SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE TO
(Rule 14d-100)
Tender Offer Statement Pursuant to Section 14(d)(1) or 13(e)(1)
of the Securities Exchange Act of 1934
(Amendment No. )
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MARRIOTT RESIDENCE INN LIMITED PARTNERSHIP
(Name of Subject Company (Issuer))
MADISON LIQUIDITY INVESTORS 114, LLC
(Name of Filing Person (Offeror))
UNITS OF LIMITED PARTNERSHIP INTERESTS
(Title of Class of Securities)
751641109
(CUSIP Number of Class of Securities)
Ronald M. Dickerman Douglas H. S. Greene
Madison Capital Management, LLC Haberhill LLC
410 Park Avenue, Suite 540 11790 Glen Road
New York, New York 10022 Potomac, Maryland 20854
(212) 687-0518 (301) 299-8715
Copy to:
David E. Martin, Esq.
100 Park Avenue, 22nd Floor
New York, New York 10017
(212) 953-3822
(Name, Address and Telephone Numbers of Person Authorized
to Receive Notices and Communications on Behalf of Filing Persons)
Calculation of Filing Fee
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Transaction Valuation* Amount of Filing Fee
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$3,936,000.00 $787.20
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*For purposes of calculating the filing fee only. This amount assumes the
purchase of 13,120 Units of the subject company at $300 in cash per Unit.
[_] Check box if any part of the fee is offset as provided by Rule 0-11(a)(2)
and identify the filing with which the offsetting fee was previously paid.
Identify the previous filing by registration statement number, or the Form or
Schedule and the date of its filing.
Amount Previously Paid: N/A Filing Party: N/A
Form or Registration Number: N/A Date Filed: N/A
[_] Check the box if the filing relates solely to preliminary communications
made before the commencement of a tender offer.
Check the appropriate boxes below to designate any transactions to which the
statement relates:
[X] third-party tender offer subject to Rule 14d-1.
[_] issuer tender offer subject to Rule 13e-4.
[_] going private transaction subject to Rule 13e-3.
[_] amendment to Schedule 13D under Rule 13d-2.
Check the following box if the filing is a final amendment reporting the results
of the tender offer: [_]
Item 1. Summary Term Sheet.
(a) The information set forth under the caption "Summary Term Sheet" in the
Offer to Purchase is incorporated herein by reference.
Item 2. Subject Company Information.
(a) The name of the subject company is Marriott Residence Inn Limited
Partnership, a Delaware limited partnership (the "Partnership"). The address of
the Partnership's principal executive offices is 10400 Fernwood Road, Bethesda,
Maryland 20817, and its telephone number at that address is (301) 380-2070.
(b) The Partnership had 65,600 Units of Limited Partnership Interest
outstanding as of December 31, 2000, according to its Annual Report on Form 10-K
for the fiscal year ended December 31, 2000, dated April 2, 2001.
(c) The information set forth under the captions "Introduction -
Establishment of the Offer Price" and Section 8 - "Effects of the Offer" in the
Offer to Purchase is incorporated herein by reference.
Item 3. Identity and Background of Filing Person.
(a)-(c) The information set forth in "Introduction," Section 11 - "Certain
Information Concerning the Purchaser" and in Schedule I of the Offer to Purchase
is incorporated herein by reference. During the last five years, neither the
Purchaser nor, to the best of the knowledge of the Purchaser, any person named
on Schedule I to the Offer to Purchase nor any affiliate of the Purchaser (i)
has been convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) or (ii) was a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
were or are subject to a judgment, decree or final order enjoining future
violations of, or prohibiting activities subject to, Federal or State securities
laws or finding any violation of such laws.
Item 4. Terms of the Transaction.
(a) This Schedule TO relates to the offer by Madison Liquidity Investors
114, LLC, a Delaware limited liability company (the "Purchaser"), to purchase up
to 13,120 units of limited partnership interest ("Units") for cash at a price
equal to $300 per Unit in cash, reduced by any cash distributions made or
declared on or after May 16, 2001 (the "Offer Date"), with interest at the rate
of 7% per annum from the Expiration Date to the date of payment (the "Offer
Price"), upon the terms and subject to the conditions set forth in the Offer to
Purchase dated May 16, 2001 (the "Offer to Purchase") and in the related
Agreement of Assignment and Transfer copies of which are attached hereto as
Exhibits (a)(1) and (a)(2), respectively, as each may be supplemented or amended
from time to time.
The information set forth under the captions Section 1 - "Terms of the
Offer" through Section 7 - "Certain Federal Income Tax Consequences" in the
Offer to Purchase is incorporated herein by reference.
Item 5. Past Contacts, Transactions, Negotiations and Agreements.
(a) Not applicable.
(b) The information set forth under the caption "Introduction -
Establishment of the Offer Price" in the Offer to Purchase is incorporated
herein by reference.
Item 6. Purposes of the Transaction and Plans or Proposals.
(a)-(c)(1)-(7) The information set forth under the caption Section 9 -
"Purpose of the Offer; Future Plans" in the Offer to Purchase is incorporated
herein by reference.
Item 7. Source and Amount of Funds or Other Consideration.
(a) The information set forth under the caption Section 12 - "Source of
Funds" in the Offer to Purchase is incorporated herein by reference.
(b), (d) Not applicable.
Item 8. Interest in Securities of the Subject Company.
(a)-(b) The information set forth in Section 11 - "Certain Information
Concerning the Purchaser" in the Offer to Purchase is incorporated herein by
reference.
Item 9. Persons/Assets Retained, Employed, Compensated or Used.
None.
Item 10. Financial Statements.
Not applicable.
Item 11. Additional Information.
(a) The information set forth in Section 14 - "Certain Legal Matters"
in the Offer to Purchase is incorporated herein by reference.
(b) None.
Item 12. Exhibits.
(a)(1) Offer to Purchase dated May 16, 2001.
(a)(2) Form of Agreement of Assignment and Transfer.
(a)(3) Letter to Unitholders dated May 16, 2001.
(a)(4) Summary Publication of Notice of Offer dated May 25, 2001.
Item 13. Information Required by Schedule 13E-3.
Not applicable.
SIGNATURES
After due 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: May 16, 2001
MADISON LIQUIDITY INVESTORS 114, LLC
By: MRI Partners, LLC, Managing Member
/s/ Ronald M. Dickerman
By: _____________________________
Ronald M. Dickerman, Managing Director
EXHIBIT INDEX
Exhibit Description Page
(a)(1) Offer to Purchase dated May 16, 2001.
(a)(2) Form of Agreement of Assignment and Transfer.
(a)(3) Letter to Unitholders dated May 16, 2001.
(a)(4) Summary Publication of Notice of Offer.