================================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)
-----------------------
KONOVER PROPERTY TRUST, INC.
(formerly known as FAC Realty Trust, Inc.)
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
(Title of Class of Securities)
301953 10 5
(CUSIP Number)
MARJORIE L. REIFENBERG, ESQ.
LAZARD FRERES REAL ESTATE INVESTORS L.L.C.
30 ROCKEFELLER PLAZA
NEW YORK, NY 10020
(212) 632-6000
WITH A COPY TO:
TOBY S. MYERSON, ESQ.
PAUL, WEISS, RIFKIND, WHARTON & GARRISON
1285 AVENUE OF THE AMERICAS
NEW YORK, NEW YORK 10019-6064
(212) 373-3000
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
-----------------------
March 13, 2002
(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(e), 1(f) or 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 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).
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Page 2 of 20
------------------------------ ------------------------------
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Prometheus Southeast Retail Trust
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
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
NUMBER OF
SHARES None
BENEFICIALLY OWNED BY EACH ------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON
WITH 21,052,631
------------------------------------------------
9 SOLE DISPOSITIVE POWER
None
------------------------------------------------
10 SHARED DISPOSITIVE POWER
21,052,631
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,052,631
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
00 (real estate investment trust)
--------------------------------------------------------------------------------
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Page 3 of 20
------------------------------ ------------------------------
--------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Prometheus Southeast Retail L.L.C.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
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
NUMBER OF
SHARES None
BENEFICIALLY OWNED BY EACH ------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON
WITH 21,052,631
------------------------------------------------
9 SOLE DISPOSITIVE POWER
None
------------------------------------------------
10 SHARED DISPOSITIVE POWER
21,052,631
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,052,631
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
00 (limited liability company)
--------------------------------------------------------------------------------
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Page 4 of 20
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--------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
LFSRI II SPV REIT Corp.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
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
NUMBER OF
SHARES None
BENEFICIALLY OWNED BY EACH ------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON
WITH 21,052,631
------------------------------------------------
9 SOLE DISPOSITIVE POWER
None
------------------------------------------------
10 SHARED DISPOSITIVE POWER
21,052,631
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,052,631
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
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Page 5 of 20
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
LF Strategic Realty Investors II L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
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
NUMBER OF
SHARES None
BENEFICIALLY OWNED BY EACH ------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON
WITH 21,052,631
------------------------------------------------
9 SOLE DISPOSITIVE POWER
None
------------------------------------------------
10 SHARED DISPOSITIVE POWER
21,052,631
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,052,631
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN (limited partnership)
--------------------------------------------------------------------------------
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Page 6 of 20
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--------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
LFSRI II Alternative Partnership L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
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
NUMBER OF
SHARES None
BENEFICIALLY OWNED BY EACH ------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON
WITH 21,052,631
------------------------------------------------
9 SOLE DISPOSITIVE POWER
None
------------------------------------------------
10 SHARED DISPOSITIVE POWER
21,052,631
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,052,631
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN (limited partnership)
--------------------------------------------------------------------------------
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Page 7 of 20
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--------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
LFSRI II-CADIM Alternative Partnership L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
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
NUMBER OF
SHARES None
BENEFICIALLY OWNED BY EACH ------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON
WITH 21,052,631
------------------------------------------------
9 SOLE DISPOSITIVE POWER
None
------------------------------------------------
10 SHARED DISPOSITIVE POWER
21,052,631
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,052,631
