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FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION OMB APPROVAL
------ WASHINGTON, D.C. 20549 -------------------------------
OMB Number 3235-0287
|_| Check this box if STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Expires: January 31, 2005
no longer subject Estimated average burden
to Section 16. Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, hours per response........0.5
Form 4 or Form 5 Section 17(a) of the Public Utility Holding Company Act of 1935 -------------------------------
obligations may or Section 30(h) of the Investment Company Act of 1940
continue. See
Instruction 1(b)
(Print or Type Responses)
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1.Name and Address of Reporting Person* 2.Issuer Name AND Ticker or Trading Symbol 6.Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Hewitt Alexander S. AmeriVest Properties, Inc. (AMV) Director X 10% Owner
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(Last) (First) (Middle) 3.IRS or Social Security 4.Statement for X Officer (give Other (specify
Number of Reporting Month/Day/Year --- title below) --- below)
Person, if an entity
(Voluntary) 03/27/03 Vice President and Secretary
1780 South Bellaire Street, Suite 515 N/A --------------------------------
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(Street) 5.If Amendment, 7.Individual or Joint/Group Filing
Date of Original (Check applicable line)
(Month/Day/Year) X Form filed by One Reporting Person
Denver CO 80222 ---
----------------------------------------- Form filed by More than One
(City) (State) (Zip) --- Reporting Person
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TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1.Title of Security 2.Trans- 2A.Deemed 3.Transaction 4.Securities Acquired (A) 5.Amount of 6.Ownership 7.Nature of
(Instr. 3) action Execu- Code or Disposed of (D) Securities Form: Indirect
Date tion Date (Instr. 8) (Instr. 3, 4 and 5) Beneficially Direct Beneficial
(if any) --------------------------------------------- Owned Follow- (D) or Ownership
(Month/ (Month/ ing Reported Indirect (Instr. 4)
Day/ Day/ Code V Amount (A) or Price Transaction(s) (I)
Year) Year) (D) (Instr. 3 and 4) (Instr. 4)
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Common Stock 03/27/03 J(a) 33,063 D (a)
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Common Stock 03/27/03 X 210,000 A $5.00
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Common Stock 03/27/03 X 240,000 A $5.00 1,639,955 I (b)
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328,885 D
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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).
(Over)
SEC 1474 (10-02)
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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1. Title of Derivative 2. Conver- 3. Trans- 3A. Deemed 4. Trans- 5. Number of 6. Date Exer- 7. Title and Amount
Security sion or action Execu- action Derivative cisable and of Underlying
(Instr. 3) Exercise Date tion Code Securities Expiration Securities
Price of Date, (Instr. 8) Acquired (A) or Date (Instr. 3 and 4)
Deriv- (Month/ if any Disposed of (D) (Month/Day/
ative Day/ (Instr. 3, 4, Year)
Security Year) (Month/ and 5)
Day/ --------------------------------------------------------------------
Year) Date Expira- Amount or
Code V (A) (D) Exer- tion Title Number of
cisable Date Shares
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Common Stock Warrants $5.00 03/27/03 X 210,000 Immed. 12/31/05 Common 210,000
Stock
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Common Stock Warrants $5.00 03/27/03 J(a) 25,000 Immed. 12/31/05 Common 25,000
Stock
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Common Stock Warrants $5.00 03/27/03 J(c) 240,000 Immed. 12/31/05 Common 240,000
Stock
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Common Stock Warrants $5.00 03/27/03 J(c) 240,000 Immed. 12/31/05 Common 240,000
Stock
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Common Stock Warrants $5.00 03/27/03 X 240,000 Immed. 12/31/05 Common 240,000
Stock
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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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1. Title of Derivative 8. Price 9. Number of 10. Ownership 11. Nature of
Security of Derivative Form of Indirect
(Instr. 3) Deriv- Securities Derivative Beneficial
ative Beneficially Security: Ownership
Security Owned Follow- Direct (D) or (Instr. 4)
(Insr. 5) ing Reported Indirect (I)
Transaction(s) (Instr. 4)
(Instr. 4
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Common Stock Warrants -- -- --
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Common Stock Warrants -- -- --
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Common Stock Warrants -- -- --
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Common Stock Warrants -- -- --
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Common Stock Warrants 260,000 I (d)
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Explanation of Responses:
(a) Disposition occurred as a result of withdrawal of members from a limited liability company beneficially owning securities
of the Issuer, and distribution of common stock and warrants to such withdrawing members. With respect to such limited
liability company, the filing person may be deemed to have beneficial ownership.
(b) Common stock owned by entities in which reporting person has an indirect pecuniary interest. Reporting person disclaims
beneficial ownership over an aggregate of 1,141,528 shares of common stock.
(c) Disposition and acquisition occurred as a result of distribution from limited liability company beneficially owing
securities of the Issuer to the filing person. With respect to such limited liability company, the filing person may be
deemed to have beneficial ownership.
(d) Warrants owned by an entity in which the reporting person has an indirect pecuniary interest. Reporting person disclaims
beneficial ownership over warrants exercisable for an aggregate of 130,000 shares of common stock.
/s/ DEBORAH J. FRIEDMAN 03/31/03
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Reminder: Report on a separate line for each class of securities beneficially Deborah J. Friedman Date
owned directly or indirectly Attorney-in-Fact
* If the form is filed by more than one reporting person, see
Instruction 4(b)(v).
** 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 provided 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