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OMB Number: 3235-0287
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(h) of the Investment Company Act of 1940
[_] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Krupp George D.
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(Last) (First) (Middle)
c/o Berkshire Income Realty, Inc.
One Beacon Street, Suite 1500
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(Street)
Boston MA 02108
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(City) (State) (Zip)
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2. Issuer Name AND Ticker or Trading Symbol
Berkshire Income Realty, Inc. ("BIR")
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3. IRS Identification Number of Reporting Person, if any (Voluntary)
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4. Statement for Month/Day/Year
04/04/2003
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5. If Amendment, Date of Original (Month/Day/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
Member of Investment Committee of Advisor to Issuer
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7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form Filed by One Reporting Person
[_] Form Filed by More than One Reporting Person
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TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF,
OR BENEFICIALLY OWNED
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5.
Amount of 6.
4. Securities Owner-
Securities Acquired (A) or Beneficially ship
2. 2A. 3. Disposed of (D) Owned Follow- Form: 7.
Transac- Deemed Transaction (Instr. 3, 4 and 5) ing Reported Direct Nature of
tion Execution Code ------------------------------- Transac- (D) or Indirect
1. Date Date, if any Instr. 8) (A) tions(s) Indirect Beneficial
Title of Security (Month/ (Month/ ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) Day/Year) Day/Year) Code V (D) and 4) (Instr.4) (Instr. 4)
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9% Series A Cumulative 4/4/2003 J (1) 3,981 A (1) 3,981 I Through
Redeemable Preferred Stock Berkshire
Mortgage
Advisors
Limited
Partnership
(1)
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Class B Common Stock 4/4/2003 P (2) 1,200,000 A $1,200,000 1,200,100 I Through KRF
Company,
L.L.C. (2)
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one Reporting Person, see Instruction
4(b)(v).
PERSONS WHO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND
UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB NUMBER.
(Over)
SEC 1474 (9-02)
FORM 4 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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9.
Number 10.
of Owner-
Deriv- ship
ative Form
2. Secur- of
Conver- 5. 7. ities Deriv- 11.
sion 3A Number of Title and Amount Bene- ative Nature
or Deemed Derivative 6. of Underlying 8. ficially Secur- of
Exer- Exe- 4. Securities Date Securities Price Owned ity: In-
cise 3. cution Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Follow- Direct direct
Price Trans- Date, action or Disposed Expiration Date ---------------- Deriv- ing Re- (D) or Bene-
1. of action if Code of (D) (Month/Day/Year) Amount ative ported In- ficial
Title of Deriv- Date any (Instr. (Instr. 3, ---------------- or Secur- Trans- direct Owner-
Derivative ative (Month/ (Month/ 8) 4 and 5) Date Expira- Number ity action(s) (I) ship
Security Secur- Day/ Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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Explanation of Responses: See page 3 attached.
/s/ George D. Krupp April 8, 2003
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**Signature of Reporting Person Date
Name: George D. Krupp
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB number.
Page 2
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CONTINUATION SHEET TO FORM 4
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Name and Address of Reporting Person: George D. Krupp
c/o Berkshire Income Realty, Inc.
One Beacon Street, Suite 1500
Boston, MA 02108
Issuer Name and Ticker or Trading Symbol: Berkshire Income Realty, Inc.
("BIR")
Statement for Month/Day/Year: April 4, 2003
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Explanation of Responses:
(1) As of April 4, 2003, BIR closed its offers to exchange shares of its 9%
Series A Cumulative Redeemable Preferred Stock, liquidation value $25 per share
("Preferred Stock"), for interests in five mortgage funds, Krupp Government
Income Trust ("GIT"), Krupp Government Income Trust II ("GIT II"), Krupp Insured
Plus Limited Partnership, Krupp Insured Plus II Limited Partnership and Krupp
Insured Plus III Limited Partnership. In connection with the closing of these
exchange offers, Berkshire Mortgage Advisors Limited Partnership ("BMALP")
received 1,481 shares of Preferred Stock in exchange for 10,000 shares of
beneficial interest in GIT and 2,500 shares of Preferred Stock in exchange for
10,000 shares of beneficial interest in GIT II, for a total of 3,981 shares of
Preferred Stock. Berkshire Companies Limited Partnership ("BCLP") owns 100% of
the limited partnership interests in BMALP, and BCLP's wholly-owned subsidiary,
Berkshire Funding Corporation, owns 100% of the general partnership interests in
BMALP. KELP - 1987 owns 100% of the limited partnership interests in BCLP, and
each of KGP-1, Incorporated and KGP-2, Incorporated owns 50% of the general
partnership interests in BCLP. George D. Krupp and certain of his affiliates are
the limited partners of KELP - 1987, and George D. Krupp owns 50% of the stock
of each of KGP-1, Incorporated and KGP-2, Incorporated. By virtue of such
interests, George D. Krupp may be deemed to beneficially own indirectly the
shares of Preferred Stock owned by BMALP.
(2) In connection with the closing of the BIR exchange offers described in
(1) above, KRF Company, L.L.C. contributed an additional $1,200,000 to BIR in
exchange for 1,200,000 additional shares of Class B common stock of BIR.
Including the 100 shares of Class B common stock owned by KRF Company, L.L.C.
prior to such transaction, KRF Company, L.L.C. owned a total of 1,200,100 shares
of Class B common stock of BIR as of April 4, 2003. Krupp Family Limited
Partnership - 94 owns 100% of the limited liability company interests in KRF
Company, L.L.C., and George D. Krupp owns 50% of the general partner interests
in Krupp Family Limited Partnership - 94. By virtue of such interest, George D.
Krupp may be deemed to beneficially own indirectly the shares of Class B common
stock owned by KRF Company, L.L.C.