-----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, UgmOZrs6EqXTBFaMkXYKYnuw6PLEQVPEpjOv6JwWPJQJRAfQVdKVO/P/osAMPKl5 m9CuWY8V72k9eWs8UyF63g== 0000950142-99-000450.txt : 19990607 0000950142-99-000450.hdr.sgml : 19990607 ACCESSION NUMBER: 0000950142-99-000450 CONFORMED SUBMISSION TYPE: SC 13E3/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19990604 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: KRUPP REALTY FUND LTD III CENTRAL INDEX KEY: 0000702117 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 042763323 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13E3/A SEC ACT: SEC FILE NUMBER: 005-46975 FILM NUMBER: 99641007 BUSINESS ADDRESS: STREET 1: C/O BERKSHIRE REALTY AFFILIATES STREET 2: 470 ATLANTIC AVENUE CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 6174232233 MAIL ADDRESS: STREET 1: 470 ATLANTIC AVENUE STREET 2: C/O BERKSHIRE REALTY AFFILIATES CITY: BOSTON STATE: MA ZIP: 02210 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KRUPP FAMILY LIMITED PARTNERSHIP 94 CENTRAL INDEX KEY: 0001086325 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13E3/A BUSINESS ADDRESS: STREET 1: ONE BEACON ST STREET 2: STE 1500 CITY: BOSTON STATE: MA ZIP: 02108 MAIL ADDRESS: STREET 1: ONE BEACON ST STREET 2: STE 1500 CITY: BOSTON STATE: MA ZIP: 02108 SC 13E3/A 1 AMENDMENT NO. 3 TO SCHEDULE 13E-3 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 --------------------------- SCHEDULE 13E-3 Rule 13e-3 Transaction Statement (Pursuant to Section 13(e) of the Securities Exchange Act of 1934 and Rule 13e-3 (ss. 240.13e-3) thereunder) Amendment No. 3 --------------------------- Krupp Realty Fund, Ltd. - III (Name of Issuer) --------------------------- KRF3 Acquisition Company, L.L.C. KRF Company, L.L.C. The Krupp Family Limited Partnership - 94 (Name of Person(s) Filing Statement) --------------------------- Limited Partnership Units (Title of Class of Securities) --------------------------- 501128 10 2 (CUSIP Number of Class of Securities) --------------------------- Scott D. Spelfogel, Esq. The Berkshire Group One Beacon Street Boston, Massachusetts 02108 (617) 574-8385 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on Behalf of Person(s) Filing Statement) --------------------------- With copies to: James M. Dubin, Esq. Paul, Weiss, Rifkind, Wharton & Garrison 1285 Avenue of the Americas New York, New York 10019-6064 (212) 373-3000 This statement is filed in connection with (check appropriate box): a. [ ] The filing of solicitation materials or an information statement subject to Regulation 14C or Rule 13e-3(c) under the Securities Exchange Act of 1934. b. [ ] The filing of a registration statement under the Securities Act of 1933. c. [X] A tender offer. d. [ ] None of the above. Check the following box if the soliciting materials or information statement referred to in checking box (a) are preliminary copies: [ ] --------------------------- CALCULATION OF FILING FEE Transaction Valuation: $13,750,000 Amount of filing fee: $2750.00 o Transaction valuation assumes the purchase of 25,000 units Krupp Realty Fund, Ltd. - III. at $550 in cash per Unit. The amount of the filing fee, calculated in accordance with Regulation 240.0-11 of the Securities Exchange Act of 1934, equals one fiftieth of one percentum of such transaction value. [X] Check box if any part of the fee is offset by Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by either a registration statement number, or the Form or Schedule and the date of its filing. Amount Previously Paid: $2750.00 Filing Parties: KRF3 Acquisition Company, L.L.C., KRF Company, L.L.C. and The Krupp Family Limited Partnership-94 Form or Registration No.: Schedule 14D-1 Date Filed: May 14, 1999 ================================================================================ This Amendment No. 3, dated June 4, 1999 (the "Amendment"), to the Rule 13E-3 Transaction Statement originally filed with the Securities and Exchange Commission on May 14, 1999 and amended by Amendment No. 1 thereto dated May 20, 1999 and Amendment No. 2 thereto dated May 28, 1999 (collectively, the "Statement"), attaches additional solicitation materials sent to holders of Units (as defined below) ("Unitholders") in connection with the Offer and amends and restates Items 6(b) and 15(b) of the Statement. This Amendment and the Statement relate to a tender offer by the Purchaser, to purchase any and all outstanding investor limited partnership interests (the "Units") of Krupp Realty Fund, Ltd. - III, a limited partnership organized under the laws of Massachusetts, for $550 per Unit, in cash, less the aggregate amount of distributions per Unit, if any made after May 14, 1999, without interest, upon the terms and subject to the conditions set forth in the Offer to Purchase and the Supplement to the Offer to Purchase, each dated as of May 14, 1999, and in the related Agreement of Assignment and Transfer (which together constitute the "Offer"). 