SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
Rule 13d-101
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(a) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(AMENDMENT NO. 1)(1)
Ramco-Gershenson Properties Trust
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(Name of Issuer)
Common Shares of Beneficial Interest,
par value $0.01 per share
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(Title of Class of Securities)
75145220
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(CUSIP Number)
Christopher L. O'Dell
Morgan Stanley
1221 Avenue of the Americas
New York, New York 10020
(212) 761-4000
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
March 19, 2002
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(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
statement because of Rule 13d-1(e), 13d-1(f) or 13d-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-7 for other parties
to whom copies are to be sent.
(1) 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 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).
(continued on following pages)
(Page 1 of 21 Pages)
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CUSIP NO. 75145220 SCHEDULE 13D PAGE 2 OF 14
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Morgan Stanley Dean Witter & Co.
36-3145972
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)
N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
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7 SOLE VOTING POWER
0
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8 SHARED VOTING POWER
NUMBER OF
SHARES 1,721,686
BENEFICIALLY ----------------------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0
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10 SHARED DISPOSITIVE POWER
1,721,686
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,721,686
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
24.3%
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14 TYPE OF REPORTING PERSON*
CO, HC
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* See Instructions Before Filling Out!
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CUSIP NO. 75145220 SCHEDULE 13D PAGE 3 OF 14
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Morgan Stanley Investment Management Inc.
13-3040307
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION The state of organization is Delaware.
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7 SOLE VOTING POWER
0
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8 SHARED VOTING POWER
NUMBER OF
SHARES 954,610
BENEFICIALLY ----------------------------------------------------------------
WNED BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0
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10 SHARED DISPOSITIVE POWER
954,610
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
954,610
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.5%
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14 TYPE OF REPORTING PERSON*
IA, CO
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* See Instructions Before Filling Out!
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CUSIP NO. 75145220 SCHEDULE 13D PAGE 4 OF 14
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MS Real Estate Special Situations, Inc.
13-3962641
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
The state of organization is Delaware.
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7 SOLE VOTING POWER
0
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8 SHARED VOTING POWER
NUMBER OF
SHARES 767,076
BENEFICIALLY ----------------------------------------------------------------
WNED BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0
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10 SHARED DISPOSITIVE POWER
767,076
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
767,076
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.8%
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14 TYPE OF REPORTING PERSON*
IA, CO
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* See Instructions Before Filling Out!
ITEM 1. SECURITY AND ISSUER.
This Amendment No. 1 to Schedule 13D amends and supplements the Schedule
13D Statement dated November 13, 1998 which was filed with the Securities and
Exchange Commission ("SEC") on behalf of Morgan Stanley Dean Witter & Co.
("MSDW"), Morgan Stanley Asset Management Inc. (now known as Morgan Stanley
Investment Management Inc. or "MSIM") and The Morgan Stanley Real Estate Special
Situations Fund II, L.P., which is no longer a reporting person. This Amendment
No.1 reflects the transaction described in Item 4 below, as it relates to MSDW,
MSIM and MS Real Estate Special Situations, Inc. ("MSRESSI," and together with
MSDW and MSIM, the "Reporting Persons"), the investment adviser to certain
clients referred to in Item 4 below. Each capitalized term, not defined in this
amendment has the meaning assigned to such term as in the original Schedule 13D.
The class of equity securities to which this statement relates is the
common shares of beneficial interest, $.01 par value per share ("Common
Shares"), of Ramco-Gershenson Properties Trust, a Maryland real estate
investment trust (together with its predecessors, the "Issuer"). The principal
executive offices of the Issuer are located at 27600 Northwestern Highway, Suite
200, Southfield, Michigan.
ITEM 2. IDENTITY AND BACKGROUND
Item 2 is hereby amended and supplemented by adding the following:
(a) This Schedule 13D is being filed jointly on behalf of the following
persons (collectively, the "Reporting Persons"):
(1) Morgan Stanley Dean Witter & Co., a Delaware corporation;
(2) Morgan Stanley Investment Management Inc., a Delaware
corporation; and
(3) MS Real Estate Special Situations, Inc., a Delaware corporation.
(b) MS Real Estate Special Situations, Inc. is a Delaware corporation with
its principal business and offices located at 1585 Broadway, New York, New York,
10036.
(c) Set forth in Schedule A is the name, citizenship, business or
residence address and present principal occupation or employment, as well as the
name and address of any corporation or other organization in which such
occupation or employment is conducted, of each of the directors and executive
officers of MSDW, as of the date hereof.
Set forth in Schedule B is the name, citizenship, business or residence
address and present principal occupation or employment, as well as the name,
principal business and
address of any corporation or other organization in which such occupation or
employment is conducted, of each of the directors and executive officers of
MSIM, as of the date hereof.
Set forth in Schedule C is the name, citizenship, business or residence
address and present principal occupation or employment, as well as the name,
principal business and address of any corporation or other organization in which
such occupation or employment is conducted, of each of the directors and
executive officers of MSRESSI, as of the date hereof.
