Filing Details
- Accession Number:
- 0001626691-19-000003
- Form Type:
- 13G Filing
- Publication Date:
- 2019-02-04 16:08:54
- Filed By:
- American Assets Capital Advisers, Llc
- Company:
- Drive Shack Inc. (NYSE:DS)
- Filing Date:
- 2019-02-04
- SEC Url:
- 13G Filing
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
---|---|---|---|---|---|---|
American Assets Capital Advisers | 6. | 4,314,500 | 8. | 4,314,500 | 4,314,500 | 6.4% |
American Assets Investment Management | 6. | 4,314,500 | 8. | 4,314,500 | 4,314,500 | 6.4% |
Soledad Realty Capital, Inc | 6. | 4,314,500 | 8. | 4,314,500 | 4,314,500 | 6.4% |
Ernest S. Rady | 6. | 4,314,500 | 8. | 4,314,500 | 4,314,500 | 6.4% |
Burland B. East, III | 63,000 | 4,314,500 | 63,000 | 4,314,500 | 4,377,500 | 6.5% |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. ________)* Drive Shack, Inc. (Name of Issuer) Common Stock, $0.01 par value per share (Title of Class of Securities) 262077100 (CUSIP Number) December 31, 2018 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *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 ("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). 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 control number.
Schedule13G CUSIP No. 262077100 1. Names of Reporting Persons. American Assets Investment Management , LLC 2. Check the Appropriate Box if a Member of a Group (a) [ ] (b) [ ] 3. SEC Use Only 4. Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned by Each Reporting Person With: 5. Sole Voting Power 6. Shared Voting Power 4,314,500 7. Sole Dispositive Power 8. Shared Dispositive Power 4,314,500 9. Aggregate Amount Beneficially Owned by Each Reporting Person 4,314,500 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares[ ] 11. Percent of Class Represented by Amount in Row (9) 6.4% 12. Type of Reporting Person HC
Schedule13G CUSIP No. 262077100 1. Names of Reporting Persons. Ernest S. Rady 2. Check the Appropriate Box if a Member of a Group (a) [ ] (b) [ ] 3. SEC Use Only 4. Citizenship or Place of Organization U.S. Number of Shares Beneficially Owned by Each Reporting Person With: 5. Sole Voting Power 6. Shared Voting Power 4,314,500 7. Sole Dispositive Power 8. Shared Dispositive Power 4,314,500 9. Aggregate Amount Beneficially Owned by Each Reporting Person 4,314,500 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] 11. Percent of Class Represented by Amount in Row (9) 6.4% 12. Type of Reporting Person HC
ITEM 10. CERTIFICATIONS. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect. SIGNATURE 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. February 4, 2019 (Date) AMERICAN ASSETS CAPITAL ADVISERS, LLC By: /s/ Burland B. East, III Burland B. East, III, Chief Executive Officer AMERICAN ASSETS INVESTMENT MANAGEMENT, LLC By: /s/ Ernest S. Rady Ernest S. Rady, Trustee of Sole Member SOLEDAD REALTY CAPITAL, INC. By: /s/ Burland B. East, III Burland B. East, III, President and Sole Shareholder BURLAND B. EAST, III /s/ Burland B. East, III ERNEST S. RADY /s/ Ernest S. Rady The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative other than an executive officer or general partner of the filing person, evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature.
ITEM 7 - EXHIBIT Pursuant to the instructions in Item 7 of Schedule 13G, the following table lists the identity and Item 3 classification of each relevant entity/individual that beneficially owns shares of the security class being reported on this Schedule 13G. Entity/Individual Item 3 Classification American Assets Investment Management, LLC ("AAIM") HC Soledad Realty Capital, Inc. ("Soledad") HC Burland B. East, III IN, HC Ernest S. Rady HC American Assets Capital Advisers, LLC ("AACA") IA The relationship of the joint filers are as follows: Mr. Burland East owns 100% of Soledad. Mr. Ernest Rady owns 100% of AAIM. AAIM and Soledad together own 100% of AACA. AACA is an investment adviser registered under Section 203 of the Investment Advisers Act of 1940. With the exception of 63,000 shares owned individually by Mr. Burland East, the shares of Drive Shack, Inc. covered by this report are held for the benefit of discretionary accounts advised and/or sub-advised by AACA. The ownership breakdown of the common stock of Drive Shack, Inc. is as follows: AAIM, Soledad, Burland East and Ernest Rady are control persons of AACA and therefore have indirect shared investment power and indirect shared voting power of 4,377,500 shares. Mr. Burland East also has direct investment power and sole voting power of 63,000 shares, which represent less than 1% of the outstanding shares of the issuer. AACA does not have any investment power or voting power over these shares. One of the separately managed accounts that holds shares of Drive Shack is an account for Mr. East that is managed by AACA. This account holds 500 shares of Drive Shack. Mr. East has the right to receive and the power to direct the receipt of dividends from, and the proceeds from the sale of, such securities, but AACA does not. AACA has investment power and voting power over accounts that hold in the aggregate 4,377,500 shares. No one account owns 5% or more of the shares.