FORM 3
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchanges Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Carlos de la Cruz
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2. Date of Event Requiring Statement
10/31/97
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3. IRS or Social Security Number of Reporting Person
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4. Issuer Name and Ticker or Trading Symbol
LNR Property Corporation LNR
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5. Relationship of Reporting Person to Issuer
/X/ Director / / 10% Owner
/ / Officer--Chief Executive Officer
/ / Other
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6. If Amendment, Date of Original
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<TABLE>
<CAPTION>
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TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
3. OWNERSHIP FORM:
2. AMOUNT OF SECURITIES DIRECT (D) OR 4. NATURE OF INDIRECT
1. TITLE OF SECURITY BENEFICIALLY OWNED INDIRECT (I) BENEFICIAL OWNERSHIP
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<S> <C> <C> <C>
N/A
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</TABLE>
<PAGE>
<TABLE>
<CAPTION>
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TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
3. TITLE AND AMOUNT OF SECURITIES
2. DATE EXERCISABLE AND UNDERLYING DERIVATIVE SECURITY
EXPIRATION DATE --------------------------------- 6. NATURE OF
1. TITLE OF ------------------------ AMOUNT OR 4. CONVERSION INDIRECT
DERIVATIVE DATE EXPIRATION NUMBER OF OR EXERCISE 5. OWNERSHIP BENEFICIAL
SECURITY EXERCISABLE DATE TITLE SHARES PRICE OF FORM OF OWNERSHIP
- -------------------- ----------- ---------- -------------------- --------- -------------- ------------ -------------
<S> <C> <C> <C> <C> <C> <C> <C>
N/A
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</TABLE>
Explanation of Responses:
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/S/
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**Signature of Reporting Person Date