(d) None of the Reporting Persons, including MSRESSI, nor, to the
knowledge of the Reporting Persons, any of the other persons listed on Schedules
A, B and C attached hereto has been convicted in a criminal proceeding in the
past five years (excluding traffic violations or similar misdemeanors).
(e) During the past five years, none of the Reporting Persons, including
MSRESSI, nor, to the knowledge of the Reporting Persons, any of the other
persons listed on Schedules A, B and C attached hereto was a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction as a
result of which such person was or is subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any violation with
respect to such laws.
ITEM 4. PURPOSE OF TRANSACTION.
Item 4 is hereby amended and supplemented by adding the following:
On March 14, 2002 the Issuer, MSRESSI and the other selling shareholders
entered into a Stock Redemption Agreement ("Agreement") by which the Issuer will
redeem from MSRESSI and the other selling shareholders 1,200,000 shares of
Series A Convertible Preferred Shares ("Preferred Shares"), par value $0.01 per
share (representing 1,714,286 Common Shares) for $22.0204 per share, subject to
market price adjustments and other conditions described in the Agreement
attached hereto as Exhibit 7. If the transaction proposed in the Agreement is
consummated, the Issuer will redeem all Preferred Shares then held by the
Reporting Persons.
The foregoing does not purport to be a complete description of the terms
of the Stock Redemption Agreement and is qualified in its entirety by reference
to Exhibit 7 hereof, which is incorporated by reference hereof. Except as
described above, as of the date of this Amendment No. 1 to Schedule 13D, the
Reporting Persons have no present plans or proposals of a type requiring
disclosure under Item 4 of Schedule 13D.
MSDW is filing solely in its capacity as parent company and indirect
beneficial owner of securities held by its business units.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby amended and supplemented by adding the following:
MSRESSI, for the purpose of Rule 13d-3 promulgated under the Exchange Act,
beneficially owns 767,076 Common Shares representing approximately 10.8% of the
outstanding Shares (based on 7,088,926 Common Shares reported by the Company as
outstanding on March 13, 2002 in its report on Form 10-K for the fiscal year
ended December 31, 2001);
The response to Item 4 is incorporated herein by reference.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Item 6 is hereby amended and supplemented by adding the following:
The response to Item 4 is incorporated herein by reference.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Item 7 is hereby amended and supplemented by adding the following:
Exhibit 7: Stock Redemption Agreement by and among Ramco-Gershenson
Properties, L.P., the Issuer, Morgan Stanley Real Estate Special Situations Fund
II, L.P., MS Special Funds Pte. Ltd., Stichting Pensioenfonds ABP, Stichting
Bedrijfspensioenfonds voor de Metaal en Technische Bedrijfstakken, The Morgan
Stanley Real Estate Special Situations Fund I, L.P. and MS Real Estate Special
Situations, Inc. dated as of March 14, 2002.
Exhibit 8. Joint Filing Agreement
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: March 19, 2002
MORGAN STANLEY DEAN WITTER & CO.
By: /s/ Robert G. Koppenol
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Robert G. Koppenol
Authorized Signatory
MORGAN STANLEY INVESTMENT MANAGEMENT INC.
By: /s/ Richard A. Schultz
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Richard A. Schultz
Authorized Signatory
MS REAL ESTATE SPECIAL SITUATIONS, INC.
By: /s/ Richard A. Schultz
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Richard A. Schultz
Vice President
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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7. Stock Redemption Agreement by and among Ramco-Gershenson
Properties, L.P., the Issuer, Morgan Stanley Real Estate Special
Situations Fund II, L.P., MS Special Funds Pte. Ltd., Stichting
Pensioenfonds ABP, Stichting Bedrijfspensioenfonds voor de Metaal
en Technische Bedrijfstakken, The Morgan Stanley Real Estate
Special Situations Fund I, L.P. and MS Real Estate Special
Situations, Inc. dated as of March 14, 2002.
8. Joint Filing Agreement
SCHEDULE A
EXECUTIVE OFFICERS AND DIRECTORS OF
MORGAN STANLEY DEAN WITTER & CO.
The names of the Directors and the names and titles of the Executive
Officers of Morgan Stanley Dean Witter & Co. ("MSDW") and their business
addresses and principal occupations are set forth below. If no address is given,
the Director's or Executive Officer's business address is that of MSDW at 1585
Broadway, New York, New York 10036. Unless otherwise indicated, each occupation
set forth opposite an individual's name refers to MSDW and each individual is a
United States citizen.
NAME PRESENT PRINCIPAL OCCUPATION
--------------------------------- ----------------------------------------
* Philip J. Purcell Chairman of the Board and Chief
Executive Officer
* Robert G. Scott President and Chief Operating Officer
* Robert P. Bauman Retired; former Chief Executive Officer
Invensys plc of SmithKline Beecham plc
Invensys House, Carlisle Place
London SW1P 1BX, ENGLAND
* Edward A. Brennan Retired; former Chairman of the Board,
400 North Michigan Avenue, President and Chief Executive Officer of
Suite 400 Sears, Roebuck and Co.