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN (limited partnership)
--------------------------------------------------------------------------------
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Page 8 of 20
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--------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lazard Freres Real Estate Investors L.L.C.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
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
NUMBER OF
SHARES None
BENEFICIALLY OWNED BY EACH ------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON
WITH 21,052,631
------------------------------------------------
9 SOLE DISPOSITIVE POWER
None
------------------------------------------------
10 SHARED DISPOSITIVE POWER
21,052,631
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,052,631
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
00 (limited liability company)
--------------------------------------------------------------------------------
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Page 9 of 20
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lazard Freres & Co. LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
--------------------------------------------------------------------------------
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
NUMBER OF
SHARES None
BENEFICIALLY OWNED BY EACH ------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON
WITH 21,052,631
------------------------------------------------
9 SOLE DISPOSITIVE POWER
None
------------------------------------------------
10 SHARED DISPOSITIVE POWER
21,052,631
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,052,631
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO (limited liability company)
--------------------------------------------------------------------------------
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Page 10 of 20
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This Amendment No. 6, dated March 14, 2002, is filed by
Prometheus Southeast Retail Trust, a Maryland real estate investment trust
("Trust"), Prometheus Southeast Retail LLC, a Delaware limited liability Company
("Prometheus"), LFSRI II SPV REIT Corp., a Delaware corporation ("SPV"), LF
Strategic Realty Investors II L.P., a Delaware limited partnership ("LFSRI II"),
LFSRI II Alternative Partnership L.P., a Delaware limited partnership
("Alternative"), LFSRI II-CADIM Alternative Partnership L.P., a Delaware limited
partnership ("CADIM"), Lazard Freres Real Estate Investors L.L.C., a New York
limited liability company ("LFREI"), and Lazard Freres & Co. LLC, a New York
limited liability company ("Lazard," and together with Trust, Prometheus, SPV,
CADIM, Alternative, LFSRI II and LFREI, the "Reporting Persons").
Capitalized terms used herein but not defined shall have the
meanings ascribed thereto in the Schedule 13D dated March 6, 1998, as amended,
filed by Prometheus and LFSRI II (as amended, the "Existing Schedule 13D"). This
Amendment hereby amends and supplements the Existing Schedule 13D as follows:
ITEM 1. SECURITY AND ISSUER.
No change.
ITEM 2. IDENTITY AND BACKGROUND.
Item 2 is hereby amended and restated in its entirety as
follows:
(a) This Statement is filed by (i) the Trust, a Maryland
real estate investment Trust, (ii) Prometheus, a Delaware limited liability
company, (iii) SPV, a Delaware corporation, (iv) LFSRI II, a Delaware limited
partnership, (v) Alternative, a Delaware limited partnership, (vi) CADIM, a
Delaware limited partnership, (vii) LFREI, a New York limited liability company,
and (viii) Lazard, a New York limited liability company.
(b) The principal business addresses of the Trust,
Prometheus, SPV, LFSRI II, Alternative, CADIM and LFREI is c/o Lazard Freres
Real Estate Investors L.L.C., 30 Rockefeller Plaza, New York, New York 10020.
The principal business address of Lazard is 30 Rockefeller Plaza, New York, New
York 10020.
(c) and (f) The Trust and Prometheus were formed to acquire
and hold the Common Stock of the Issuer that was issued pursuant to the Stock
Purchase Agreement, dated as of February 24, 1998 which was amended and restated
in its entirety in the Amended and Restated Stock Purchase Agreement, dated as
of March 23, 1998 ("Stock Purchase Agreement"), by and between the Company and
Prometheus. The Trust now owns all of such Common Stock and Prometheus owns 100%
of the common stock of the Trust. The name, business address, citizenship and
principal occupation or employment of each of the executive officers and
directors of the Trust are set forth in Schedule I hereto and are incorporated
by reference herein.
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Page 11 of 20
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SPV is a holding company and is the sole member of Prometheus.
The name, business address, citizenship and principal occupation or employment
of each of the executive officers and directors of SPV are set forth in Schedule
I hereto and are incorporated by reference herein. SPV disclaims any beneficial
ownership it may be deemed to have of any of the shares of Common Stock.
LFSRI II, Alternative and CADIM (collectively, the "Funds")
are investment partnerships formed to invest in companies active in the real
estate industry. The Funds together own all of the common stock of SPV. Their
respective ownership of the common stock of SPV is as follows: LFSRI II has
86.159%; Alternative has 10.3806%; and CADIM has 3.4602%. The Funds disclaim any
beneficial ownership they may be deemed to have of any of the shares of Common
Stock.
