SC 13D/A 1 0001.txt Securities and Exchange Commission Washington, D.C. 20549 AMENDMENT NO. 6 TO SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) Entertainment Properties Trust ----------------------------------------------------------------------------- (Name of Issuer) Common Shares of Beneficial Interest, par value $.01 per share ----------------------------------------------------------------------------- (Title of Class of Securities) 293805105 ----------------------------------------------------------------------------- Simeon Brinberg (CUSIP Number) 60 Cutter Mill Road, Great Neck, New York 11021 516-466-3100 ----------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) ----------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule l3G to report the acquisition that is the subject of this Schedule l3D, and is filing this schedule because of Rule l3d-l(e), 13d-1 (f) or 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 Rule l3d-7 for other parties to whom copies are to be sent. Page 1 of 19 Pages Page 2 of 19 Pages Cusip No. 293805105 ----------------------------------------------------------------- l. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON BRT Realty Trust- 13-2755856 ----------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)X (b) ----------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------- 4. SOURCE OF FUNDS* WC ----------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ----------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Massachusetts ----------------------------------------------------------------- 7. SOLE VOTING POWER - 1,355,600 NUMBER OF _____________________________________________ SHARES 8. SHARED VOTING POWER - BENEFICIALLY ____________________________________________ OWNED BY 9. SOLE DISPOSITIVE POWER - 1,355,600 EACH _____________________________________________ REPORTING 10. SHARED DISPOSITIVE POWER - PERSON WITH _____________________________________________ ----------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON - 1,355,600 ----------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ----------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.24% ----------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* OO Page 3 of 19 Pages Cusip No. 293805105 l. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Gould Investors L.P. - 11-2763164 ----------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)X (b) ----------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------- 4. SOURCE OF FUNDS* WC ----------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ----------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ----------------------------------------------------------------- 7. SOLE VOTING POWER - 1,500 NUMBER OF _____________________________________________ SHARES 8. SHARED VOTING POWER - 28,500 (1) BENEFICIALLY _____________________________________________ OWNED BY 9. SOLE DISPOSITIVE POWER - 1,500 EACH _____________________________________________ REPORTING 10. SHARED DISPOSITIVE POWER - 28,500 (1) PERSON WITH _____________________________________________ ----------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON - 30,000 (1) ----------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ----------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) LESS THAN 1% ----------------------------------------------------------------- Page 4 of 19 Pages 14. TYPE OF REPORTING PERSON* PN (1) Gould Investors L.P. is a member of SASS/Gould Real Estate Securities LLC, a limited liability company, which is the succesor to SASS/Gould REIT Partners. An affiliate of Gould Investors L.P. is a sub-advisor to the Managing Member of the limited liability company. Gould Investors L.P. may be deemed to have shared voting and shared dispositive power with respect to the shares owned by SASS/Gould Real Estate Securities LLC. Page 5 of 19 Pages Cusip No. 293805105 l. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ONE LIBERTY PROPERTIES, INC. - 13-3147497 ----------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)X (b) ------------------------------------------------------------ 3. SEC USE ONLY ----------------------------------------------------------------- 4. SOURCE OF FUNDS* WC ----------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ----------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION MARYLAND ----------------------------------------------------------------- 7. SOLE VOTING POWER - 2,625 NUMBER OF _____________________________________________ SHARES 8. SHARED VOTING POWER - BENEFICIALLY ____________________________________________ OWNED BY 9. SOLE DISPOSITIVE POWER - 2,625 EACH _____________________________________________ REPORTING 10. SHARED DISPOSITIVE POWER - PERSON WITH _____________________________________________ ----------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON - 2,625 ----------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ----------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) LESS THAN 1% ----------------------------------------------------------------- 14. TYPE OF REPORTING PERSON * CO Page 6 of 19 Pages Cusip No. 293805105 l. