-----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, McUDeAAqeu5lDt3j8k4A43iGFkhqxO5BCeexTiTRl1CbhZDCoSoBL0qaHDa1vYKL Vz7zVClN2/nDF7erCcn95g== 0000905148-05-005093.txt : 20051012 0000905148-05-005093.hdr.sgml : 20051012 20051012160408 ACCESSION NUMBER: 0000905148-05-005093 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20051012 DATE AS OF CHANGE: 20051012 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BNP RESIDENTIAL PROPERTIES INC CENTRAL INDEX KEY: 0000812150 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 561574675 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-41962 FILM NUMBER: 051135113 BUSINESS ADDRESS: STREET 1: C/O BODDIE NOELL PROPERTIES INC STREET 2: 3850 ONE FIRST UNION CENTER CITY: CHARLOTTE STATE: NC ZIP: 28202 BUSINESS PHONE: 7049440100 MAIL ADDRESS: STREET 1: 3850 ONE FIRST UNION CENTER CITY: CHARLOTTE STATE: NC ZIP: 28202 FORMER COMPANY: FORMER CONFORMED NAME: BODDIE NOELL PROPERTIES INC DATE OF NAME CHANGE: 19941020 FORMER COMPANY: FORMER CONFORMED NAME: BODDIE NOELL RESTAURANT PROPERTIES INC DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CLIFFWOOD PARTNERS LLC CENTRAL INDEX KEY: 0001105623 IRS NUMBER: 954648555 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 11726 SAN VICENTE BLVD STREET 2: SUITE 600 CITY: LOS ANGELES STATE: CA ZIP: 90049 BUSINESS PHONE: 3104420370 MAIL ADDRESS: STREET 1: 11726 SAN VICENTE BLVD STREET 2: SUITE 600 CITY: LOS ANGELES STATE: CA ZIP: 90049 SC 13G 1 efc5-2155_5774853form13g.txt UNITED STATES SECURITIES EXCHANGE COMMISSION Washington, D.C. 20549 - -------------------------------------------------------------------------------- SCHEDULE 13G Under the Securities Exchange Act of 1934 BNP Residential Properties, Inc. -------------------------------- (Name of Issuer) Common Stock, par value $.01 per share -------------------------------------- (Title of Class of Securities) 05564T103 -------------- (CUSIP Number) October 4, 2005 --------------- (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X]____Rule 13d-1(b) [_]___Rule 13d-1(c) [_]___Rule 13d-1(d) * 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 the disclosures provided in a prior cover page. The information required in 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).
CUSIP No. 05564T103 ...................................................................................................................... 1. Names of Reporting Persons. Cliffwood Partners LLC I.R.S. Identification Nos. of above persons (entities only): 95-4648555 ...................................................................................................................... 2 Check the Appropriate Box if a Member of a Group (a) [X] (b) [ ] ...................................................................................................................... 3. SEC Use Only ...................................................................................................................... 4 Citizenship or Place of Organization Delaware, United States ...................................................................................................................... Number of Shares 5 Sole Voting Power None Beneficially Owned ............................................................................................... by Each Reporting 6. Shared Voting Power 552,900 Person With ............................................................................................... 7. Sole Dispositive Power None ............................................................................................... 8. Shared Dispositive Power 552,900 ...................................................................................................................... 9. Aggregate Amount Beneficially Owned by Each Reporting Person 552,900 ...................................................................................................................... 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] ...................................................................................................................... 11 Percent of Class Represented by Amount in Row (9) 6.0% ...................................................................................................................... 12. Type of Reporting Person IA ...................................................................................................................... 2 ...................................................................................................................... 1 Names of Reporting Persons. Cliffwood Value Equity Fund, L.P. I.R.S. Identification Nos. of above persons (entities only): 95-4817104 ...................................................................................................................... 2 Check the Appropriate Box if a Member of a Group (a) [X] (b) [ ] ...................................................................................................................... 3. SEC Use Only ...................................................................................................................... 4 Citizenship or Place of Organization Delaware, United States ...................................................................................................................... 5 Sole Voting Power None Number of Shares ............................................................................................... Beneficially Owned 6. Shared Voting Power 552,900 by Each Reporting ............................................................................................... Person With 7. Sole Dispositive Power None ............................................................................................... 8. Shared Dispositive Power 552,900 ...................................................................................................................... 9. Aggregate Amount Beneficially Owned by Each Reporting Person 552,900 ...................................................................................................................... 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] ...................................................................................................................... 11 Percent of Class Represented by Amount in Row (9) 6.0% ...................................................................................................................... 12. Type of Reporting Person PN 3 ...................................................................................................................... 1 Names of Reporting Persons. Cliffwood Value Equity Fund II, L.P. I.R.S. Identification Nos. of above persons (entities only): 57-1186067 ...................................................................................................................... 