SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 1
TO
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Rule 13d-101)
LNR PROPERTY CORPORATION
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.10 PER SHARE
(Title of Class of Securities)
501940100
(CUSIP Number)
DAVID W. BERNSTEIN, ESQ.
CLIFFORD CHANCE ROGERS & WELLS LLP
200 PARK AVENUE
NEW YORK, NEW YORK 10166
(212) 878-8000
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
JULY 28, 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), 13d-1(f) or 13d-1(g), check the following box
[ ].
Page 1 of 7
CUSIP No. 501940100 13D Page 2 of 7 Pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
MFA LIMITED PARTNERSHIP
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCES OF FUNDS
NOT APPLICABLE
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF
SHARES --------------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
8,188,830
OWNED BY --------------------------------------------------------------
9. SOLE DISPOSITIVE POWER
EACH
--------------------------------------------------------------
REPORTING 10. SHARED DISPOSITIVE POWER
PERSON WITH 8,188,830
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,188,830
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
24.8%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
Page 2 of 7
CUSIP No. 501940100 13D Page 3 of 7 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
LMM FAMILY CORP.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCES OF FUNDS
NOT APPLICABLE
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF
SHARES --------------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
8,188,830
OWNED BY --------------------------------------------------------------
9. SOLE DISPOSITIVE POWER
EACH
--------------------------------------------------------------
REPORTING 10. SHARED DISPOSITIVE POWER
PERSON WITH 8,188,830
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,188,830
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
24.8%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
Page 3 of 7
CUSIP No. 501940100 13D Page 4 of 7 Pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
MARITAL TRUST I CREATED UNDER AMENDED AND RESTATED REVOCABLE TRUST
AGREEMENT DATED JUNE 8, 2001
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCES OF FUNDS
NOT APPLICABLE
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
[ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF
SHARES --------------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
8,188,830
OWNED BY --------------------------------------------------------------
9. SOLE DISPOSITIVE POWER
EACH
--------------------------------------------------------------
REPORTING 10. SHARED DISPOSITIVE POWER
PERSON WITH 8,188,830
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,188,830
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
24.8%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
Page 4 of 7 Pages
This Amendment No. 1 amends and supplements the Schedule 13D filed with
the Securities and Exchange Commission on November 12, 1997 by MFA Limited
Partnership.
ITEM 2. IDENTITY AND BACKGROUND.
(a)-(c) The persons filing this Amendment are MFA Limited Partnership
(the "Partnership"), a Delaware limited partnership, LMM Family Corp. (the
"Corporation"), a Delaware corporation, which is the sole general partner of the
Partnership, and Marital Trust I ("Marital Trust I") created under the Leonard
Miller Amended and Restated Revocable Trust Agreement dated June 8, 2001 (the
"Leonard Miller Revocable Trust Agreement"), which owns all of the outstanding
voting stock of the Corporation. Stuart A. Miller is the trustee of Marital
Trust I. The principal offices of the Partnership, the Corporation and Marital
Trust I are located at 700 Northwest 107th Avenue, Miami, Florida, 33172.
(d)-(e) None of the Partnership, the Corporation or Marital Trust I,
nor any of the officers or directors of the Corporation or the Trustee of
Marital Trust I, has during the last five years (i) been convicted in a criminal
proceeding (excluding traffic violations and similar misdemeanors), or (ii) been
a party to a civil proceeding of a judicial or administrative body of competent
jurisdiction which resulted in it being subject to a judgment, decree or final
order enjoining future violations of, or which prohibited or mandated activities
subject to Federal or state securities laws or found any violation with respect
to such laws.
ITEM 5. INTEREST IN SECURITIES OF ISSUER.
(a)-(b) The Partnership is the beneficial owner of 8,188,830 shares of
Class B Common Stock of the Company, which may at any time be converted into
common stock of the Company at the rate of one share of common stock for each
share of Class B Common Stock that is converted. Prior to his death on July 28,
2002, Leonard Miller was the sole trustee of a revocable trust that was the sole
stockholder of the Corporation. Upon Leonard Miller's death, ownership of the
Corporation was transferred to Marital Trust I. As the sole general partner of
the Partnership, the Corporation has the power to cause the Partnership to vote,
or to dispose of, securities which it owns. As the sole holder of the voting
stock of the Corporation, Marital Trust I indirectly has the power to cause the
Partnership to vote, or to dispose of, securities which it owns. Therefore, for
purposes of Section 13 under the Securities Exchange Act of 1934, as amended,
each of the Partnership, the Corporation and Marital Trust I is the beneficial
owner, with shared voting and dispositive power, with regard to a total of
8,188,830 shares of common stock of the Company. Giving effect to the conversion
of all the 8,188,830 shares of Class B Common Stock into common stock, and based
upon the information as to outstanding shares contained in the Company's Report
on Form 10-Q for the period ended May 31, 2002, the shares of common stock of
which each of the Partnership, the Corporation and Marital Trust I is the
beneficial owner constitute 24.8% of the outstanding shares of common stock.
Each share of Class B Common Stock entitles the holder to cast 10
votes, while each share of common stock entitles the holder to cast one vote.
Therefore, the 8,188,830 shares of Class B Common Stock that the Partnership,
the Corporation and Marital Trust I have the power to vote entitle them to cast
a total of 81,888,300 votes, which is 66.72% of all the votes that may be cast
at a meeting of the Company's stockholders.
(c) During the past sixty days, none of the Partnership, the
Corporation or Marital Trust I effected any transactions in the Company's common
stock.
(d) Susan Miller, the wife of Leonard Miller, is the income
beneficiary, with limited rights to withdraw principal, of Marital Trust I and
of Marital Trust II created under the Leonard Miller Revocable Trust Agreement,
and is the settlor and income beneficiary of the Susan Miller Revocable Trust.
Marital
Page 5 of 7 Pages
Trust II and the Susan Miller Revocable Trust each owns directly or
indirectly limited partner interests in the Partnership.
Stuart Miller, Leslie Saiontz (Stuart Miller's sister) and Jeffrey
Miller (Stuart Miller's brother) and their living descendents are income
beneficiaries, with in some instances limited rights with regard to principal,
of trusts which own directly or indirectly limited partner interests in the
Partnership.
(e) Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit A - - Joint Filing Agreement dated August 7, 2002
Page 6 of 7 Pages
SIGNATURE
After reasonable inquiry and to the best of knowledge and belief, I certify that
the information set forth in this statement is true, complete and correct.
Dated: August 7, 2002
MARITAL TRUST I UNDER LEONARD MILLER
AMENDED AND RESTATED REVOCABLE TRUST
AGREEMENT DATED JUNE 8, 2001
By /s/ Stuart A. Miller
----------------------------------
Stuart A. Miller, Trustee
LMM FAMILY CORPORATION
By /s/ Stuart A. Miller
----------------------------------
Stuart A. Miller, President
MFA LIMITED PARTNERSHIP
By LMM FAMILY CORPORATION, General
Partner
By /s/ Stuart A. Miller
----------------------------------
Stuart A. Miller, President
Page 7 of 7 Pages