LFREI is the general partner of each of the Funds. LFREI's
activities consist principally of acting as general partner of several real
estate investment partnerships that are affiliated with Lazard. The name,
business address, citizenship and principal occupation or employment of each of
the executive officers of LFREI are set forth in Schedule II hereto and are
incorporated by reference herein. LFREI's investment decisions must be approved
by its investment committee. The name, business address, citizenship and
principal occupation or employment of each of the members of the LFREI
investment committee are also set forth on Schedule II hereto and are
incorporated by reference herein. LFREI disclaims any beneficial ownership it
may be deemed to have of any of the shares of Common Stock.
Lazard is the managing member of LFREI. Lazard's activities
consist principally of financial advisory services. On a day-to-day basis,
Lazard is run by a management committee. The name, business address, citizenship
and principal occupation or employment of each of the members of the management
committee of Lazard are set forth in Schedule III hereto and are incorporated by
reference herein. Lazard disclaims any beneficial ownership it may be deemed to
have of any of the shares of Common Stock.
Lazard is wholly owned by Lazard LLC, a Delaware limited
liability company ("LLLC"), and therefore LLLC may be viewed as controlling
Lazard. LLLC is a holding company. The Lazard Board of LLLC controls LLLC. The
name, business address, citizenship and principal occupation or employment of
the members of the Lazard Board of LLLC are set forth on Schedule IV hereto and
are incorporated by reference herein. The principal business office of LLLC is
3711 Kennett Pike, Suite 120, P.O. Box 4649, Greenville, Delaware 19807-4649.
Lazard, on behalf of LLLC, disclaims any beneficial ownership LLLC may be deemed
to have of any of the shares of Common Stock.
(d) and (e) During the last five years, none of the Reporting
Persons nor, to the best knowledge of the Reporting Persons, any of the persons
listed on Schedules I, II, III or IV hereto (i) has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) nor (ii) has
been a party to any civil proceeding of a judicial or administrative body of
competent jurisdiction, and is or was, as a result of such proceeding, subject
to a judgment, decree or final order enjoining future violations
------------------------------ ------------------------------
Page 12 of 20
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of, or prohibiting or mandating activities subject to, federal or state
securities laws, or fining any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
No change.
ITEM 4. PURPOSE OF TRANSACTION.
Item 4 is hereby amended and supplemented by the addition of
the following:
On March 13, 2002, the Trust delivered to the Special
Committee of the Board of Directors of the Company a letter (the "Letter of
Interest") ( a copy of which is attached as an exhibit hereto and incorporated
herein by reference) expressing interest in discussing a proposal for a business
combination transaction between the Trust and the Company, as more fully
described in the Letter of Interest (the "Transaction"). In connection with the
Trust's proposal, the Reporting Persons hope to enter into discussions with the
Company regarding the Transaction and to explore the possibility of the Trust
offering to acquire the Company. Among other things, and subject to various
conditions as more fully set forth in the Letter of Interest, the Transaction
contemplates offering to the holders of the Company's common stock (other than
the Trust) $1.75 per share ("Cash Price") in cash in exchange for their shares
of common stock in the Company. In addition, holders of the Company's Series A
Convertible Preferred Stock would be given the opportunity to elect to receive
in the Transaction either (x) a security representing a continuing interest in
the Company, the terms of which have yet to be determined, or (y) 105% of the
Cash Price multiplied by the number of shares of common stock issuable upon
conversion of such holder's shares of Series A Preferred Stock.
Depending upon, among other things, current and anticipated
future trading prices for the Company's equity, the financial condition, results
of operations and prospects of the Company and its business, general economic,
market and industry conditions, and the Reporting Persons' overall investment
portfolio, strategic objectives and financial conditions, the Reporting Persons
may from time to time consider a number of possible alternative strategies for
enhancing the value of their investment in the Company, including, among other
things: (i) proposing or seeking to effect an extraordinary corporate
transaction involving the Company other than the Transaction; or (ii) proposing
or effecting any other transaction or matter that would constitute or result in
any of the transactions, matters or effects enumerated in Item 4(a)-(j) of
Schedule 13D including, without limitation, the disposition from time to time of
all or a portion of the Reporting Persons' Common Stock.