2 Item 6. Source and Amounts of Funds or Other Consideration. Item 6(b) of the Rule 13E-3 Transaction Statement is hereby amended and restated as follows: Except as otherwise set forth herein, the Purchaser will pay all costs and expenses of printing, publishing and mailing the Offer. The following table sets forth the various expenses in connection with the Offer. All of the amounts shown are estimated except the Commission registration fee. Commission filing fee............................................ $ 2,750 Legal fees and expenses.......................................... 150,000 Solicitation Expenses............................................ 72,000 Printing Costs................................................... 15,000 Partnership Transfer Fees........................................ 67,500 Miscellaneous.................................................... 2,750 -------------- Total................................................... $ 310,000 ============== The Purchaser has retained Krupp Funds Group Limited Partnership to act as Depositary and Co-Information Agent and Georgeson & Company, Inc. to serve as Co-Information Agent in connection with the Offer. The Purchaser has agreed to pay each of the Depositary and the Information Agents reasonable and customary compensation for their services in connection with the Offer, plus reimbursement for out-of-pocket expenses, and has agreed to indemnify each of them against certain liabilities and expenses in connection therewith, including certain liabilities under the federal securities laws. The Purchaser will not pay any fees or commissions to any broker or dealer or other person (other than the Information Agents) in connection with the solicitation of tenders of Units pursuant to the Offer. Item 15. Persons and Assets Employed, Retained or Utilized. Item 15(b) of the Rule 13E-3 Transaction Statement is hereby amended and restated as follows: Except as otherwise set forth herein, the Purchaser will pay all costs and expenses of printing, publishing and mailing the Offer. The following table sets forth the various expenses in connection with the Offer. All of the amounts shown are estimated except the Commission registration fee. Commission filing fee........................................... $ 2,750 Legal fees and expenses......................................... 150,000 Solicitation Expenses........................................... 72,000 Printing Costs.................................................. 15,000 Partnership Transfer Fees....................................... 67,500 Miscellaneous................................................... 2,750 -------------- Total.................................................. $ 310,000 ============== The Purchaser has retained Krupp Funds Group Limited Partnership to act as Depositary and Co-Information Agent and Georgeson & Company, Inc. to serve as Co-Information Agent in connection with the Offer. The Purchaser has agreed to pay each of the Depositary and the Information Agents reasonable and customary compensation for their services in connection with the Offer, plus reimbursement for out-of-pocket expenses, and has agreed to indemnify each of them against certain liabilities and expenses in connection therewith, including certain liabilities under the federal securities laws. The Purchaser will not pay any fees or commissions to any broker or dealer or other person (other than the Information Agents) in connection with the solicitation of tenders of Units pursuant to the Offer. Item 17. Material to be Filed as Exhibits. Item 17 of the Rule 13E-3 Transaction Statement is hereby amended and supplemented by adding the following exhibits thereto: Exhibit No. Description (d)(9) Additional solicitation material (d)(10) Additional solicitation material SIGNATURE After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Amendment is true, complete and correct. Dated as of: June 4, 1999 KRF3 Acquisition Company, L.L.C. By: KRF Company, L.L.C., its sole member By: The Krupp Family Limited Partnership - 94, its sole member By: /s/ Douglas Krupp ----------------- Name: Douglas Krupp Title: General Partner KRF Company, L.L.C. By: The Krupp Family Limited Partnership - 94, its sole member By: /s/ Douglas Krupp ----------------- Name: Douglas Krupp Title: General Partner The Krupp Family Limited Partnership - 94 By: /s/ Douglas Krupp ----------------- Name: Douglas Krupp Title: General Partner EXHIBIT INDEX Exhibit No. Description (d)(9) Additional solicitation material (d)(10) Additional solicitation material EX-1 2 EXHIBIT (D) (9) Krupp Funds Group [DATE] Investor Investor ID [NAME] [ADDRESS] Transaction Summary Units Invested Tender Offer Cash Proceeds Price X = [Number of Units held by $550.00 [Total] Investor] Take advantage of this offer. Sign the attached yellow form and return it to us in the enclosed envelope. Your check for [Total] will be mailed promptly 30 days after the expiration of the offer period if the conditions of this tender offer are met and it is consummated. Tender-Offer Considerations There is Still an Opportunity to Tender Your Units: The tender offer is scheduled to expire on June 11, 1999. This offer to acquire all units of Krupp Realty Fund, Ltd.