan Avenue United States of America Vice President Chicago, Illinois 60611 Eric C. Mogentale 900 North Michigan Avenue United States of America Vice President Chicago, Illinois 60611 K. Jay Weaver 900 North Michigan Avenue United States of America Vice President Chicago, Illinois 60611
Page 14 of 16 Exhibit A Joint Filing Agreement In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of them of a statement on Schedule 13D (including amendments thereto) with respect to the common stock, par value $0.01 per share, of American Retirement Corporation, and further agree that this Joint Filing Agreement be included as an Exhibit to such joint filing. In evidence thereof, the undersigned hereby execute this Agreement this 1st day of November, 1999. DNMC PUBLIC HOLDINGS, L.L.C. By: Walton Street Real Estate Fund II, L.P. Its: Member By: Walton Street Managers II, L.P. Its: General Partner By: WSC Managers II, Inc. Its: General Partner By: /s/ Ira J. Schulman --------------------- Name: Ira J. Schulman Its: Vice President WALTON STREET REAL ESTATE FUND II, L.P. By: Walton Street Managers II, L.P. Its: General Partner By: WSC Managers II, Inc. Its: General Partner By: /s/ Ira J. Schulman --------------------- Name: Ira J. Schulman Its: Vice President Page 15 of 16 WALTON STREET MANAGERS II, L.P. By: WSC Managers II, Inc. Its: General Partner By: /s/ Ira J. Schulman --------------------- Name: Ira J. Schulman Its: Vice President WSC MANAGERS II, INC. By: /s/ Ira J. Schulman --------------------- Name: Ira J. Schulman Its: Vice President Page 16 of 16 -----END PRIVACY-ENHANCED MESSAGE-----