In light of the preliminary nature of the Letter of Interest
and the considerations noted above, there can be no assurance that the Trust or
any other Reporting Person will continue to pursue the Transaction or that the
Transaction or any similar transaction will be acceptable to the Company or as
to the terms of any transaction that may be entered into among the Company, the
Reporting Persons or any of their respective affiliates. Moreover, there can be
no assurance that the Reporting Persons will or will not develop any alternative
plans or proposals with respect to any of the foregoing matters or take any
particular action or actions with respect to any of the
------------------------------ ------------------------------
Page 13 of 20
------------------------------ ------------------------------
foregoing matters or take any particular action or actions with respect to some
or all of their holdings in the Company, or as to the timing of any such matters
should they be so pursued by the Reporting Persons. The Reporting Persons
reserve the right, at any time and in each Reporting Person's sole discretion,
to take any of the actions set forth above.
Except as set forth above, the Reporting Persons have no
present plans or intentions that would result in any of the matters required to
be set forth in items (a) through (j) of Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
No change.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.
No change.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
1. Letter dated March 13, 2002 from Prometheus Southeast Retail Trust to
Special Committee of the Board of Directors of Konover Property Trust,
Inc.
------------------------------ ------------------------------
Page 14 of 20
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SIGNATURES
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.
Dated as of March 14, 2002
PROMETHEUS SOUTHEAST RETAIL TRUST
By: /s/ John A. Moore
-------------------------------------------
Name: John A. Moore
Title: Vice President and Chief Financial
Officer
PROMETHEUS SOUTHEAST RETAIL L.L.C.
By: LFSRI II SPV REIT Corp.
as managing member
By: /s/ John A. Moore
-------------------------------------------
Name: John A. Moore
Title: Vice President and Chief Financial
Officer
LFSRI II SPV REIT CORP.
By: /s/ John A. Moore
-------------------------------------------
Name: John A. Moore
Title: Vice President and Chief Financial
Officer
LF STRATEGIC REALTY INVESTORS II L.P.
By: Lazard Freres Real Estate Investors L.L.C.
as general partner
By: /s/ John A. Moore
-------------------------------------------
Name: John A. Moore
Title: Managing Principal and
Chief Financial Officer
------------------------------ ------------------------------
Page 15 of 20
------------------------------ ------------------------------
LFSRI II ALTERNATIVE PARTNERSHIP L.P.
By: Lazard Freres Real Estate Investors L.L.C.
as general partner
By: /s/ John A. Moore
-------------------------------------------
Name: John A. Moore
Title: Managing Principal and
Chief Financial Officer
LFSRI II-CADIM ALTERNATIVE PARTNERSHIP L.P.
By: Lazard Freres Real Estate Investors L.L.C.
as general partner
By: /s/ John A. Moore
-------------------------------------------
Name: John A. Moore
Title: Managing Principal and
Chief Financial Officer
LAZARD FRERES REAL ESTATE INVESTORS L.L.C.
By: /s/ John A. Moore
-------------------------------------------
Name: John A. Moore
Title: Managing Principal and
Chief Financial Officer
LAZARD FRERES & CO. LLC
By: /s/ Scott D. Hoffman
-------------------------------------------
Name: Scott D. Hoffman
Title: Managing Director
------------------------------ ------------------------------
Page 16 of 20
------------------------------ ------------------------------
SCHEDULE I
Except as otherwise indicated, the business address
for each of the following persons is
30 Rockefeller Plaza, New York, NY 10020
Executive Officers and Directors of Prometheus Southeast Retail Trust
NAME OF OFFICER TITLE PRESENT AND PRINCIPAL OCCUPATION
--------------- ----- --------------------------------
Matthew J. Lustig President and Director Managing Principal of Lazard Freres Real
Estate Investors L.L.C. and Managing
Director of Lazard Freres & Co. LLC
Mark S. Ticotin Vice President and Managing Principal of Lazard Freres Real
Director Estate Investors L.L.C.
