================================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 9)
-----------------------
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)
-----------------------
June 23, 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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2
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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
PERSON
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
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)
66.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
00 (real estate investment trust)
--------------------------------------------------------------------------------
3
--------------------------------------------------------------------------------
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
PERSON
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
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)
66.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
00 (limited liability company)
--------------------------------------------------------------------------------
4
--------------------------------------------------------------------------------
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
PERSON
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
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)
66.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
5
--------------------------------------------------------------------------------
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
PERSON
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
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)
66.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN (limited partnership)
--------------------------------------------------------------------------------
6
--------------------------------------------------------------------------------
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
PERSON
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
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)
66.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN (limited partnership)
--------------------------------------------------------------------------------
7
--------------------------------------------------------------------------------
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
PERSON
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
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)
66.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN (limited partnership)
--------------------------------------------------------------------------------
8
--------------------------------------------------------------------------------
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
PERSON
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
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)
66.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
00 (limited liability company)
--------------------------------------------------------------------------------
9
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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
PERSON
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
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)
66.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO (limited liability company)
--------------------------------------------------------------------------------
10
This Amendment No. 9, dated June 23, 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.
No change.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 is hereby amended and supplemented by the addition of
the following:
Source of funding for the Merger (as defined in Item 4 below)
is described in Item 4 below.
ITEM 4. PURPOSE OF TRANSACTION.
Item 4 is hereby amended and supplemented by the addition of
the following information:
On June 23, 2002, PSCO Acquisition Corp., a Maryland
corporation ("Merger Sub"), and the Company entered into an Agreement and Plan
of Merger, dated as of June 23, 2002 (the "Merger Agreement"), a copy of which
is attached as an exhibit hereto and incorporated herein by reference. Merger
Sub is a newly formed corporation, the stockholders of which are the Trust and
Kimkon Inc., a Delaware corporation ("KI"). KI is a newly formed indirect
wholly-owned subsidiary of Kimco Realty Corporation, a Maryland corporation
("Kimco"). Pursuant to the Merger Agreement, on the terms and subject to the
conditions set forth therein, Merger Sub will merge (the "Merger") with and into
the Company, with the Company as the surviving entity (the "Surviving
Corporation"). In the Merger, holders of the Company's common stock will receive
$2.10 per share ("Cash Price") in cash in exchange for their shares of common
stock in the Company; PROVIDED, that, only 4,436,709 shares of the Company's
common stock held by the Trust will be converted into the right to receive the
Cash Price, with the
11
remainder of the common stock held by the Trust to be contributed to Merger Sub
immediately prior to the Merger (in exchange for an additional ownership
interest in Merger Sub) and then canceled in the Merger. The holders of the
Company's Series A Convertible Preferred Stock will be entitled to elect to
receive either (x) a newly created preferred security designated "Series A
Convertible Preferred Stock" representing a continuing interest in the Surviving
Corporation following the Merger 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 Convertible Preferred Stock. The preferences, conversion or
other rights, voting powers, restrictions, limitations as to dividends, and
other terms and conditions of the newly created Series A Convertible Preferred
Stock issuable in the Merger are set forth in the form of charter of the
Surviving Corporation of the Merger (the "Form of Charter"), a copy of which is
attached as an exhibit hereto and incorporated herein by reference.
In connection with the Merger Agreement, on June 23, 2002,
Merger Sub, the Trust, LFSRI II, Alternative, CADIM, KI, and Kimco, entered into
a Co-Investment Agreement, dated as of June 23, 2002 (the "Co-Investment
Agreement"), a copy of which is attached as an exhibit hereto and incorporated
herein by reference. Pursuant to the Co-Investment Agreement, on the terms and
subject to the conditions set forth therein, (x) the Trust has agreed to
contribute to Merger Sub immediately prior to the consummation of the Merger (i)
16,615,922 of the shares of the Company's common stock held by the Trust (the
"Contributed Shares") and (ii) all of the Trust's rights and obligations under
the Contingent Value Right Agreement, dated as of February 24, 1998, by and
between the Company and the Trust (as assignee of Prometheus), and (y) Kimco has
agreed to contribute to Merger Sub immediately prior to the consummation of the
Merger cash in the amount of $ 35,554,438.50 (subject to adjustment). The
Company is a third-party beneficiary of certain obligations, representations and
warranties of the Trust, LFSRI II, Alternative, CADIM, KI and Kimco under the
Co-Investment Agreement.
KI's cash contribution to Merger Sub, together with other
funds of the Company and its subsidiaries, will be used to pay the aggregate
consideration payable in connection with the Merger to holders of the Company's
common stock (other than Merger Sub as more fully described in Item 6 below) and
those holders of the Company Series A Convertible Preferred Stock that elect to
receive the cash consideration in the Merger.
