SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(Amendment No. 7)
Under the Securities Exchange Act of 1934
Capital Trust, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Class A Common Stock, par value $0.01 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
14052H100
--------------------------------------------------------------------------------
(CUSIP Number)
Michael L. Zuppone, Esq.
Paul, Hastings, Janofsky & Walker LLP
399 Park Avenue
New York, New York 10022
(212) 318-6906
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
January 7, 2001
---------------------------------------------------------
(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 that 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
|_|.
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).
SCHEDULE 13D
---------------------- ----------------------
CUSIP No. 14052H100 Page 2 of 17 Pages
---------------------- ----------------------
--------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Veqtor Finance Company, L.L.C.
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
2 (B) |_|
--------------------------------------------------------------------------------
SEC USE ONLY
3
--------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF, BK
--------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
5
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
--------------------------------------------------------------------------------
NUMBER OF
SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 3,192,288
EACH
REPORTING -----------------------------------------------------------------
PERSON
WITH 8 SHARED VOTING POWER
0
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
3,192,288
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,192,288
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
12
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 17.05%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14 OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- ----------------------
CUSIP No. 14052H100 Page 3 of 17 Pages
---------------------- ----------------------
--------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Zell General Partnership, Inc.
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
2 (B) |_|
--------------------------------------------------------------------------------
SEC USE ONLY
3
--------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF, BK
--------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
5
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Illinois
--------------------------------------------------------------------------------
NUMBER OF
SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 3,267,288
EACH
REPORTING -----------------------------------------------------------------
PERSON
WITH 8 SHARED VOTING POWER
0
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
3,267,288
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,267,288
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
12
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 17.45%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14 CO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- ----------------------
CUSIP No. 14052H100 Page 4 of 17 Pages
---------------------- ----------------------
--------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sam Investment Trust
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
2 (B) |_|
--------------------------------------------------------------------------------
SEC USE ONLY
3
--------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF, BK
--------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
5
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Illinois
--------------------------------------------------------------------------------
NUMBER OF
SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 3,267,288
EACH
REPORTING -----------------------------------------------------------------
PERSON
WITH 8 SHARED VOTING POWER
0
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
3,267,288
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,267,288
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
12
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 17.45%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14 OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- ----------------------
CUSIP No. 14052H100 Page 5 of 17 Pages
---------------------- ----------------------
--------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Chai Trust Company, L.L.C.
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
2 (B) |_|
--------------------------------------------------------------------------------
SEC USE ONLY
3
--------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF, BK
--------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
5
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Illinois
--------------------------------------------------------------------------------
NUMBER OF
SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 3,267,288
EACH
REPORTING -----------------------------------------------------------------
PERSON
WITH 8 SHARED VOTING POWER
0
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
3,267,288
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,267,288
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
12
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 17.45%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14 OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- ----------------------
CUSIP No. 14052H100 Page 6 of 17 Pages
---------------------- ----------------------
--------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SZ Investments, LLC
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
2 (B) |_|
--------------------------------------------------------------------------------
SEC USE ONLY
3
--------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF, BK
--------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
5
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
--------------------------------------------------------------------------------
NUMBER OF
SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 75,000
EACH
REPORTING -----------------------------------------------------------------
PERSON
WITH 8 SHARED VOTING POWER
0
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
75,000
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
75,000
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
12
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 0.40%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14 OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- ----------------------
CUSIP No. 14052H100 Page 7 of 17 Pages
---------------------- ----------------------
--------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Samstock, L.L.C.