John A. Moore Vice President, Chief Managing Principal and Chief Financial
Financial Officer and Officer of Lazard Freres Real Estate
Director Investors L.L.C.
Henry C. Herms Treasurer Controller of Lazard Freres Real Estate
Investors L.L.C.
Marjorie L. Reifenberg Secretary Principal, General Counsel and Secretary
of Lazard Freres Real Estate Investors
L.L.C.
Executive Officers and Directors of LFSRI II SPV REIT Corp.
PRESENT AND PRINCIPAL OCCUPATION AND
------------------------------------
BUSINESS ADDRESS (IF OTHER THAN INDICATED
-----------------------------------------
NAME OF OFFICER TITLE ABOVE)
--------------- ----- ------
Matthew J. Lustig President and Director Managing Principal of Lazard Freres Real
Estate Investors L.L.C. and Managing
Director of Lazard Freres & Co. LLC
Mark S. Ticotin Vice President and Managing Principal of Lazard Freres Real
Director Estate Investors L.L.C.
John A. Moore Vice President, Chief Managing Principal and Chief Financial
Financial Officer and Officer of Lazard Freres Real Estate
Director Investors L.L.C.
Henry C. Herms Treasurer Controller of Lazard Freres Real Estate
Investors L.L.C.
Marjorie L. Reifenberg Secretary Principal, General Counsel and Secretary
of Lazard Freres Real Estate Investors
L.L.C.
Adrianne M. Horne Director Assistant to the Division Head of
CT Corporation
CT Corporation
1209 Orange Street
Wilmington, DE 19801
------------------------------ ------------------------------
Page 17 of 20
------------------------------ ------------------------------
SCHEDULE II
Executive Officers and Members
of the Investment Committee
of Lazard Freres Real Estate Investors L.L.C.
The following is a list of the executive officers and of the
members of the investment committee of Lazard Freres Real Estate Investors
L.L.C. ("LFREI"), setting forth the present and principal occupation and
citizenship for each such person and the corporation or other organization in
which such employment is conducted. The business address of each such person is
30 Rockefeller Plaza, New York, NY 10020. Except as otherwise indicated, each
such person is a citizen of the United States.
LFREI EXECUTIVE OFFICERS
------------------------
Robert C. Larson Chairman and Managing Principal of LFREI and Managing Director
of Lazard Freres & Co. LLC
Matthew J. Lustig Managing Principal of LFREI and Managing Director of Lazard
Freres & Co. LLC
John A. Moore Managing Principal and Chief Financial Officer of LFREI
Mark S. Ticotin Managing Principal of LFREI
Gary Ickowicz Principal of LFREI
Marjorie L. Reifenberg Principal, General Counsel and Secretary of LFREI
Douglas N. Wells Principal of LFREI
(Citizen of Canada)
Andrew E. Zobler Principal of LFREI
Henry C. Herms Controller of LFREI
LFREI INVESTMENT COMMITTEE
--------------------------
Albert H. Garner Managing Director of Lazard Freres & Co. LLC
Steven J. Golub Managing Director of Lazard Freres & Co. LLC
Jonathan H. Kagan Managing Director of Lazard Freres & Co. LLC
Robert C. Larson Chairman and Managing Principal of LFREI and Managing Director
of Lazard Freres & Co. LLC
Matthew J. Lustig Managing Principal of LFREI and Managing Director of Lazard
Freres & Co. LLC
James A. Paduano Managing Director of Lazard Freres & Co. LLC
Mark S. Ticotin Managing Principal of LFREI
Ali E. Wambold Managing Director of Lazard Freres & Co. LLC
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Page 18 of 20
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SCHEDULE III
Members of the Management Committee of Lazard Freres & Co. LLC
Set forth below are the names of each of the members of the
management committee of Lazard Freres & Co. LLC. Except as otherwise indicated,
the principal occupation of each such person is managing director of Lazard
Freres & Co. LLC, the business address of each such person is 30 Rockefeller
Plaza, New York, New York 10020 and each person is a citizen of the United
States.
