Prospectus Supplement Filed Pursuant to
to Prospectus Dated December 4, 1997 Rules 424(c) and 424(b)(3)
File No. 333-40451
2,971,756 Shares
ARDEN REALTY, INC.
Common Stock
The following table amends and restates in its entirety the table set
forth under the heading "Selling Stockholders" in the Prospectus dated
December 4, 1997 to include certain recent donees of OP Units as Selling
Stockholders.
<TABLE>
<S> <C> <C> <C> <C> <C>
Maximum
Shares Number of
of Common Exchange Shares Aggregate Shares Percentage of
Stock Issuable in of Common Outstanding
Prior the Exchange Stock Owned Common Stock
to the and Available Following the Owned Following
Name Title Exchange for Resale(1) Exchange(1)(2) the Exchange(1)(2)
Richard S. Ziman Chairman and 100 1,338,888(8) 1,338,888(8) 3.49%
Chief Executive
Officer
Curtis J. Ziman(3) 0 27,335(9) 27,335(9) *
Larry D. Ziman(3) 0 27,335(9) 27,335(9) *
Allan W. Ziman(3) 0 27,335(9) 27,335(9) *
Allan W. Ziman 0 44,481 44,481 *
Trustee FBO Jenna
Support Trust(4)
Allan Ziman 0 44,481 44,481 *
Trustee FBO Todd
Support Trust (4)
Phyllis Ziman Cutler(3) 0 27,335(9) 27,335(9) *
Victor J. Coleman President and 0 752,648(10) 752,648(10) 1.96%
Chief Operating
Officer
Mark J. Coleman(5) 0 1,600 1,600 *
Hugh A. Coleman(5) 0 1,600 1,600 *
Alex S. Coleman(5) 0 1,600 1,600 *
Arthur Gilbert(6) 0 471,855(11) 471,855(11) 1.23%
Herbert Glaser 0 30,000(12) 30,000(12) *
Jonathon Glaser 0 4,876 4,876 *
Michele Byer(7) 3,533 51,032(13) 51,032(13) *
American Friends of 0 16,598 16,598 *
the Hebrew University
American Technion Society 0 15,934 15,934 *
Hapsmith-Praxis Partners 0 55,805 55,805 *
CalTwin Investors, L.L.C. 0 26,880 26,880 *
The Jewish Community 0 4,138 4,138 *
Foundation
* Less than 1%
(1) Based on information available to the Company as of
December 18, 1997.
(2) Assumes all OP Units held by the Selling Stockholders
are exchanged for Exchange Shares. Also assumes that
no transactions with respect to the shares of Common
Stock or the OP Units occur other than the exchange.
(3) Curtis J. Ziman, Larry D. Ziman, Allan W. Ziman and
Phyllis Ziman Cutler are the siblings of Richard S.
Ziman, Chairman of the Board and Chief Executive
Officer of the Company.
(4) Jenna Ziman and Todd Ziman are the children of Richard
S. Ziman, Chairman of the Board and Chief Executive
Officer of the Company.
(5) Mark J. Coleman, Hugh A. Coleman and Alex S. Coleman
are brothers of Victor J. Coleman, President and Chief
Operating Officer of the Company.
(6) Former Director of the Company.
(7) Former Secretary of the Company.
(8) Includes (a) 465,118 OP Units representing Mr. Ziman's
60% ownership interest in an entity which holds 775,196
OP Units, (b) 353,212 OP Units held by entities
directly and indirectly owned 100% by Mr. Ziman, (c)
27,334 OP Units representing Mr. Ziman's 20% ownership
interest in a Ziman family partnership which holds
136,674 OP Units, and (d) 493,224 OP Units held by Mr.
Ziman individually.
(9) Represents each of these individuals' 20% ownership
interest in the 136,674 OP Units held by a Ziman family
partnership.
(10) Includes (a) 310,078 OP Units representing Mr.
Coleman's 40% ownership interest in an entity which
holds 775,196 OP Units, (b) 99,458 OP Units held by an
entity 100% owned by Mr. Coleman, and (c) 343,112 OP
Units held by the Victor and Wendy Coleman Family Trust
dated March 26, 1997.
(11) Includes (a) 466,869 OP Units held by The Arthur
Gilbert and Rosalinde Gilbert 1982 Trust, and (b) 4,986
OP Units held by an entity owned 100% by Mr. Gilbert.
(12) Represents the 30,000 OP Units held by an entity owned
100% by Herbert Glaser.
(13) Represents the 51,032 OP Units held by the Michele Byer
Trust.
</TABLE>
THESE SECURITIES HAVE NOT BEEN APPROVED OR
DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION
NOR HAS THE COMMISSION PASSED UPON THE ACCURACY OR
ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO
THE CONTRARY IS A CRIMINAL OFFENSE.
The date of this Supplement is December 19, 1997