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
2 (B) |_|
--------------------------------------------------------------------------------
SEC USE ONLY
3
--------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF, WC
--------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
5
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
--------------------------------------------------------------------------------
NUMBER OF
SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 75,000
EACH
REPORTING -----------------------------------------------------------------
PERSON
WITH 8 SHARED VOTING POWER
0
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
75,000
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
75,000
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
12
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 0.40%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14 OO
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- ----------------------
CUSIP No. 14052H100 Page 8 of 17 Pages
---------------------- ----------------------
--------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CMH Investment Partnership LP
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
2 (B) |_|
--------------------------------------------------------------------------------
SEC USE ONLY
3
--------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF, BK
--------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
5
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
--------------------------------------------------------------------------------
NUMBER OF
SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 2,330,132
EACH
REPORTING -----------------------------------------------------------------
PERSON
WITH 8 SHARED VOTING POWER
0
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
2,330,132
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,330,132
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
12
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 12.44%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14 PN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- ----------------------
CUSIP No. 14052H100 Page 9 of 17 Pages
---------------------- ----------------------
--------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Craig M. Hatkoff
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
2 (B) |_|
--------------------------------------------------------------------------------
SEC USE ONLY
3
--------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF, BK
--------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
5
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States of America
--------------------------------------------------------------------------------
NUMBER OF
SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 2,494,164
EACH
REPORTING -----------------------------------------------------------------
PERSON
WITH 8 SHARED VOTING POWER
0
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
2,494,164
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,494,164
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
12
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 13.22%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14 IN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- ----------------------
CUSIP No. 14052H100 Page 10 of 17 Pages
---------------------- ----------------------
--------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JRK Investment Partnership LP
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
2 (B) |_|
--------------------------------------------------------------------------------
SEC USE ONLY
3
--------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF, BK
--------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
5
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
--------------------------------------------------------------------------------
NUMBER OF
SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 2,330,132
EACH
REPORTING -----------------------------------------------------------------
PERSON
WITH 8 SHARED VOTING POWER
0
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
2,330,132
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,330,132
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
12
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 12.44%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14 PN
--------------------------------------------------------------------------------
SCHEDULE 13D
---------------------- ----------------------
CUSIP No. 14052H100 Page 11 of 17 Pages
---------------------- ----------------------
--------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John R. Klopp
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
2 (B) |_|
--------------------------------------------------------------------------------
SEC USE ONLY
3
--------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF, BK
--------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
5
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States of America
--------------------------------------------------------------------------------
NUMBER OF
SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 2,637,355
EACH
REPORTING -----------------------------------------------------------------
PERSON
WITH 8 SHARED VOTING POWER
0
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
2,637,355
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,637,355
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
12
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 13.93%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14 IN
--------------------------------------------------------------------------------
---------------------- ----------------------
CUSIP No. 14052H100 Page 12 of 17 Pages
---------------------- ----------------------
This Amendment No. 7 to Schedule 13D is filed by the Reporting Persons
(as defined below) pursuant to rule 13d-2(a) under the Securities Exchange Act
of 1934, as amended. This Amendment No. 7 to Schedule 13D amends and
supplements:
o the Schedule 13D, dated July 15, 1997, as filed with the
Securities and Exchange Commission (the "SEC") on July 25, 1997,
as amended by
o Amendment No. 1, as filed with the SEC on December 22, 1997, as
amended by
o Amendment No. 2, as filed with the SEC on July 2, 1998, as
amended by
o Amendment No. 3, as filed with the SEC on August 19, 1999, as
amended by
o Amendment No. 4, as filed with the SEC on September 30, 1999, as
amended by
o Amendment No. 5, as filed with the SEC on February 2, 2000, as
amended by
o Amendment No. 6, as filed with the SEC on May 23, 2000 (together
with the original Schedule as previously amended, the "Schedule
13D").
The Reporting Persons are:
(i) Veqtor Finance Company, L.L.C., a Delaware limited liability
company ("VFC");
(ii) Samstock, L.L.C, a Delaware limited liability company
("Samstock");
(iii) SZ Investments, LLC, a Delaware limited liability company and
the sole member of Samstock ("SZI");
(iv) Zell General Partnership, Inc., an Illinois corporation and
the sole managing member of SZI and the sole managing member
of VFC ("Zell GP");
(v) the Sam Investment Trust, a trust formed under Illinois law
and the sole stockholder of Zell GP ("Sam Trust");
(vi) Chai Trust Company, L.L.C., an Illinois limited liability
company and the trustee of Sam Trust ("Chai")
(vii) CMH Investment Partnership LP, a Delaware limited partnership
("Hatkoff LP")
---------------------- ----------------------
CUSIP No. 14052H100 Page 13 of 17 Pages
---------------------- ----------------------
(viii) Mr. Craig M. Hatkoff, a citizen of the United States and the
general partner of Hatkoff LP ("Hatkoff");
(ix) JRK Investment Partnership LP, a Delaware limited partnership
("Klopp LP"); and
(x) Mr. John R. Klopp, a citizen of the United States and the
general partner of Klopp LP ("Klopp" and, collectively with
VFC, Samstock, SZI, Zell GP, Sam Trust, Chai, Hatkoff LP,
Hatkoff and Klopp LP, the "Reporting Persons").
