FORM 5
[ ] Check box if no longer subject in Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange 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*
SAIONTZ STEVE
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(Last) (First) (Middle)
760 N.W. 107TH AVENUE
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(Street)
MIAMI FL 33172
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
LNR PROPERTY CORPORATION / LNR
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3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
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4. Statement for Month/Year NOVEMBER 1998
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
CHIEF EXECUTIVE OFFICER
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7. Individual or Joint/Group Reporting
check applicable line
_____ Form Filed by One Reporting Person
_____ Form Filed by More than One Reporting Person
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<TABLE>
<CAPTION>
TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<S> <C> <C> <C> <C> <C> <C>
5. Amount of Securities 6. Ownership 7. Nature of
Beneficially Owned Form: Indirect
1. Title of 2. Transaction 3. Transaction 4. Securities Acquired (A) at End of Issuer's Direct (D) or Beneficial
Security Date Code or Disposed of (D) Fiscal Year Indirect (I) Ownership
(Instr. 3) (Month/Day/Year) (Instr. 8) (Instr. 3, 4, and 5) (Instr. 3 and 4) (Instr. 4) (Instr. 4)
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Amount (A) or Price
(D)
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COMMON STOCK 3/25/98 J 121 D 24.8125 I BY ESOP Trust
COMMON STOCK 3/25/98 J 121 A 24.8125 4,384 I BY IRA Trust
COMMON STOCK various J 5 A various 2,264 I BY ESOP Trust
COMMON STOCK N/A N/A N/A N/A N/A 95,000 D
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</TABLE>
* If the form is filed by more than one reporting person,
see instruction 4(b)(v).
Note: Code J--Two transactions are being reported above for the ESOP plan
therefore the ending balance for ESOP shares is only reported once.
<PAGE>
FORM 5 (CONTINUED)
<TABLE>
<CAPTION>
TABLE II-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C>
5. Number of Derivative
Securities Acquired (A)
1. Title of Derivative 2. Conversion or Exercise 3. Transaction Date 4. Transaction or Disposed of (D)
Security (Instr. 3) Price of Derivative Security (Month/Day/Year) Code (Instr. 8) (Instr. 3, 4, and 5)
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(A) (D)
Code / V
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COMMON STOCK OPTIONS 3.9800 N/A N/A N/A N/A
COMMON STOCK OPTIONS 3.9800 N/A N/A N/A N/A
COMMON STOCK OPTIONS 24.8125 N/A N/A N/A N/A
</TABLE>
<TABLE>
<CAPTION>
TABLE II-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALY OWNED--(CONTINUED)
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C>
10. Ownership of
7. Title and Derivative 11. Nature of
Amount of 8. Price of 9. Number of Security: Indirect
6. Date Exercisable Underlying Derivative Derivative Securities Direct (D) or Beneficial
and Expiration Date Securities Security Beneficially Owned at Indirect (I) Ownership
(Month/Day/Year) (Instr. 3 and 4) (Instr. 5) End of Year (Instr. 4) (Instr. 4) (Instr. 4)
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Amount
Date Expiration or Number
Exercisable Date Title of Shares
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10/31/97 04/02/01 COMMON STOCK OPTIONS 28,773 3.9800 28,773 D
04/02/98 04/02/01 COMMON STOCK OPTIONS 160,310 3.9800 160,310 D
10/31/98 10/31/07 COMMON STOCK OPTIONS 200,000 24.8125 200,000 D
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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
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.