2 Check the Appropriate Box if a Member of a Group (a) [X] (b) [ ] ...................................................................................................................... 3. SEC Use Only ...................................................................................................................... 4 Citizenship or Place of Organization Delaware, United States ...................................................................................................................... 5 Sole Voting Power None Number of Shares ............................................................................................... Beneficially Owned 6. Shared Voting Power 552,900 by Each Reporting ............................................................................................... Person With 7. Sole Dispositive Power None ............................................................................................... 8. Shared Dispositive Power 552,900 ...................................................................................................................... 9. Aggregate Amount Beneficially Owned by Each Reporting Person 552,900 ...................................................................................................................... 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] ...................................................................................................................... 11 Percent of Class Represented by Amount in Row (9) 6.0% ...................................................................................................................... 12. Type of Reporting Person PN 4 ...................................................................................................................... 1 Names of Reporting Persons. Cliffwood Absolute Return Strategy Ltd. I.R.S. Identification Nos. of above persons (entities only): N/A ...................................................................................................................... 2 Check the Appropriate Box if a Member of a Group (a) [X] (b) [ ] ...................................................................................................................... 3. SEC Use Only ...................................................................................................................... 4 Citizenship or Place of Organization Cayman Islands, British West Indies ...................................................................................................................... 5 Sole Voting Power None Number of Shares ............................................................................................... Beneficially Owned 6. Shared Voting Power 552,900 by Each Reporting ............................................................................................... Person With 7. Sole Dispositive Power None ............................................................................................... 8. Shared Dispositive Power 552,900 ...................................................................................................................... 9. Aggregate Amount Beneficially Owned by Each Reporting Person 552,900 ...................................................................................................................... 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] ...................................................................................................................... 11 Percent of Class Represented by Amount in Row (9) 6.0% ...................................................................................................................... 12. Type of Reporting Person OO 5 ...................................................................................................................... 1 Names of Reporting Persons. Cliffwood Absolute Return Strategy, L.P. I.R.S. Identification Nos. of above persons (entities only): 95-4789951 ...................................................................................................................... 2 Check the Appropriate Box if a Member of a Group (a) [X] (b) [ ] ...................................................................................................................... 3. SEC Use Only ...................................................................................................................... 4 Citizenship or Place of Organization Delaware, United States ...................................................................................................................... 5 Sole Voting Power None Number of Shares ............................................................................................... Beneficially Owned 6. Shared Voting Power 552,900 by Each Reporting ............................................................................................... Person With 7. Sole Dispositive Power None ............................................................................................... 8. Shared Dispositive Power 552,900 ...................................................................................................................... 9. Aggregate Amount Beneficially Owned by Each Reporting Person 552,900 ...................................................................................................................... 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] ...................................................................................................................... 11 Percent of Class Represented by Amount in Row (9) 6.0% ...................................................................................................................... 12. Type of Reporting Person PN 6 ...................................................................................................................... 13 Names of Reporting Persons. Cliffwood Value Equity / WB Fund, L.P. I.R.S. Identification Nos. of above persons (entities only): 20-3036834 ...................................................................................................................... 14 Check the Appropriate Box if a Member of a Group (a) [X] (b) [ ] ...................................................................................................................... 15. SEC Use Only ...................................................................................................................... 16 Citizenship or Place of Organization Delaware, United States ...................................................................................................................... 