The original schedule reported beneficial ownership of class A common
shares of beneficial interest, $1.00 par value (the "Class A Common Shares"), in
Capital Trust, a California business trust. As reported in Amendment No. 3 to
schedule 13D, Capital Trust has been reorganized into Capital Trust, Inc., a
Maryland corporation and each Class A Common Share has been converted into one
share of class A common stock, par value $0.01 per share, of Capital Trust, Inc.
This statement therefore now relates to the shares of class A common stock, par
value $0.01 per share ("Class A Common Stock"), of Capital Trust, Inc.
(hereinafter the "Issuer"), whose principal office is located at 410 Park
Avenue, 14th Floor, New York, New York 10022. All capitalized terms not
otherwise defined herein shall have the meanings ascribed thereto in the
Schedule 13D.
Item 5. Interest in Securities of the Issuer.
------------------------------------
Item 5 is amended as follows:
(a) and (b) The aggregate percentage of shares of Class A Common Stock
reported beneficially owned by the Reporting Persons as of the date of filing of
this Amendment No. 7 to the Schedule 13D is based upon 18,727,731 shares of
Class A Common Stock issued and outstanding as of August 13, 2001 as reported in
the Issuer's report on Form 10-Q for the fiscal year ended on June 30, 2001, as
filed on August 14, 2001. The Reporting Persons as a group beneficially own
8,398,807 shares of Class A Common Stock, including (i) 8,044,441 outstanding
shares of Class A Common Stock; and (ii) 354,366 shares of stock issuable upon
exercise or conversion of outstanding stock options and stock units. The
foregoing shares represent approximately 44.01% of the outstanding shares of
Class A Common Stock (calculated in accordance with Rule 13d-3(d)(1)).
VFC holds of record and thereby directly beneficially owns and has the
sole direct power to vote and dispose of 3,192,288 outstanding shares of Class A
Common Stock (the "VFC Reported Shares"). Chai, Sam Trust and Zell GP each have
the sole indirect power to vote and dispose of the VFC Reported Shares. Samstock
directly beneficially owns and has the sole direct power to vote and dispose of
75,000 shares of Class A Common Stock ("Samstock Reported Shares"). Chai, Sam
Trust, Zell GP and SZI each have the sole indirect power to vote and dispose of
the Samstock Reported Shares. Hatkoff LP holds of record and thereby directly
beneficially owns and has the sole power to vote and dispose of 2,330,132
outstanding shares of Class A Common Stock (the "Hatkoff LP Reported Shares").
Hatkoff has the sole indirect power to vote or dispose of the Hatkoff LP
Reported Shares. Hatkoff beneficially owns and has
---------------------- ----------------------
CUSIP No. 14052H100 Page 14 of 17 Pages
---------------------- ----------------------
the sole power to vote and dispose of 18,000 outstanding shares of Class A
Common Stock. Hatkoff beneficially owns and will have the sole power to vote and
dispose of 146,032 shares of Class A Common Stock issuable upon the exercise of
options to purchase and stock units to obtain shares of Class A Common Stock
that are, or become within 60 days, vested and exercisable. Klopp LP holds of
record and thereby directly beneficially owns and has the sole power to vote and
dispose of 2,330,132 outstanding shares of Class A Common Stock (the "Klopp LP
Reported Shares"). Klopp has the sole indirect power to vote or dispose of the
Klopp LP Reported Shares. Klopp beneficially owns and has the sole power to vote
and dispose of 10,000 outstanding shares of Class A Common Stock. Klopp holds of
record and thereby directly beneficially owns and has the sole power to vote
88,889 outstanding shares of Class A Common Stock subject to a restricted stock
grant. Klopp beneficially owns and will have the sole power to vote and dispose
of 208,334 shares of Class A Common Stock issuable upon the exercise of options
to purchase shares of Class A Common Stock that are, or become within 60 days,
vested and exercisable.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of Issuer.