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SASS/GOULD Real Estate Securities LLC (1) ----------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)X (b) ----------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------- 4. SOURCE OF FUNDS* WC ----------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ----------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION New York ----------------------------------------------------------------- 7. SOLE VOTING POWER - 28,500 NUMBER OF _____________________________________________ SHARES 8. SHARED VOTING POWER - BENEFICIALLY ____________________________________________ OWNED BY 9. SOLE DISPOSITIVE POWER - 28,500 EACH _____________________________________________ REPORTING 10. SHARED DISPOSITIVE POWER - PERSON WITH _____________________________________________ ----------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON - 28,500 ----------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* --------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) LESS THAN 1% ----------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* OO (1) Successor to SASS/Gould REIT Partners. Page 7 of 19 Pages Cusip No. 293805105 l. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Fredric H. Gould and Fredric H. Gould Spousal IRA ###-##-#### ----------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)X (b) ----------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------- 4. SOURCE OF FUNDS* PF ----------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ----------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION United States ----------------------------------------------------------------- 7. SOLE VOTING POWER - 2,112 (1) NUMBER OF _____________________________________________ SHARES 8. SHARED VOTING POWER - 1,388,225 (2) BENEFICIALLY _____________________________________________ OWNED BY 9. SOLE DISPOSITIVE POWER - 2,112 (1) EACH ______________________________________________ REPORTING 10. SHARED DISPOSITIVE POWER - 1,388,225 (2) PERSON WITH _____________________________________________ ----------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON - 1,390,337 ----------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ----------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) LESS THAN 9.48% ----------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* IN NOTE: - (1) The 2,112 shares includes 1,850 shares owned by Fredric H. Gould, individually, and 262 shares owned by Fredric H. Gould Spousal IRA. Page 8 of 19 Pages (2) Fredric H. Gould is Chairman of the Board and Chief Executive Officer of BRT Realty Trust, a General Partner of Gould Investors L.P. and Chairman of the Board and Chief Executive Officer of One Liberty Properties, Inc. Gould Investors L.P. is a member of SASS/Gould Real Estate Securities LLC and an affiliate of Gould Investors L.P. is the sub-advisor to the limited liability company. Mr. Gould may be deemed to have shared voting and shared dispositive power as to the Common Shares of the Company owned by these entities. Page 9 of 19 Pages Cusip No. 293805105 l. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Helaine Gould - ###-##-#### ----------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)X (b) ----------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------- 4. SOURCE OF FUNDS* PF ----------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ----------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION United States ----------------------------------------------------------------- 7. SOLE VOTING POWER - 1,000 NUMBER OF _____________________________________________ SHARES 8. SHARED VOTING POWER - BENEFICIALLY ____________________________________________ OWNED BY 9. SOLE DISPOSITIVE POWER - 1,000 EACH _____________________________________________ REPORTING 10. SHARED DISPOSITIVE POWER - PERSON WITH _____________________________________________ ----------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON - 1,000 ----------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ----------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) LESS THAN 1% ----------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* IN Page 10 of 19 Pages Cusip No. 293805105 l. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Jeffrey Gould - ###-##-#### ----------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)X (b) ----------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------- 4. SOURCE OF FUNDS* PF ----------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ----------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION United States ----------------------------------------------------------------- 7. SOLE VOTING POWER - 300 NUMBER OF _____________________________________________ SHARES 8. SHARED VOTING POWER - 1,355,600 (1) BENEFICIALLY _____________________________________________ OWNED BY 9. SOLE DISPOSITIVE POWER - 300 EACH _____________________________________________ REPORTING 10. SHARED DISPOSITIVE POWER - 1,355,600 (1) PERSON WITH _____________________________________________ - ----------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON - 1,355,900 ----------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ----------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.24% ----------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* IN (1) Jeffrey Gould is President of BRT Realty Trust. Accordingly, he may be deemed to have shared voting and shared dispositive power over the shares owned by BRT Realty Trust. Page 11 of 19 Pages Cusip No. 293805105 l. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Matthew Gould - ###-##-#### ----------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)X (b) ----------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------- 4. SOURCE OF FUNDS* PF ----------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ----------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION United States ----------------------------------------------------------------- 7. SOLE VOTING POWER - 350 NUMBER OF _____________________________________________ SHARES 8. SHARED VOTING POWER - 30,000 (1) BENEFICIALLY _____________________________________________ OWNED BY 9. SOLE DISPOSITIVE POWER - 350 EACH _____________________________________________ REPORTING 10. SHARED DISPOSITIVE POWER - 30,000(1) PERSON WITH _____________________________________________ ----------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON - 30,350 ----------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ----------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) LESS THAN 1% ----------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* IN (1) Matthew Gould is President of the managing corporate general partner of Gould Investors L.P. Accordingly, he may be deemed to have shared voting and shared dispositive power over the shares owned by Gould Investors L.P. and the shares owned by SASS/Gould Real Estate Securities LLC. Page 12 of 19 Pages Cusip No. 293805105 l. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Israel Rosenzweig - ###-##-#### and Zehavit Rosenzweig, as joint tenants. ----------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)X (b) ----------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------- 4. SOURCE OF FUNDS* PF ----------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ----------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION United States ----------------------------------------------------------------- 7. SOLE VOTING POWER - 1,000 NUMBER OF _____________________________________________ SHARES 8. SHARED VOTING POWER - BENEFICIALLY ____________________________________________ OWNED BY 9. SOLE DISPOSITIVE POWER - 1,000 EACH _____________________________________________ REPORTING 10. SHARED DISPOSITIVE POWER - PERSON WITH _____________________________________________ ----------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON - 1,000 ----------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ----------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) LESS THAN 1% ----------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* IN Page 13 of 19 Pages Cusip No. 293805105 l. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Israel Rosenzweig - Keogh Account, 068-52-3463 and Israel Rosenzweig as custodian for Alon Rosenzweig under New York Uniform Gift to Minors Act - ###-##-####. ----------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)X (b) ----------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------- 4. SOURCE OF FUNDS* PF ----------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ----------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION United States ----------------------------------------------------------------- 7. SOLE VOTING POWER - 4,300 NUMBER OF _____________________________________________ SHARES 8. SHARED VOTING POWER - BENEFICIALLY ____________________________________________ OWNED BY 9. SOLE DISPOSITIVE POWER - 4,300 EACH _____________________________________________ REPORTING 10. SHARED DISPOSITIVE POWER - PERSON WITH _____________________________________________ ----------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON - 4,300 ----------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* ----------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) LESS THAN 1% ----------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* IN NOTE: The 4,300 shares includes 4,100 shares held in a Keogh Account established by Mr. Rosenzweig and 200 shares are held by him as a custodian for his son. Page 14 of 19 Pages This Amendment amends and supplements Schedule 13D filed with the Securities and Exchange Commission on March 13, 2000, as amended to date. Except as amended by this amendment, there has been no change in the information previously reported on Schedule 13D. Item 4. Purpose of Transaction BRT presently intends to purchase additional Common Shares of the Company in the open market, subject to availability at prices deemed favorable. It also reserves the right not to purchase any additional shares and to dispose of shares of the Company in the future. On September 27, 2000, in a letter to the Company's President, BRT set forth proposals for the Company's Board to consider. A copy of the letter was filed as an Exhibit to Amendment No. 5 to Schedule 13D. The Company responded to BRT by letter dated October 4, 2000 and BRT responded by letter dated October 6, 2000. A copy of these letters are attached as Exhibits to Amendment No. 6. Page 15 of 19 Pages Item 5. Interest in Securities of the Issuer BRT owns, as of this date, 1,355,600 Common Shares of the Company, constituting approximately 9.24% of the 14,679,547 Common Shares outstanding. In the aggregate, BRT, the Partnership, OLP, Sass/Gould, Fredric H. Gould, individually and in his Spousal IRA, Helaine Gould, Matthew Gould, Jeffrey Gould and Israel Rosenzweig, who are filing as a group, own 1,397,287 Common Shares in the aggregate, or 9.52% of the outstanding Common Shares of the Company. Page 16 of 19 Pages Except as set forth in Schedule 13D, as amended to date, BRT, its executive officers and trustees, the Partnership, its general partners (including officers and directors of its corporate general partner), OLP, its officers and directors, Sass/Gould and its managing member and sub-advisor, Fredric H. Gould, Helaine