<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES AND EXCHANGE ACT OF 1934
Homegate Hospitality, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
43740G 10 9
- --------------------------------------------------------------------------------
(CUSIP Number)
(Continued on following pages)
Page 1 of 4 Pages
<PAGE>
CUSIP NO. 43740G 10 9 13G Page 2 of 4
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JMI/Greystar Extended Stay Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 2,274,992
----------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 0
----------------------------------------------------------------
OWNED BY 7 SOLE DISPOSITIVE POWER
EACH 2,274,992
----------------------------------------------------------------
REPORTING 8 SHARED DISPOSITIVE POWER
PERSON 0
WITH
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,274,992
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (10) EXCLUDES CERTAIN
SHARES*
[_]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (10)
21.21%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
<PAGE>
CUSIP NO. 43740G 10 9 13G Page 3 of 4
Item 1.
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
111 Congress Avenue, Suite 2600
Austin, Texas 78701
Item 2.
(a) NAME OF PERSON FILING:
JMI/Greystar Extended Stay Partners, L.P.
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
c/o Greystar Holdings, Inc.
Two Riverway, Suite 850
Houston, Texas 77056
(c) CITIZENSHIP:
United States of America
(d) TITLE OF CLASS OF SECURITIES:
Common Stock, $.01 per value
(e) CUSIP NUMBER:
43740G 10 9
Item 3. NOT APPLICABLE
Item 4. OWNERSHIP:
(a) Amount Beneficially Owned: 2,274,992
(b) Percent of Class: 21.21%
(c) Number of shares as to which such person has:
(i) sole power to direct the vote: 2,274,992
(ii) shared power to direct the vote: 0
(iii) sole power to dispose or direct the disposition of: 2,274,992
(iv) shared power to dispose or direct the disposition of: 0
Item 5. NOT APPLICABLE
Item 6. NOT APPLICABLE
Item 7. NOT APPLICABLE
Item 8. NOT APPLICABLE
Item 9. NOT APPLICABLE
Item 10. NOT APPLICABLE
<PAGE>
CUSIP NO. 43740G 10 9 13G Page 4 of 4
SIGNATURE
---------
After reasonable inquiry and to the best of my knowledge and belief, I set
forth that the information set forth in this statement is true, complete and
correct.
DATED: February 14, 1997
JMI/GREYSTAR EXTENDED STAY PARTNERS, L.P.
By: Greystar Holdings, Inc., as general
partner
By: /s/ Robert A. Faith
--------------------------------------------
Name: Robert A. Faith
Title: President