---------------------------------------------------------------------
Item 6 is amended and supplemented by adding the following:
On March 8, 2000, pursuant to the Venture Agreement, the Issuer issued a
stock purchase warrant to purchase 4,250,000 shares of Class A Common Stock
which was ultimately transferred to Limited REMI I (the "Limited REMI I
Warrant"). In addition, on April 9, 2001, May 29, 2001 and August 7, 2001,
pursuant to the Venture Agreement, the Issuer issued stock purchase warrants to
purchase, in the aggregate, 4,278,467 shares of Class A Common Stock which were
ultimately transferred to General REMI II (the "General REMI II Warrants" and,
together with the Limited REMI I Warrant, the "Warrants"). The Warrants were
issued in connection with the organization and capitalization of CT Mezzanine
Partners I LLC and CT Mezzanine Partners II LP ("Fund"), the first two Mezzanine
Funds sponsored pursuant to the Venture Agreement.
As described in Item 6 to Amendment No. 6 to Schedule 13D, (a) each of
(i) VFC, (ii) Samstock, (iii) Klopp and Klopp LP and (iv) Hatkoff and Hatkoff LP
separately entered into a stockholder approval agreement with General REMI II
governing the voting of Class A Common Stock held by each such Reporting Person
signatory thereto and (b) VFC, Samstock, Klopp, Klopp LP, Hatkoff and Hatkoff LP
entered into a single stockholder voting and lock-up agreement with General REMI
II governing the voting and disposal of Class A Common Stock held by each such
Reporting Person signatory thereto. General REMI II and certain of its
affiliates, including Limited REMI I, controlling or under common control with
General REMI II reported aggregate beneficial ownership of 8,528,467 shares of
Class A Common Stock issuable upon the exercise of the currently exercisable
Warrants. Such shares represent 31.3% of the outstanding shares of Class A
Common Stock (calculated in accordance with Rule 13d-3(d)(1)). The Reporting
Persons disclaim beneficial ownership of any shares of Class A Common Stock
beneficially owned by General REMI II and its affiliates. General REMI II and
its affiliates have disclaimed beneficial ownership of any shares of Class A
Common Stock held by the Reporting Persons.
---------------------- ----------------------
CUSIP No. 14052H100 Page 15 of 17 Pages
---------------------- ----------------------
On July 31, 2001, General REMI II granted Hatkoff and Hatkoff LP a
waiver of the lock-up provisions of the stockholder voting and lock-up agreement
to which they were a party with General REMI II (the "Waiver") and Hatkoff and
Hatkoff LP entered into an agreement with General REMI II and CT-F2-GP pursuant
to which it was agreed that Hatkoff shall be deemed to have resigned from the
management committee of the general partner of the Fund II upon the sale or
transfer of shares of Class A Common Stock by Hatkoff and Hatkoff in excess of
what would otherwise be permitted if the foregoing lock-up restrictions remained
in full force and effect (the "Agreement"). A copy of the Waiver and the
Agreement are attached hereto as Exhibits 1 and 2 respectively, and are
incorporated herein by reference.
On December 29, 2000, unvested stock options to purchase an aggregate of
133,333 shares of Class A Common Stock were terminated in accordance with the
Issuer's incentive stock plan upon Hatkoff's resignation as an officer and
employee of the Issuer.
On February 1, 2001, pursuant to the Issuer's incentive stock plan,
Klopp was granted a stock option to purchase 100,000 shares of Class A Common
Stock which vests and becomes exercisable in equal one third increments on the
first, second and third anniversaries of the grant date. On February 1, 2001,
pursuant to the Issuer's incentive stock plan, Klopp was granted a restricted
stock award of 88,889 shares of Class A Common Stock which vests in equal one
third increments on the first, second and third anniversaries of the date of
grant. On March 31, 2001, June 30, 2001 and September 30, 2001, pursuant to the
Issuer's incentive stock plan, Hatkoff was granted stock units which are
immediately vested and convertible into 1,709, 1,404 and 1,252 shares of Class A
Common Stock, respectively.
To the best of knowledge of the Reporting Person, except as described in
this amendment and supplement to Item 6, none of the Reporting Persons has
effected any transactions in the Class A Common Stock during the period which
commenced sixty days prior to the date of the event which triggered the filing
of this Amendment No. 7 to Schedule 13D and ends on the date of the filing of
this Amendment No. 7 to Schedule 13D.
