Document:

EXHIBIT 10.32

                             Schedule of Purchasers

A.  Janus Investment Fund, on behalf of its series Janus Global Life Sciences
    Fund

B.  DCF Partners L.P.

C.  The DCF Life Sciences Fund Limited

D.  ACI Capital America Fund, LP

E.  ACI Capital Strategic Fund, LP

F.  Pequot Scout Fund, L.P.

G.  SMALLCAP World Fund, Inc.

H.  American Variable Insurance Series, Global Small Capitalization Fund

I.  Essex Performance Fund, Limited Partnership

J.  Essex Global Life Sciences Fund is a separate series of Essex Specialty
    Pooled Funds, LP

K.  DFS Integrity Partners, L.P.

L.  Gambro Inc.

934955.1Exhibit 4.8

                                   AMENDMENT

          Amendment dated as of January 26, 2000 to the Fifth Amended and
Restated Stockholders' Agreement dated as of July 29, 1999 by and among VANTAS
Incorporated, a Nevada corporation (the "Company"), and the Securityholders
identified therein, as further amended by an amendment thereto dated as of
November 22, 1999 (collectively, the "Agreement"). Unless otherwise defined,
all capitalized terms used herein shall have the meaning ascribed to them in
the Agreement.

          The undersigned, acting in accordance with Section 9.13 of the
Agreement, hereby further amend the Agreement as follows:

          1. Section 1.1(ww) is amended and restated in its entirety to read
as follows:
                 "(ww) "Series A, B and E Preferred Directors" shall mean the
           Series C and D Preferred Directors."

          2. The first sentence of Section 2.1(a) is amended and restated in
its entirety to read as follows:

                 "(a) The Board shall consist of ten Directors, (i) one
           Director nominated by David W. Beale (which nominee shall be David
           W. Beale) (the "Company Director") and (ii) nine Directors
           (collectively, the "Series C and D Preferred Directors") nominated
           by holders of a Majority of the Shares of Series C and D Preferred
           Stock."

          3. The second sentence of Section 2.1(a) is amended and restated in
its entirety to read as follows:

                 "The Chairman of the Board shall be a Series C and D
           Preferred Director nominated by the holders of a Majority of the
           Shares of Series C and D Preferred Stock."

          4. Section 2.1(b) is amended and restated in its entirety to read as
follows:

                   "(b) [Intentionally omitted.]"

<PAGE>

          5. The first sentence of Section 2.1(c) is amended and restated in
its entirety to read as follows:

                 "(c) Notwithstanding anything to the contrary
           contained herein, (i) David W. Beale shall have the rights set
           forth herein to nominate the Company Director only so long as he
           maintains Beneficial Ownership of at least 50% of the Common Stock
           Equivalents held by him as of July 29, 1999 and the Beale
           Employment Agreement has not been terminated by the Company for
           Cause (as defined therein); provided, however, that so long as
           David W. Beale is the Chief Executive Officer of the Company he
           shall serve as a Director and (ii) the holders of a Majority of the
           Shares of Series C and D Preferred Stock shall have the rights set
           forth herein to nominate the Series C and D Preferred Directors and
           to designate the Chairman of the Board, and the Series C and D
           Preferred Directors shall have the right to nominate members of the
           Committees described in Section 2.3 hereof, only so long as the
           Qualifying Series C and D Beneficial Holders maintain Beneficial
           Ownership of at least 20% of the Series C and D Adjusted Fully
           Diluted Capitalization."

          6. The second sentence of Section 2.1(c) is amended and restated in
its entirety to read as follows:

                 "If either David W. Beale or the Series C and D Holders loses
           the right to designate Director(s), the Director(s) which such
           Securityholder had been entitled to designate shall promptly resign
           and the vacancy or vacancies, as the case may be, created by such
           resignation(s) shall be filled by the stockholders of the Company
           voting at a special or general meeting or by written consent in
           lieu of any such meeting at any time after the consummation of the
           transaction or occurrence of the event in which either David W.
           Beale or the Series C and D Holders lost the right to designate
           Director(s)."

          7. Section 2.1(d) is amended and restated in its entirety to read as
follows:

                 "(d) [Intentionally omitted.]"

          8. Section 2.1(e) is amended and restated in its entirety to read as
follows:

                 "(e) [Intentionally omitted.]"