Chicago, IL 60611
* John E. Jacob Executive Vice President and Chief
Anheuser-Busch Companies, Inc. Communications Officer of Anheuser-Busch
One Busch Place Companies, Inc.
St. Louis, MO 63118
* C. Robert Kidder Chairman of the Board and Chief
Borden, Inc. Executive Officer of Borden, Inc.
180 East Broad St.
Columbus, OH 43215
* Charles F. Knight Chairman of Emerson Electric Co.
Emerson Electric Co.
8000 West Florissant
St. Louis, MO 63136
* John W. Madigan Chairman and Chief Executive Officer
Tribune Company of Tribune Company
435 North Michigan Avenue,
Suite 2300
Chicago, IL 60611
SCHEDULE A
NAME PRESENT PRINCIPAL OCCUPATION
--------------------------------- ----------------------------------------
* Miles L. Marsh Former Chairman of the Board and Chief
W.H. Clark & Associates Executive Officer of Fort James
20 S. Clark St, Suite 2222 Corporation
Chicago, IL 60603
* Michael A. Miles Special Limited Partner of Forstmann
1350 Lake Road Little and Co.
Lake Forest, IL 60045
* Laura D'Andrea Tyson Dean of the London Business School
London Business School
Sussex Place, Regent's Park
London NW1 4SA, England
Stephen S. Crawford Executive Vice President and Chief
Financial Officer
Roger C. Hochschild Executive Vice President and Chief
Strategic and Administrative Officer
Donald G. Kempf, Jr. Executive Vice President, Chief Legal
Officer & Secretary
Tarek F. Abdel-Meguid Head of Worldwide Investment Banking
Zoe Cruz Head of Worldwide Fixed Income Division
John P. Havens Head of Worldwide Institutional Equities
Group
Mitchell M. Merin President and COO, Asset Management
David W. Nelms President and COO, Discover Financial
Services
Stephan F. Newhouse Co-President and COO, Institutional
Securities Group
Vikram S. Pandit Co-President and COO, Institutional
Securities Group
Joseph R. Perella Chairman of Institutional Securities
Group
John H. Schaefer President and COO, Individual Investor
Group
* Director
SCHEDULE B
EXECUTIVE OFFICERS AND DIRECTORS OF
MORGAN STANLEY INVESTMENT MANAGEMENT INC.
The names of the Directors and the names and titles of the Executive
Officers of Morgan Stanley Investment Management Inc. ("MSIM") and their
business addresses and principal occupations are set forth below. If no address
is given, the Director's or Executive Officer's business address is that of MSIM
at 1221 Avenue of the Americas, New York, New York 10020. Unless otherwise
indicated, each occupation set forth opposite an individual's name refers to
MSIM and each individual is a United States citizen.
NAME PRESENT PRINCIPAL OCCUPATION
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* Barton M. Biggs Chairman and Managing Director
* Richard B. Worley President & Managing Director
* Mitchell M. Merin
Joseph J. McAlinden Chief Investment Officer
Rajesh K. Gupta Chief Administrative Officer--Investments
Ronald E. Robison Chief Operations Officer and Managing
Director
Arthur J. Lev General Counsel, Principal and Secretary
Alexander C. Frank Treasurer
* Director
SCHEDULE C
EXECUTIVE OFFICERS AND DIRECTORS OF
MS REAL ESTATE SPECIAL SITUATIONS, INC.
The names of the Directors and the names and titles of the Executive
Officers of MS Real Estate Special Situations, Inc. ("MSRESSI") and their
business addresses and principal occupations are set forth below. If no address
is given, the Director's or Executive Officer's business address is that of
MSRESSI at 1585 Broadway, New York, New York 10036. Unless otherwise indicated,
each occupation set forth opposite an individual's name refers to MSRESSI and
each individual is a United States citizen.
NAME PRESENT PRINCIPAL OCCUPATION
------------------------------ -----------------------------------------
* Owen D. Thomas Chairman of the Board of MSRESSI and
Managing Director of Morgan Stanley &
Co. Incorporated
* John Timothy Morris President of MSRESSI and Managing
Director of Morgan Stanley & Co.
Incorporated
Michael E. Foster Vice President of MSRESSI and Managing
Director of Morgan Stanley & Co.
Incorporated
Jeffrey K. Gronning Vice President of MSRESSI and Executive
Director of Morgan Stanley & Co.
Incorporated
Richard A. Schultz Vice President of MSRESSI and Morgan
Stanley & Co. Incorporated
Christopher L. O'Dell Vice President and Secretary of MSRESSI
and Vice President of Morgan Stanley &
Co. Incorporated
* Director