Item 7. Materials to be Filed as Exhibits.
---------------------------------
------------------------------------------------------------------------
Exhibit No. Description
------------------------------------------------------------------------
1. Waiver Letter, dated as of July 31, 2001, by
Travelers General Real Estate Mezzanine Investments
II, LLC, as agreed and acknowledged by Craig M.
Hatkoff and CMH Investment Partnership LP.
------------------------------------------------------------------------
2. Agreement, dated as of July 31, 2001, by and among
Travelers General Real Estate Mezzanine Investments
II, LLC, CT-F2-GP, LLC, Craig M. Hatkoff and CMH
Investment Partnership LP.
------------------------------------------------------------------------
[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief,
each of the undersigned certifies that the information set forth in this
statement is true, complete and correct and agrees that this statement may be
filed jointly with the other undersigned parties.
Veqtor Finance Company, L.L.C.
By: Zell General Partnership, Inc.,
its managing member
By:/s/ Donald J. Liebentritt
-------------------------
Name:
Title:
Samstock, L.L.C.
By:/s/ Donald J. Liebentritt
-------------------------
Name:
Title:
SZ Investments, LLC
By:/s/ Donald J. Liebentritt
-------------------------
Name:
Title:
Zell General Partnership, Inc.
By:/s/ Donald J. Liebentritt
-------------------------
Name:
Title:
Sam Investment Trust
By: Chai Trust Company, L.L.C.,
trustee
By:/s/ Donald J. Liebentritt
-------------------------
Name: Donald J. Liebentritt
Title: Vice President
Chai Trust Company, L.L.C.
By:/s/ Donald J. Liebentritt
-------------------------
Name: Donald J. Liebentritt
Title: Vice President
CMH Investment Partnership LP
By: Craig M. Hatkoff, its general
partner
/s/ Craig M. Hatkoff
-----------------------------
Name:
Title:
CRAIG M. HATKOFF
/s/ Craig M. Hatkoff
--------------------------------
JRK Investment Partnership LP
By: John R. Klopp, its general
partner
/s/ John R. Klopp
-----------------------------
JOHN R. KLOPP
/s/ John R. Klopp
--------------------------------
Exhibit No. 1
WAIVER
Mr. Craig M. Hatkoff
One West 72nd Street, Apt. 84
New York, New York 10023
CMH Investment Partnership LP
c/o Mr. Craig M. Hatkoff
One West 72nd Street, Apt. 84
New York, New York 10023
Attn: Craig M. Hatkoff
Dear Mr. Hatkoff:
This letter serves to confirm the agreement of Travelers General Real
Estate Mezzanine Investments II, LLC, a Delaware limited liability company
("General REMI II ") with you regarding that certain stockholder voting and
lock-up agreement, dated as of March 8, 2000, by and among you, General REMI II,
and the other holders of capital stock of Capital Trust, Inc., a Maryland
corporation ("CT"), signatory thereto (the "Lock-Up Agreement").
You have informed General REMI II that you wish to be released from
your obligations under Section 4 of the Lock-Up Agreement which operates to
restrict your ability to transfer CT capital stock owned by you.
This will confirm that General REMI II hereby waives it rights under
and releases and forever discharges you from all obligations and liabilities,
existing and/or arising, directly or indirectly, out of, Section 4 of the
Lock-Up Agreement, provided that, you shall have first entered in that certain
agreement with CT-F2-GP LLC, a Delaware limited liability company and wholly
owned subsidiary of CT, and General REMI II in the form attached hereto as
Exhibit A, whereupon the foregoing waiver shall be in full force and effect.
Except as expressly waived hereby, each and every term, covenant and
condition of the Lock-Up Agreement shall continue in full force and effect.
This waiver shall be construed in accordance with and governed by the
laws of the State of New York, without giving effect to the provisions, policies
or principles thereof relating to choice or conflict of laws.
General REMI II has duly executed this waiver as of July 31, 2001.