In connection with the Merger, the directors and officers of
the Company will change, and upon consummation of the Merger, representatives of
the Trust and Kimco will serve as directors and officers of the Surviving
Corporation. Upon consummation of the Merger, the charter of the Company will be
amended to be substantially identical to the Form of Charter (a copy of which is
attached as an exhibit hereto and incorporated herein by reference), and the
bylaws of the Company will be amended to be substantially identical to the
bylaws of Merger Sub in effect immediately prior to the effective time of the
Merger.
As soon as practicable after completion of the Merger, the
Trust and Kimco will seek to cause the Surviving Corporation to delist its
common stock from the New York Stock Exchange, and terminate registration of its
stock under the Securities Exchange Act of 1934, as amended.
12
The information set forth in response to this Item 4 is
qualified in its entirety by reference to the full text of the Merger Agreement,
the Form of Charter and the Co-Investment Agreement, which are each filed as
exhibits hereto and incorporated herein by reference.
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.
Item 6 is hereby amended and supplemented by the addition of
the following:
As described in Item 4 above, pursuant to the Co-Investment
Agreement, on the terms and subject to the conditions set forth therein, the
Trust agreed to contribute to Merger Sub immediately prior to the consummation
of the Merger (i) the Contributed Shares and (ii) all of the Trust's rights and
obligations under the CVR Agreement. Pursuant to the Merger Agreement, the
shares of the Company's common stock that will be owned by Merger Sub
immediately prior to the consummation of the Merger will be canceled in the
Merger.
In connection with the Merger Agreement, on June 23, 2002, the
Trust, KI and the Company entered into a Voting Agreement, dated as of June 23,
2002 (the "Voting Agreement"), a copy of which is attached as an exhibit hereto
and incorporated herein by reference. Pursuant to the Voting Agreement, on the
terms and subject to the conditions set forth therein, the Trust agreed that at
any meeting of stockholders of the Company, or in connection with any vote or
consent of the stockholders of the Company, the purpose of which is to approve
the Merger, the Trust will vote all of the shares of the Company's common stock
beneficially owned by it in favor of the approval and adoption of the Merger and
against any action or agreement that would compete with, impede or interfere
with the adoption of the Merger Agreement and the timely consummation of the
Merger. The Voting Agreement terminates upon the earlier of (a) the day on which
the Merger Agreement is terminated in accordance with its terms, and (b) the
effective time of the Merger.
In addition, at the request of the Special Committee, in
connection with the Merger Agreement, on June 23, 2002, the Trust and the
Company entered into a Supplemental Voting and Tender Agreement, dated as of
June 23, 2002 (the "Supplemental Voting and Tender Agreement"), a copy of which
is attached as an exhibit hereto and incorporated herein by reference. Pursuant
to the Supplemental Voting and Tender Agreement, on the terms and subject to the
conditions set forth therein, the Trust agreed that, at any meeting of
stockholders of the Company, or in connection with any vote or consent of the
stockholders of the Company, the purpose of which is to approve a
13
Superior Transaction (as defined in the Supplemental Voting and Tender
Agreement), the Trust will vote all of the shares of the Company's common stock
beneficially owned by it in favor of the approval and adoption of the Superior
Transaction, and if the Superior Transaction consists of a tender offer, the
Trust will tender its shares in connection with such tender offer
The information set forth in response to this Item 6 is
qualified in its entirety by reference to the full text of the Co-Investment
Agreement, the Voting Agreement and the Supplemental Voting and Tender
Agreement, which are each filed as exhibits hereto and incorporated by
reference.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
1. Agreement and Plan of Merger, dated as of June 23, 2002, by and between
PSCO Acquisition Corp., and Konover Property Trust, Inc.
2. Form of Charter of the Surviving Corporation.
3. Co-Investment Agreement, dated as of June 23, 2002, by and among
Prometheus Southeast Retail Trust, Kimkon Inc., PSCO Acquisition Corp.,
LF Strategic Realty Investors II L.P., LFSRI II Alternative Partnership
L.P., and LFSRI II-CADIM Alternative Partnership L.P.
4. Voting Agreement, dated as of June 23, 2002, by and among Prometheus
Southeast Retail Trust, Konover Property Trust, Inc., and Kimkon Inc.
5. Supplemental Voting and Tender Agreement, dated as of June 23, 2002, by
and among Prometheus Southeast Retail Trust and Konover Property Trust,
Inc.
14
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 June 23, 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
15
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