SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
under the Securities Exchange Act of 1934
(Amendment No. 17)
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SIZELER PROPERTY INVESTORS, INC.
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(Name of Issuer)
Common Stock, Par Value $.0001 per share
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(Title of Class of Securities)
830137-10-5
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(CUSIP Number of Class of Securities)
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Carolyn Tiffany
First Union Real Estate Equity and David J. Heymann
Mortgage Investments Post Heymann & Koffler LLP
7 Bulfinch Place Two Jericho Plaza, Wing A
Suite 500 Suite 111
Boston, Massachusetts 02114 Jericho, New York 11753
(617) 570-4614 (516) 681-3636
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 24, 2005
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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
schedule because of Rule 13d-1(b)(3) or (4), 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.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover 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).
(continued on next page(s))
CUSIP NO. 830137-10-5 13D/A
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Union Real Estate Equity and Mortgage Investments
I.R.S. I.D. No. 34-6513657
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(e) OR 2(f) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Ohio
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7 SOLE VOTING POWER
1,415,300
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY - 0 -
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,415,300
WITH -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,415,300
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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)
8.82%
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14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
This Amendment No. 17 amends certain information contained in the Schedule
13Dfiled by First Union Real Estate Equity and Mortgage Investments, an Ohio
business trust ("First Union"), with respect to its ownership interest in
Sizeler Property Investors, Inc., as amended by Amendment No. 1 to Schedule 13D
dated November 11, 2004, as further amended by Amendment No. 2 to Schedule 13D
dated November 16, 2004, as further amended by Amendment No. 3 to Schedule 13D
dated December 6, 2004, as further amended by Amendment No. 4 to Schedule 13D
dated December 21, 2004, as further amended by Amendment No. 5 to Schedule 13D
dated January 7, 2005, as further amended by Amendment No. 6 to Schedule 13D
dated January 14, 2005, as further amended by Amendment No. 7 to Schedule 13D
dated January 19, 2005, as further amended by Amendment No. 8 to Schedule 13D
dated January 26, 2005, as further amended by Amendment No. 9 to Schedule 13D
dated January 31, 2005, as further amended by Amendment No. 10 to Schedule 13D
dated February 23, 2005, as further amended by Amendment No. 11 to Schedule 13D
dated March 8, 2005, as further amended by Amendment No. 12 to Schedule 13D
dated March 15, 2005, as further amended by Amendment No. 13 to Schedule 13D
dated March 16, 2005, as further amended by Amendment No. 14 to Schedule 13D
dated March 18, 2005, as further amended by Amendment No. 15 to Schedule 13D
dated March 22, 2005, and as further amended by Amendment No. 16 to Schedule 13D
dated March 23, 2005 (the "13D"). Capitalized terms used but not defined herein
have the meanings ascribed to them in the 13D.
Item 3. Source and Amount of Funds or Other Consideration
Item 3 is hereby amended as follows:
First Union purchased an additional 15,000 Shares on March 23, 2005 for an
aggregate purchase price of $180,000, which funds were provided from the working
capital of First Union.
Item 4. Purpose of Transaction.
Item 4 is hereby amended as follows:
On March 24, 2005, First Union's counsel sent a letter to the Issuer's
counsel (i) noting that the Issuer has for the past nine years held its annual
meeting of shareholders on the first or second Friday in May and requesting that
First Union be advised of the meeting date for the current year, (ii) requesting
that the Issuer refrain from taking any actions outside the usual course of
business without adequate notice to stockholders of at least three business day
and (iii) requesting that in light of First Union's firm belief that it will
prevail on the merits of the Issuer's claims against First Union in Federal
court, that First Union be promptly advised as to which persons the Issuer would
like to depose in the action and what documents the Issuer would like to review.
A copy of the letter sent to the Issuer's counsel is attached hereto as
Exhibit 14.
Item 5. Interest in Securities of the Issuer
Item 5 is hereby amended and restated to read as follows:
(a) As of the close of business on March 23, 2005, First Union directly
owns 1,415,300 Shares representing 8.82% of the total outstanding Shares. The
foregoing is based upon 16,045,000 Shares outstanding which represents the
number of shares reported outstanding in the Issuer's most recently filed report
on Form 10-K together with the 2,649,000 additional Shares issued on March 15,
2005.
(b) First Union has the sole power to vote and dispose of 1,415,300 Shares
owned by First Union.
(c) Set forth below is a description of all transactions in Shares that
were effected during the past sixty days by First Union and not previously
reported. All such transactions were purchases effected by First Union on the
open market.
Date Number of Shares Price Per Share
March 23, 2005 15,000 $12.00
(d) Not applicable
(e) Not applicable
Item 7. Materials to be Filed as Exhibits.
Exhibit 14. Letter from First Union's counsel to the Issuer's counsel
dated March 24, 2005.
Signatures
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: March 24, 2005 FIRST UNION REAL ESTATE EQUITY AND
MORTGAGE INVESTMENTS
By: /s/ Peter Braverman
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Peter Braverman
President