Travelers General Real Estate Mezzanine
Investments II, LLC
By:/s/ Michael Watson
--------------------------------
Name: Michael Watson
Title: Vice President
Agreed and Acknowledged
/s/ Craig M. Hatkoff
----------------------
Craig M. Hatkoff
CMH Investment Partnership LP
By:/s/ Craig M. Hatkoff
---------------------
Name: Craig M. Hatkoff
Title: General Partner
Exhibit No. 2
AGREEMENT
This Agreement (this "Agreement") is entered into this 31st day of
July, 2001, by and among Travelers General Real Estate Mezzanine Investments II,
LLC, a Delaware limited liability company ("General REMI II"), CT-F2-GP, LLC, a
Delaware limited liability company ("CT-F2"), CMH Investment Partnership LP, a
Delaware limited partnership ("CMH"), and Craig M. Hatkoff, an individual
("Hatkoff").
WHEREAS, General REMI II, CMH, Hatkoff and certain other holders of
shares of class A common stock, par value $.01 per share ("CT Common Stock"), of
Capital Trust, Inc., a Maryland corporation ("CT"), signatory thereto, entered
into that certain stockholder voting and lock-up agreement, dated as of March 8,
2000 ( the "Lock-Up Agreement"), pursuant to which, among other things, CMH and
Hatkoff agreed to the imposition of certain restrictions upon their ability to
transfer their respective shares of CT Common Stock;
WHEREAS, General REMI II and CT-F2 entered into an amended and restated
limited liability company agreement of CT MP II LLC, effective as of March 30,
2001, which amended and restated the original limited liability company
agreement of CT MP II LLC, dated as of March 8, 2000, by and between the General
REMI II and CT-F2 (the "LLC Agreement"); pursuant to which, among other things,
CT-F2 designated Hatkoff as one of its two representatives on the Management
Committee (as defined in the LLC Agreement) of CT MP II LLC;
WHEREAS, General REMI II, simultaneously herewith has executed and
delivered to CMH and Hatkoff a written waiver (the "Waiver"), pursuant to which
CMH and Hatkoff will be released of their respective obligations under Section 4
of the Lock-Up Agreement on the condition that CMH and Hatkoff shall have first
entered into this Agreement.
NOW, THEREFORE, in consideration of the agreements and obligations set
forth herein, and for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby agree as
follows:
1. If at any time, CMH and Hatkoff, individually or together in the
aggregate, shall sell or transfer a number of shares of CT Common Stock in
excess of the numbers of shares that they would otherwise be permitted to
transfer or sell pursuant to Section 4(b) of the Lock-Up Agreement assuming
Section 4 of the Lock-Up Agreement remained in full force and effect, then
General REMI II may in its discretion elect to have Hatkoff resign or be
terminated from his position as a member of the Management Committee (the
"Removal Election"). If General REMI II shall make the Removal Election, it
shall so notify Hatkoff and CT-F2 in writing. Upon receipt of the foregoing
notice, Hatkoff shall be deemed to have resigned from his position as a member
of the Management Committee without any further action on his part or any other
person and
CT-F2 shall thereafter be prohibited from designating Hatkoff as a
representative of CT-F2 to serve on the Management Committee.
2. Subject to Section 1 above, CT-F2 shall retain its right under
Section 5.2(b) of the LLC Agreement to designate two (2) representatives to
serve on the Management Committee without restriction hereunder.
3. Nothing herein shall be held to alter, vary or otherwise affect the
terms, conditions and provisions of the LLC Agreement, the Lock-Up Agreement and
the Waiver, other than as contemplated herein.
4. This Agreement shall be effective as of the date hereof.
5. This Agreement shall be construed in accordance with and governed by
the laws of the State of New York, without giving effect to the provisions,
policies or principles thereof relating to choice or conflict of laws.
6. This Agreement may be executed in one or more counterparts, each of
which shall be deemed an original and all of which together shall constitute one
and the same instrument.
[Signature Page Follows]
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first stated above.
Travelers General Real Estate Mezzanine
Investments II, LLC
By:/s/ Michael Watson
--------------------------------
Name: Michael Watson
Title: Vice President
CT-F2-GP, LLC
By:/s/ Edward L. Shugrue III
--------------------------------
Name: Edward L. Shugrue III
Title: Chief Financial Officer and
Treasurer
CMH Investment Partnership LP
By:/s/ Craig M. Hatkoff
--------------------------------
Name: Craig M. Hatkoff
Title: General Partner
/s/ Craig M. Hatkoff
------------------------------
CRAIG M. HATKOFF
3