          9. Section 2.1(g) is amended and restated in its entirety to read as
follows:

<PAGE>

                 "(g) Term. Each of the Company Director and the Series C and
                      ----
           D Preferred Directors shall hold office as a Director of the
           Company for a term of one year."

          10. The language preceding clause (i) contained in Section 2.2 is
amended and restated in its entirety to read as follows:

                 "No Securityholder shall vote any Shares, and no Director
           shall vote, in favor of the removal of a Director designated by
           David W. Beale or the Series C and D Holders unless"

          11. The first sentence of Section 2.3(a) is amended and restated in
its entirety to read as follows:

                 "(a) The Executive Committee of the Board shall consist of
           the following five Directors: (i) the Company Director and (ii)
           four Directors nominated by the Series C and D Preferred
           Directors."

          12. The first sentence of Section 2.3(b) is amended and restated in
its entirety to read as follows:

                 "(b) The Audit Committee of the Board shall consist of four
           Directors nominated by the Series C and D Preferred Directors, at
           least two of whom shall not be officers or employees of the
           Company."

          13. The first sentence of Section 2.3(c) is amended and restated in
its entirety to read as follows:

                 "(c) The Compensation Committee of the Board shall consist of
           the four Directors nominated by the Series C and D Preferred
           Directors, at least two of whom shall not be officers or employees
           of the Company."

          14. The last sentence of Section 2.6 is deleted in its entirety.

<PAGE>

          15. The first sentence of Section 3.1 is amended and restated in its
entirety to read as follows:

                 "None of the following actions shall be taken by the Company
           or any of its Controlled Affiliates without Super-Majority Approval
           (provided that if at the time of the proposed action the Qualifying
           Series C and D Beneficial Holders do not have aggregate Beneficial
           Ownership of at least 20% of the Series C and D Adjusted Fully
           Diluted Capitalization, then the approval of a majority of the
           Series C and D Preferred Directors shall not be required as part of
           the Super-Majority Approval):"

          16. Notwithstanding the terms and provisions of Section 4.7
including, without limitation, Section 4.7(a), the Beale Put (i) shall apply
solely to Options granted to Beale under the Company's 1999 Stock Option Plan
which remain unvested on the effective date of the termination of Beale's
employment with the Company and (ii) shall be of no further force and effect
with respect to any other Beale Securities.

          17. The terms and provisions of Section 9.17 shall no longer apply
to the JAH Beneficial Holders.

          Except as expressly amended hereby, all of the terms, conditions and
provisions of the Agreement shall remain in full force and effect.

                                   [SIGNATURE PAGES FOLLOW]

<PAGE>

          IN WITNESS WHEREOF, the undersigned have executed or caused the
execution of this Agreement in one or more counterparts as of the date first
above written.

                                    /s/ David W. Beale
                                    ----------------------------------
                                    David W. Beale

                                    RSI I/O HOLDINGS, INC.

                                    By: /s/ Jason M. Barnett
                                       -------------------------------
                                       Name:   Jason M. Barnett
                                       Title:  Vice President

                                    RECKSON SERVICE INDUSTRIES, INC.

                                    By: /s/ Jason M. Barnett
                                       -------------------------------
                                       Name:   Jason M. Barnett
                                       Title:  Executive Vice President

                                    RECKSON OFFICE CENTERS LLC
                                    By: RSI I/O HOLDINGS, INC.
                                           Managing Member

                                    By: /s/ Jason M. Barnett
                                       -------------------------------
                                       Name:   Jason M. Barnett
                                       Title:  Vice President

<PAGE>

                                    INTEROFFICE SUPERHOLDINGS LLC
                                    By: RSI I/O HOLDINGS, INC.
                                           Managing Member

                                    By: /s/ Jason M. Barnett
                                       -------------------------------
                                       Name:   Jason M. Barnett
                                       Title:  Vice President

                                    VANTAS INCORPORATED

                                    By: /s/ David W. Beale
                                       --------------------------------
                                       Name:   David W. Beale
                                       Title:  President,
                                               Chief Executive Officer

<PAGE>

                                    /s/ Louis Perlman
                                    ------------------------------------
                                    Louis Perlman

                                    /s/ Wilma Perlman
                                    ------------------------------------
                                    Wilma Perlman

                                    LOUIS PERLMAN IRA ROLLOVER

                                    By:_________________________________
                                       Name:
                                       Title:

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