-III made by KRF3 Acquisition Company, L.L.C., an affiliate of the General Partners, is the highest offer made to investors. Madison Offer Withdrawn The offer by Madison Liquidity Investors 104, L.L.C. of $425 per unit has been withdrawn. All units tendered under that offer are being returned. Opportunity to Liquidate Your Investment: If you acquired the units when they were originally offered in 1982, this offer, plus distributions you have received from inception, will return 100% of your original investment and a return of 1.08% per year over the 17-year investment period. The offer provides you with the opportunity to reinvest in assets that may offer greater liquidity and diversity and less risk. Partnership Termination Date: The partnership termination date is December 31, 2020 unless terminated sooner. Address questions about your account to: KRUPP Or Call: Attn: Investor Communications Investor Communications: 1-800-25-KRUPP One Beacon St., Suite 1500 Boston, Massachusetts 02108 EX-2 3 EXHIBIT (D) (10) SURVEY OF RENTAL PROPERTIES IN COLUMBIA, MARYLAND++
- --------------------------------------------------------------------------------------------------------------------- PROPERTY NAME YEAR BUILT STATUS OF KITCHENS & CLUBROOM POOL FITNESS WASHER/DRYER MICROWAVE BATHS CENTER - --------------------------------------------------------------------------------------------------------------------- The 1998 New kitchens & baths yes yes yes yes yes Gramercy - --------------------------------------------------------------------------------------------------------------------- The July New kitchens & baths yes yes yes yes yes Reserve 1999 - --------------------------------------------------------------------------------------------------------------------- Bluffs 1987 Newer kitchens & baths no no no no no at Fairway - --------------------------------------------------------------------------------------------------------------------- Reflect- 1986 Newer kitchens & baths yes yes yes yes yes ions - --------------------------------------------------------------------------------------------------------------------- Bluffs 1989 Newer kitchens & baths no no no no no at Clarys - --------------------------------------------------------------------------------------------------------------------- Bluffs 1988 Newer kitchens & baths no no no no no at Hawthorne - --------------------------------------------------------------------------------------------------------------------- Hobbits 1989 Newer kitchens & baths yes yes yes yes yes Grove - --------------------------------------------------------------------------------------------------------------------- Bentana 1971 Renovating; new no no no no yes cabinets, counters & appliances - --------------------------------------------------------------------------------------------------------------------- Lazy 1981 Renovating; new no no no Yes no Hollow cabinets, counters, appliances & baths - --------------------------------------------------------------------------------------------------------------------- Great 1972 Renovating; new no yes no Connections no Oaks cabinets, counters, in 2 BR appliances & baths - --------------------------------------------------------------------------------------------------------------------- The 1978 Renovating; new no no no Yes no Chimneys cabinets, counters, appliances & baths - ---------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------- PROPERTY NAME YEAR BUILT STATUS OF KITCHENS & CLUBROOM POOL FITNESS WASHER/DRYER MICROWAVE BATHS CENTER - --------------------------------------------------------------------------------------------------------------------- Autumn 1972 Renovated; new no no no yes no Crest cabinets, counters, appliances & baths - --------------------------------------------------------------------------------------------------------------------- Harper's 1969 Renovated; new no no no no yes Forest cabinets, counters, appliances & baths - --------------------------------------------------------------------------------------------------------------------- Cedar 1974 Renovated; new no no no yes no Valley counters, appliance & baths - --------------------------------------------------------------------------------------------------------------------- Southgate 1986 Renovated; new no no yes yes no Crossing cabinets, counters, appliances & baths - --------------------------------------------------------------------------------------------------------------------- Fenland 1971 Older kitchens & baths no no no no no Field - --------------------------------------------------------------------------------------------------------------------- Dorsey's 1972 Older kitchens & baths no no no no no Forge - --------------------------------------------------------------------------------------------------------------------- Hannibal 1969 Older kitchens & baths no no no no no Grove - --------------------------------------------------------------------------------------------------------------------- Tor 1970 Older cabinets, new yes yes yes yes no Gardens appliances & bath vanities - ---------------------------------------------------------------------------------------------------------------------
++ Prepared by the Property Manager of Krupp Realty Fund, Ltd. - III -----END PRIVACY-ENHANCED MESSAGE-----