17 Sole Voting Power None Number of Shares ............................................................................................... Beneficially Owned 18. Shared Voting Power 552,900 by Each Reporting ............................................................................................... Person With 19. Sole Dispositive Power None ............................................................................................... 20. Shared Dispositive Power 552,900 ...................................................................................................................... 21. Aggregate Amount Beneficially Owned by Each Reporting Person 552,900 ...................................................................................................................... 22. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] ...................................................................................................................... 23 Percent of Class Represented by Amount in Row (9) 6.0% ...................................................................................................................... 24. Type of Reporting Person PN
7
Item 1(a). Name of Issuer: BNP Residential Properties, Inc. Item 1(b). Address of Issuer's Principal Executive Offices: 301 S. College Street Suite 3850 Charlotte, NC 28202-6024 Item 2(a) Name of Person Filing Item 2(b) Address of Principal Business Office or, if None, Residence Item 2(c) Citizenship Cliffwood Partners LLC 11726 San Vicente Blvd. #600 Los Angeles, CA 90049 Delaware limited liability company Cliffwood Value Equity Fund, L.P. c/o Cliffwood Partners LLC 11726 San Vicente Blvd. #600 Los Angeles, CA 90049 Delaware limited partnership Cliffwood Value Equity Fund II, L.P. c/o Cliffwood Partners LLC 11726 San Vicente Blvd. #600 Los Angeles, CA 90049 Delaware limited partnership Cliffwood Absolute Return Strategy Ltd. c/o CITCO Fund Services (Cayman Islands) Limited P.O. Box 31106 SMB Regatta Office Park West Bay Road Grand Cayman, Cayman Islands Cayman Islands exempted company Cliffwood Absolute Return Strategy, L.P. c/o Cliffwood Partners LLC 11726 San Vicente Blvd. #600 Los Angeles, CA 90049 Delaware limited partnership Cliffwood Value Equity / WB Fund, L.P. c/o Cliffwood Partners LLC 11726 San Vicente Blvd. #600 Los Angeles, CA 90049 Delaware limited partnership 8 Item 2(d). Title of Class of Securities: Common Stock, par value $.01 per share Item 2(e). CUSIP Number: 05564T103 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) |_| Broker or dealer registered under Section 15 of the Exchange Act. (b) |_| Bank as defined in Section 3(a)(6) of the Exchange Act. (c) |_| Insurance company as defined in Section 3(a)(19) of the Exchange Act. (d) |_| Investment company registered under Section 8 of the Investment Company Act. (e) |X| An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) |_| An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) |_| A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) |_| A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) |_| A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; (j) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(J). Item 4. Ownership: Cliffwood Partners LLC Cliffwood Value Equity Fund, L.P. Cliffwood Value Equity Fund II, L.P. Cliffwood Absolute Return Strategy Ltd. Cliffwood Absolute Return Strategy, L.P. Cliffwood Value Equity / WB Fund, L.P. Oregon Public Employees' Retirement Fund Swarthmore College 1199 Health Care Employees' Pension Fund a. Amount beneficially owned: Cliffwood Value Equity Fund, L.P. beneficially owns 278,300 shares of common stock; Cliffwood Value Equity Fund II, L.P. beneficially owns 1,900 shares of common stock; Cliffwood Absolute Return Strategy Ltd. beneficially owns 12,600 shares of common stock; Cliffwood Absolute Return Strategy, L.P. beneficially owns 107,600 shares of common stock, Cliffwood Value Equity / WB Fund, L.P. beneficially owns 52,700 shares of common stock; Oregon Public Employees Retirement Fund beneficially owns 49,300 shares of common stock (through an account managed by Cliffwood Partners LLC); Swarthmore College beneficially owns 25,100 shares of common stock (through an account managed by Cliffwood Partners LLC); and 1199 Health Care Employees' Retirement Fund beneficially owns 25,400 shares of 9 common stock (through an account managed by Cliffwood Partners LLC) for an aggregate total of 552,900 shares of common stock. b. Percent of Class: 6.0% of the aggregate outstanding shares of that class as of July 29, 2005.
The sole power to vote or direct the vote of the entire shareholding and the sole power to dispose of or direct the disposal of the entire shareholding has been delegated to Cliffwood Partners LLC for each of Cliffwood Value Equity Fund, L.P., Cliffwood Value Equity Fund II, L.P., Cliffwood Absolute Return Strategy Ltd., Cliffwood Absolute Return Strategy, L.P., Cliffwood Value Equity / WB Fund L.P., Oregon Public Employees' Retirement Fund's managed account, Swarthmore College's managed account and 1199 Health Care Employees' Retirement Fund's managed account. Item 5. Ownership of Five Percent or Less of a Class: Not applicable Item 6. Ownership of More than Five Percent on Behalf of Another Person: Not applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company: Not applicable Item 8. Identification and Classification of Members of the Group: Not applicable Item 9. Notice of Dissolution of Group: Not applicable. Item 10. Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. 10 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. October 12, 2005 ----------------------- Date /s/ Carl B. Tash ----------------------- Carl B. Tash, CEO CLIFFWOOD PARTNERS LLC /s/ Carl B. Tash - ------------------------------------------------- Carl B. Tash, CEO CLIFFWOOD VALUE EQUITY FUND, L.P. By: Cliffwood Partners LLC, its general partner /s/ Carl B. Tash - ------------------------------------------------- Carl B. Tash, CEO CLIFFWOOD VALUE EQUITY FUND II, L.P. By: Cliffwood Partners LLC, its general partner /s/ Carl B. Tash - ------------------------------------------------- Carl B. Tash, CEO CLIFFWOOD ABSOLUTE RETURN STRATEGY LTD. By: Cliffwood Partners LLC, as investment manager /s/ Carl B. Tash - ------------------------------------------------- Carl B. Tash, CEO CLIFFWOOD ABSOLUTE RETURN STRATEGY, L.P. By: Cliffwood Partners LLC, its general partner /s/ Carl B. Tash - ------------------------------------------------- Carl B. Tash, CEO CLIFFWOOD VALUE EQUITY / WB FUND, L.P. By: Cliffwood Partners LLC, its general partner /s/ Carl B. Tash - ------------------------------------------------- Carl B. Tash, CEO 11 -----END PRIVACY-ENHANCED MESSAGE-----