-----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, RRZIDVLuS56cpPk45D/7WwTjnPg4PoTqBROsFdVyBCaHa9T5iGFlMJ6yjOMmNrfy 2zDhLNGHK6sh5kW8tbPv2A== 0000898430-96-003232.txt : 19960718 0000898430-96-003232.hdr.sgml : 19960718 ACCESSION NUMBER: 0000898430-96-003232 CONFORMED SUBMISSION TYPE: SC 13D CONFIRMING COPY: PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19960717 SROS: AMEX SROS: PSE GROUP MEMBERS: MICHAEL E. TENNENBAUM GROUP MEMBERS: TENNENBAUM & CO LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MISSION WEST PROPERTIES/NEW/ CENTRAL INDEX KEY: 0000704874 STANDARD INDUSTRIAL CLASSIFICATION: OPERATORS OF NONRESIDENTIAL BUILDINGS [6512] IRS NUMBER: 952635431 STATE OF INCORPORATION: CA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-33637 FILM NUMBER: 00000000 BUSINESS ADDRESS: STREET 1: 6815 FLANDERS DR STE 250 CITY: SAN DIEGO STATE: CA ZIP: 92121 BUSINESS PHONE: 6194503135 MAIL ADDRESS: STREET 1: 6815 FLANDERS DR STREET 2: SUITE 250 CITY: SAN DIEGO STATE: CA ZIP: 92121-3914 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TENNENBAUM & CO LLC CENTRAL INDEX KEY: 0001018962 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 954587347 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 1999 AVENUE OF THE STARS STREET 2: 32ND FLOOR CITY: LOS ANGELES STATE: CA ZIP: 90067-6100 BUSINESS PHONE: 3102017882 MAIL ADDRESS: STREET 1: 1999 AVENUE OF THE STARS CITY: LOS ANGELES STATE: CA ZIP: 90067-6100 SC 13D 1 SCHEDULE 13-D REC'D S.E.C. UNITED STATES JUL 11 1996 SECURITIES AND EXCHANGE COMMISSION FEE 024 WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. ___________ )* MISSION WEST PROPERTIES - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 60520010 - -------------------------------------------------------------------------------- (CUSIP Number) Michael E. Tennenbaum 1999 Avenue of the Stars 32nd Floor Los Angeles, CA 90067 (310) 201-7882 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) July 2, 1996 - -------------------------------------------------------------------------------- (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 Rule 13d-1(b)(3) or (4), check the following box [_]. Check the following box if a fee is being paid with the statement [X]. (A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) NOTE: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) 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 6 pages - ----------------------- CUSIP NO. 60520010 SCHEDULE 13D - ----------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Michael E. Tennenbaum SS No. 252 50 6178 - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 PF - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) 5 [_] - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 United States - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 87,900 OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 87,900 - ------------------------------------------------------------------------------ 11 87,900 - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 6.4% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 IN - ------------------------------------------------------------------------------ Page 2 of 6 pages - ----------------------- CUSIP NO. 60520010 SCHEDULE 13D - ----------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Tennenbaum & Co., LLC 95 4587347 - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 WC - ------------------------------------------------------------------------------ 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 87,900 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 87,900 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 - ------------------------------------------------------------------------------ 11 87,900 - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 6.4% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 CO - ------------------------------------------------------------------------------ Page 2 of 6 pages ITEM 1. SECURITY AND ISSUER ------------------- Common Stock of Mission West Properties (the "Company"), 6815 Flanders Drive, Suite 250, San Diego, California 92121-3914. ITEM 2. IDENTITY AND BACKGROUND ----------------------- Tennenbaum & Co., LLC is a limited liability company organized under the laws of Delaware, whose address is 1999 Avenue of the Stars, Los Angeles, CA 90067. The principal business of Tennenbaum & Co., LLC consists of asset management and monitoring services. Its managing member is Michael E. Tennenbaum, who has the same address. Mr. Tennenbaum's principal occupation is as managing member of Tennenbaum & Co., LLC. During the past 5 years, neither Tennenbaum & Co., LLC nor Mr. Tennenbaum have been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors), nor has either been a party to any civil proceeding which resulted in a judgment, degree or final order enjoining either of them from future violations of, or prohibiting or mandating activities on the part of either subject to, Federal or State securities laws or finding any violation by either of them with respect to such laws. Mr. Tennenbaum is a citizen of the United States. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION ------------------------------------------------- Funds to purchase the securities which are the subject of this statement, aggregating $604,593, were provided from Mr. Tennenbaum's personal funds and from working capital of Tennenbaum & Co., LLC. 77,400 of such shares were acquired by Mr. Tennenbaum in his personal account and then transferred, as a contribution to capital, to Tennenbaum & Co., LLC on July 3, 1996. ITEM 4. PURPOSE OF TRANSACTION ---------------------- The reporting persons acquired the securities described herein as an investment. They intend to monitor and evaluate the investment on a continuing basis; and based upon their evaluation from time to time, they may acquire additional shares, dispose of all or a portion of the shares beneficially owned by them, submit one or more proposals for the consideration of management of the Company, and/or communicate with other shareholders of the Company. Page 3 of 6 pages In May 1996, Mr. Tennenbaum orally expressed to a representative of Triton Group Ltd. his interest in exploring, on a mutually agreed basis, a transaction in which he might acquire control of Triton, and indirectly the Company. Triton's representative did not pursue this inquiry; and there have been no further discussions between them. On July 1, 1996, the Company announced an agreement for the sale of substantially all of its assets to DMB/SVP California Investments, LLC. Based upon the information presently available to them, the reporting persons believe that the interests of the Company's stockholders may be better served by continuing to hold its properties. The reporting persons are seeking additional information concerning the proposed transaction and its effect upon the interests of stockholders, and have not at this time reached a conclusion as to their position on the matter. Except as set forth above, the reporting persons have no plans or proposals which relate or would result in: (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 of 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, including but not limited to, if the issuer is a registered closed-end investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by Section 13 of the Investment Company Act of 1940; (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; Page 4 of 6 pages (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 ------------------------------------ The shares identified pursuant to Item 1 constitute approximately 6.4% of the outstanding common stock of the Company, based upon the Company's most recent available filing with the Securities and Exchange Commission. Tennenbaum & Co., LLC has the sole power of voting and disposition with respect to such shares. By reason of his position as managing member of Tennenbaum & Co., LLC, Michael E. Tennenbaum may be deemed to share such powers of voting and disposition. Set forth on Exhibit A, attached hereto, is information concerning all transactions in the Company's common stock by Mr. Tennenbaum or Tennenbaum & Co., LLC that were effected within 60 days prior to the date of this statement. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT --------------------------------------------------------------------- TO SECURITIES OF THE ISSUER --------------------------- None. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS -------------------------------- Exhibit A - Transactions in Common Stock of the Company. 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. /s/ Michael E. Tennenbaum --------------------------------------- Michael E. Tennenbaum, individually and as Managing Member of Tennenbaum & Co., LLC Page 5 of 6 pages EX-99.A 2 TRANSACTIONS IN COMMON STOCK OF THE COMPANY EXHIBIT A Transactions by Michael E. Tennenbaum
DATE AMOUNT PRICE COST ---- May 06, 1996 5,000 6-1/4 $ 31,550.00 May 07, 1996 1,000 6-1/8 6,185.00 May 08, 1996 1,000 6 6,060.00 1,000 6 6,060.00 May 10, 1996 500 6-l/8 3,092.50 May 20, 1996 1,500 6-1/4 9,465.00 May 21, 1996 1,500 6-l/4 9,465.00 May 22, 1996 2,800 6-l/4 17,668.00 May 23, 1996 800 6-1/4 5,048.00 May 24, 1996 4,900 6-l/4 30,919.00 8,000 6-l/4 50,480.00 June 05, 1996 1,000 6-3/8 6,435.00 2,000 6-3/8 12,870.00 June 10, 1996 500 6-1/2 3,280.00 June 13, 1996 2,000 6-3/8 12,870.00 June 14, 1996 1,000 6-3/8 6,435.00 1,000 6-3/8 6,435.00 June 20, 1996 25,000 6-7/8 173,125.00 July 02, 1996 4,000 7 28,240.00 10,000 7-1/2 75,600.00 July 03, 1996 400 7-3/8 2,974.00 2,500 7-3/8 18,587.50 Total 77,400 $522,844.00 Transactions by Tennenbaum & Co., LLC July 10, 1996 1,000 7-5/8 7,675.00 3,000 7-1/2 22,652.50 July 11, 1996 500 7-11/16 3,868.75 6,000 7-7/8 47,552.50 Total 10,500 $ 81,748.75 Transactions by Michael E. Tennenbaum and Tennenbaum & Co., LLC Total 87,900 $604,592.75
The 77,400 shares purchased through July 3, 1996 were transferred to Tennenbaum & Co., LLC. Page 6 of 6 pages -----END PRIVACY-ENHANCED MESSAGE-----