center13da-111607.htm
 
As filed with the Securities and Exchange Commission on November 16, 2007

 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
 
American Mortgage Acceptance Company
(Name of Issuer)
 
 
Shares of Beneficial Interest, $0.10 Par Value Per Share
(Title of Class of Securities)
 
 
027568203
(CUSIP Number)
 
 
Mark Schonberger, Esq.
Michael L. Zuppone, Esq.
Paul, Hastings, Janofsky & Walker LLP
75 East 55th Street
New York, New York 10022
(212) 318-6859
(Name, Address and Telephone Number of Person Authorized
 to Receive Notices and Communications)
 
 
 

OCTOBER 9, 2007
(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.
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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).
 
 
CUSIP No. 027568203
  
Page 2 of 5 Pages

SCHEDULE 13D

1
NAME OF REPORTING PERSON: Centerline Holding Company

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-3949418
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

Not applicable
(a) |_|   
(b) |_|   
3
SEC USE ONLY
 
 
4
SOURCE OF FUNDS

WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

        Not applicable
 |_|   
6
CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware


NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER

1, 216,126 (1)
8
SHARED VOTING POWER
 
0
9
SOLE DISPOSITIVE POWER
 
1, 216,126 (1)
10
SHARED DISPOSITIVE POWER

0
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1, 216,126 (1)
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

Not applicable
 |_|   
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

13.45%
14
TYPE OF REPORTING PERSON
CO
 
 
1)
Includes 635,628 shares issuable upon conversion of American Mortgage Acceptance Company’s 7.25% Series A Cumulative Convertible Preferred Shares (“Preferred Shares”) at the initial conversion rate of 2.2701 shares per Preferred Share.
 
 
CUSIP No. 027568203
  
Page 3 of 5 Pages
 
 
Explanatory Note: This Amendment No. 1 (this "Amendment") to Schedule 13D is filed by Centerline Holding Company (the "Reporting Persons" pursuant to Rule 13d-2(a) under the Securities Exchange Act of 1934, as amended.  This Amendment amends and supplements the Schedule 13D filed with the U.S. Securities and Exchange Commission (the "Commission") on October 9, 2007 (the "Initial 13D") and relates to the shares of beneficial interest, par value $0.10 per share ("Shares") of American Mortgage Acceptance Company, a Massachusetts business trust (the "Issuer").

 
Item 3.
Source and Amount of Funds and Other Consideration.
 
Item 3 is amended and restated in its entirety as follows:
 
The net investment cost (including broker commissions) for the Shares acquired by the Reporting Person is $5.3 million.  The Shares purchased by the Reporting Person were purchased with the working capital of the Reporting Person.
 
Item 5.
Interests in Securities of the Issuer.
 
Items 5(a), (b) and (c) are amended and restated in their entirety as follows:
 
(a)           The aggregate percentage of Shares reported beneficially owned by the Reporting Person as of the date of filing this Schedule 13D is based upon 8,406,028 Shares issued and outstanding as reported by the Issuer in its most recent quarterly report of Form 10-Q for the period ended September 30, 2007 filed with the Securities and Exchange Commission on November 9, 2007. As of the close of business on November 16, 2007, the Reporting Person beneficially owned 1,216,126 Shares, constituting approximately 13.45% of the Shares outstanding.  This amount includes 635,628 Shares issuable to the Reporting Person upon conversion of the Preferred Shares at the initial conversion rate of 2.2701 Shares per Preferred Share.
 
(b)           The Reporting Person has sole power to vote all of the Shares and to dispose of all of the Shares beneficially owned by it.
 
(c)           The trading dates, number of shares purchased and price per share for all transactions in the Shares during the 60 days prior to the date hereof, by the Reporting Person are set forth in Schedule A, which schedule is incorporated herein by reference. All of these trades were effected on the American Stock Exchange.
 
 
CUSIP No. 027568203
  
Page 4 of 5 Pages
 
 
SIGNATURE
 
After reasonable inquiry and to the best knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct.
 
 
Centerline Holding Company
   
   
Date:  November 16, 2007
By:  /s/ Robert L. Levy
        Robert L. Levy
        Chief Financial Officer
   
 
 
CUSIP No. 027568203
  
Page 5 of 5 Pages
 
 
 
Schedule A
 
Transactions in the Shares
 
 
Date
  
Shares
Purchased
  
Average
Purchase
Price
  
Total Costs
September 17, 2007
  
470    
  
$     8.14
  
$       3,826        
September 18, 2007
  
3,206    
  
$     8.81
  
$     28,259        
September 19, 2007
  
5,200    
  
$     9.15
  
$     47,556        
September 20, 2007
  
3,135    
  
$     9.24
  
$     28,959        
September 21, 2007
  
1,428    
  
$     8.94
  
$     12,773        
September 24, 2007
  
1,170    
  
$     9.16
  
$     10,715        
September 25, 2007
  
4,476    
  
$     9.07
  
$     40,577        
September 26, 2007
  
5,200    
  
$     9.07
  
$     47,179        
September 27, 2007
  
4,000    
  
$     8.82
  
$     35,268        
September 28, 2007
  
2,900    
  
$     8.64
  
$     25,052        
October 1, 2007
  
5,200    
  
$     8.90
  
$     46,274        
October 2, 2007
  
1,000    
  
$     8.87
  
$       8,872        
October 3, 2007
  
2,050    
  
$     8.83
  
$     18,107        
October 4, 2007
  
2,858    
  
$     8.84
  
$     25,270        
October 5, 2007
  
1,400    
  
$     8.93
  
$     12,499        
October 8, 2007
  
1,900    
  
$     9.00
  
$     17,106        
October 9, 2007
  
4,000    
  
$     9.00
  
$     36,018        
October 10, 2007
  
5,004    
  
$     8.81
  
$     44,087        
October 11, 2007
  
3,800    
  
$     8.72
  
$     33,146        
October 12, 2007
  
2,910    
  
$     8.67
  
$     25,229        
October 15, 2007
  
3,100    
  
$     8.58
  
$     26,599        
October 16, 2007
  
5,200    
  
$     8.39
  
$     43,637        
October 17, 2007
  
4,100    
  
$     8.19
  
$     33,572        
October 18, 2007
  
1,172    
  
$     8.05
  
$       9,435        
October 19, 2007
  
3,800    
  
$     8.07
  
$     30,669        
October 22, 2007
  
2,650    
  
$     7.75
  
$     20,528        
October 23, 2007
  
3,400    
  
$     7.87
  
$     26,750        
October 24, 2007
  
3,600    
  
$     7.69
  
$     27,690        
October 25, 2007
  
1,400    
  
$     7.85
  
$     10,985        
October 26, 2007
  
3,815    
  
$     7.98
  
$     30,452        
October 29, 2007
  
4,700    
  
$     8.06
  
$     30,567        
October 30, 2007
  
1,055    
  
$     7.95
  
$       8,415        
October 31, 2007
  
1,500    
  
$     8.08
  
$     12,165        
November 1, 2007
  
4,628    
  
$     8.01
  
$     37,190        
November 2, 2007
  
1,556    
  
$     7.96
  
$     12,430        
November 5, 2007
  
800    
  
$     7.90
  
$       6,344        
November 6, 2007
  
4,800    
  
$     7.86
  
$     37,880        
November 7, 2007
  
5,400    
  
$     7.37
  
$     39,986        
Totals
  
117,983    
  
 
  
$1,002,312