Gould, Matthew Gould, Jeffrey Gould, Israel Rosenzweig and Zehavit Rosenzweig (i) do not own or have the right to acquire, directly or indirectly, any Common Shares of the Company; and (ii) have not in the past sixty (60) days effected any transactions in Common Shares of the Company. Item 7. Exhibit (1) (a) Agreement to file jointly. Filed with Schedule 13D. (b) Power of Attorney. Filed with Schedule 13D. (2) Letter dated May 31, 2000 from BRT Realty Trust to the Board of Trustees of the Company. Filed with Amendment No. 3 to Schedule 13D. (3) Letter dated September 7, 2000 from BRT Realty Trust to the President of the Company. Filed with Amendment No. 4 to Schedule 13D. (4) Letter dated September 27, 2000 from BRT Realty Trust to the President of the Company. Filed with Amendment No. 5 to Schedule 13D. (5) Letter dated October 4, 2000 from the President of the Company to BRT Realty Trust. Filed with Amendment No. 6 to Schedule 13D. (6) Letter dated October 6, 2000 from BRT Realty Trust to the President of the Company. Filed with Amendment No. 6 to Schedule 13D. Page 17 of 19 Pages Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this amendment to the statement is true, complete and correct. Dated: October 6, 2000 BRT REALTY TRUST s/Fredric H. Gould --------------------- Fredric H. Gould By s/Jeffrey Gould --------------------- Jeffrey Gould, s/Fredric H. Gould President --------------------- Fredric H. Gould Spousal IRA GOULD INVESTORS L.P. s/Helaine Gould By: GEORGETOWN PARTNERS, INC. --------------------- MANAGING GENERAL PARTNER By:Simeon Brinberg, Attorney in Fact ------------------------------------ By: s/Simeon Brinberg Helaine Gould ---------------------------- s/Matthew Gould Simeon Brinberg, --------------------- Senior Vice President Matthew Gould s/Jeffrey Gould --------------------- ONE LIBERTY PROPERTIES, INC. Jeffrey Gould By: s/Mark H. Lundy s/Israel Rosenzweig ------------------------ --------------------- Mark H. Lundy, Israel Rosenzweig, Secretary Individually and as Custodian s/Zehavit Rosenzweig SASS/GOULD REAL ESTATE By: Simeon Brinberg,Attorney in Fact SECURITIES LLC, ------------------------------------ BY: M.D. SASS INVESTORS Zehavit Rosenzweig SERVICES, INC. BY: s/Martin E. Winter --------------------------- Martin E. Winter, Senior Vice President Page 18 of 19 Pages EXHIBIT October 4, 2000 Mr. Fredric H. Gould BRT Realty Trust 60 Cutter Mill Road Suite 303 Great Neck, NY 11021 Dear Mr. Gould: We have received your letter dated September 27, 2000 and the proposals contained therein. We were disappointed you decided to make public the latest version of the proposals that BRT has made to EPR over the last few months. As we have stated many times, we will evaluate each of your proposals in terms of the best interests of all of our shareholders and whether they offer adequate assurance that our paramount responsibility, the preservation of our REIT status, would not be endangered thereby. We believe your assertion that EPR's board is not acting in the best interests of our shareholders by not agreeing to your unilateral demands is incorrect. With regard to your request to make a presentation to the board of EPR, as I informed you in our telephone conversation of October 2, 2000, the proposals that you put forth in your letter offer nothing new beyond those that you have previously discussed at length, in person, with EPR's board members. Therefore, given the schedule of agenda items for the October 6, 2000 board meeting, EPR's board members have advised me that your attendance at the meeting is not required. As for your request regarding a list of shareholders, please be advised that we have instructed our transfer agent, UMB Bank, N.A., to cooperate with you regarding your request. Sincerely yours, David Brain, President & CEO Entertaiment Properties Trust Page 19 of 19 Pages EXHIBIT October 6, 2000 VIA FAX & HARD COPY (816) 472-5794 Mr. David Brain President & CEO Entertainment Property Trust 30 Pershing Road, Suite 201 Kansas City, Missouri 64108 Dear David: I am in receipt of your letter of October 4, 2000 and regret that you were disappointed that we made public our proposals to the board. The public has a "right to know" and there are regulatory requirements concerning this as well. In reference to whether our proposals "offer adequate assurance that our paramount responsibility, the preservation of our REIT status, would not be in danger thereby" allow me to call your attention to the last sentence in paragraph 2 of our letter of September 27th which reads "we would covenant not to take any action that would negatively affect EPR's REIT status including an agreement not to purchase additional shares if the purchase of same would jeopardize the tax status of EPR as an REIT". Perhaps in your reading of our letter of September 27th, you did not focus on this hence my bringing this to your attention at this time. Clearly, we have and will continue to offer the assurances required relative to the preservation of the REIT status of EPR. Please make this known to the board at today's meeting so there is no misunderstanding. I would be most appreciative if you would be responsive to me relative to the proposals made after the conclusion of your board meeting. As indicated in our letter "the proposals can be varied and enhanced depending upon EPR's needs expressed in discussions with management and the board". Looking forward to hearing from you. Sincerely, BRT REALTY TRUST Fredric H. Gould Chairman of the Board FHG/lm (EPRDB1006)