PRINCIPAL OCCUPATION
NAME (IF OTHER THAN AS INDICATED ABOVE)
---- ----------------------------------
Michael J. Castellano
Norman Eig
Steven J. Golub
Scott D. Hoffman
Kenneth M. Jacobs Deputy Chairman of Lazard; and Managing
Director and Head of House of Lazard
Freres & Co. LLC
Gary S. Shedlin
David L. Tashjian
Charles G. Ward, III President of Lazard
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Page 19 of 20
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SCHEDULE IV
Lazard Board of Lazard LLC
Set forth below are the members of the Lazard Board of Lazard
LLC, their business address, principal occupation and citizenship:
PRINCIPAL OCCUPATION
--------------------
NAME AND BUSINESS ADDRESS CITIZENSHIP
---- --------------------- -----------
Marcus Agius Deputy Chairman of Lazard; and Chairman and United Kingdom
Managing Director
of Lazard Brothers & Co., Limited
Lazard Brothers & Co., Limited
21 Moorfields
London EC2P 2HT
United Kingdom
Antoine Bernheim Investor France
Chairman of Assicurazioni Generali S.p.A.
Lazard Freres S.A.S.
121 Boulevard Haussmann
75382 Paris Cedex 08 France
Geradro Braggiotti Deputy Chairman of Lazard; Managing Director of Italy
Lazard Freres S.A.S.,
Lazard Freres & Co. LLC and
Lazard Brothers & Co., Limited;
Vice Chairman of Lazard AB Stockholm
and Lazard & C. Srl; Member of Super-
visory Board of Lazard & Co. GmbH;
and Chairman of Lazard Asesores
Financieras S.A.
Lazard Freres S.A.S.
121 Boulevard Haussmann
75382 Paris Cedex 08 France
Michel A. David-Weill Chairman of Lazard and Chairman of the France
Lazard Board of Lazard LLC
Lazard Freres & Co. LLC
30 Rockefeller Plaza
New York, NY 10020, USA
Jean Guyot Investor France
Lazard Freres S.A.S.
121 Boulevard Haussmann
75382 Paris Cedex 08 France
Kenneth M. Jacobs Deputy Chairman of Lazard; and Managing Director USA
and Head of House of Lazard Freres & Co. LLC
Lazard Freres & Co.
30 Rockefeller Plaza
New York, NY 10020, USA
Alain Merieux President Directeur General (CEO) France
BioMerieux S.A. and BioMerieux Alliance
69280 Marcy L'Etoile
France
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Page 20 of 20
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SCHEDULE IV
Page 2
PRINCIPAL OCCUPATION
--------------------
NAME AND BUSINESS ADDRESS CITIZENSHIP
---- --------------------- -----------
Didier Pfeiffer President du Conseil de Surveillance France
Fonds de Garantie des Assurances
de Personnes
30-32 rue de Taitbout
75311 Paris Cedex 09
France
Bruno M. Roger Chairman and Head of House of Lazard Freres France
S.A.S.
Lazard Freres S.A.S.
121 Boulevard Haussmann
75382 Paris Cedex 08 France
Francois Voss Managing Director of Lazard Freres S.A.S. France
Lazard Freres S.A.S.
121 Boulevard Haussmann
75382 Paris Cedex 08 France
Bruce Wasserstein Head of Lazard and Chief Executive Officer of USA
Lazard LLC and Chairman of the Executive
Committee of Lazard Strategic Coordination
Company LLC
Lazard Freres & Co. LLC
30 Rockefeller Plaza
New York, NY 10020, USA