<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS PURSUANT
TO SECTION 13(f) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES THEREUNDER
Report for the Calendar Year or Quarter Ended March 31, 1999.
- --------------------------------------------------------------------------------
(Please read instructions before preparing form.)
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If amended report check here: [_]
Heitman/PRA Securities Advisors LLC
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Name of Institutional Investment Manager
180 North LaSalle Street, Suite 3600 Chicago IL 60601
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Business Address (Street) (City) (Zip)
Nancy B. Lynn, 312/849-4153, Vice President Compliance
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Name, Phone No., and Title of Person Duly Authorized to Submit This Report.
_________________________________ ATTENTION ____________________________________
Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
________________________________________________________________________________
The institutional investment manager submitting this Form and its attachments
and the person by whom it is signed represent hereby that all information
contained therein is true, correct and complete. It is understood that all
required items, statements and schedules are considered integral parts of this
Form and that the submission of any amendment represents that all unamended
items, statements and schedules remain true, correct and complete as previously
submitted.
Pursuant to the requirements of Securities Exchange Act of 1934, the
undersigned institutional investment manager has caused this report to be signed
on its behalf in the City of Chicago and State of Illinois on the 11th day of
May, 1999.
Heitman/PRA Securities Advisors LLC
-------------------------------------------
(Name of Institutional Investment Manager)
-------------------------------------------
(Manual Signature of Person Duly Authorized
to Submit This Report)
Name and 13F file numbers of ALL Institutional Investment Managers with respect
to which this schedule is filled (other than the one filing this report): (List
in alphabetical order).
13F File Numbers will be assigned to Institutional Investment Managers after
they file their first report.
Name: 13F File No.: Name: 13F File No.:
- ------------------------ ------------- -------------------------- -------------
1. 6.
- ------------------------ ------------- -------------------------- -------------
2. 7.
- ------------------------ ------------- -------------------------- -------------
3. 8.
- ------------------------ ------------- -------------------------- -------------
4. 9.
- ------------------------ ------------- -------------------------- -------------
5. 10.
- ------------------------ ------------- -------------------------- -------------
SEC 1685 (5/91)
<PAGE>
<TABLE>
13F Assets Under Management
MASTER
March 31, 1999
Security Market Value Quantity
- -------------------------------- ----------- --------
<S> <C> <C>
Apartment Investment & Managem $ 2,363,863 65,210
Amli Residential Properties, I $ 6,667,856 323,290
Arden Realty, Inc. $ 16,623,865 747,140
Archstone Communities Trust $ 21,850,417 1,085,735
Avalonbay Communities, Inc. $ 5,744,903 181,657
Bedford Property Investor $ 21,230,411 1,451,652
BRE Properties $ 2,848,555 125,903
Berkshire Realty $ 3,860,169 345,043
Cadillac Fairview Corp. $ 7,225,688 433,000
CenterPoint Properties Trust $ 9,030,844 288,987
Camden Property Trust $ 799,425 32,300
Centertrust Retail Properties $ 14,682,050 1,276,700
$112,928,044
Charles E. Smith Residential R $ 628,575 20,400
Chelsea GCA Realty, Inc. $ 14,034,812 503,491
Crescent Real Estate Equity Co $ 4,740,750 220,500
Developers Diversified Realty $ 17,383,934 1,214,598
EastGroup Properties $ 10,086,413 625,514
Equity Office Properties $ 21,760,001 855,430
Equity Residential Properties $ 19,223,160 466,016
Essex Property Trust Inc. $ 21,537,163 824,389
Excel Legacy Corp. $ 7,882,071 2,292,966
First Washington Realty Trust $ 10,715,513 499,849
Franchise Finance Corp of Am $ 11,587,703 550,158
Home Properties of New York $ 929,625 40,200
$140,509,718
Kilroy Realty $ 16,987,305 828,649
Kimco Realty Corporation $ 14,006,453 379,836
Mack-Cali Realty Corporation $ 26,991,924 918,874
New Plan Excel Realty Trust, I $ 18,545,621 966,547
PS Business Parks Inc./CA $ 6,445,216 293,799
Pan Pacific Realty $ 8,579,658 483,361
Parkway Properties Inc. $ 12,976,736 460,372
Philips International Realty $ 13,062,091 920,676
Prentiss Properties Trust $ 17,956,344 964,099
Prologis Trust $ 12,321,019 601,025
Public Storage, Inc. $ 18,265,300 730,612
$166,137,664
Regency Realty Corp. $ 5,183,550 276,456
Security Capital Group Series $ 19,394,940 1,450,089
Simon Property Group $ 8,452,122 308,050
Sovran Self Storage, Inc. $ 9,518,097 408,283
Storage USA, Inc. $ 507,913 17,900
Taubman Centers, Inc. $ 4,427,040 361,391
Tower Realty Properties Inc. $ 33,312,729 1,759,088
Trizec Hahn Corporation $ 18,825,426 1,024,513
US Restaurant Properties $ 6,125,925 317,200
Walden Residential Props. $ 7,750,911 439,768
Weeks Corporation $ 12,786,346 447,662
$126,284,999
Apartment Investment & Mgmt Co $ 875,600 39,800
Carr America 8.57% $ 1,901,875 89,500
Equity Residential Properties $ 1,959,594 85,900
Health Care Property 7.875% Se $ 6,608,588 288,900
Highwoods Properties-8% Perpet $ 6,951,875 317,800
Prologis Trust 8.54% Series C $ 2,359,059 52,870
Prologis Trust 7.92% Series D $ 4,052,250 180,100
Taubman Centers Inc. 8.3% Seri $ 14,400,088 665,900
Vornado Realty Trust 6.5% Seri $ 19,255,775 392,975
58,364,703
13F Assets Under Management
soleinvs
March 31, 1999
Security Quantity
- -------------------------------- ---------
Apartment Investment & Managem 65,210
Amli Residential Properties, I 323,290
Arden Realty, Inc. 747,140
Archstone Communities Trust 1,085,735
Avalonbay Communities, Inc. 181,657
Bedford Property Investor 1,451,652
BRE Properties 125,903
Berkshire Realty 345,043
Cadillac Fairview Corp. 433,000
CenterPoint Properties Trust 288,987
Camden Property Trust 32,300
Centertrust Retail Properties 1,276,700
Charles E. Smith Residential R 20,400
Chelsea GCA Realty, Inc. 503,491
Crescent Real Estate Equity Co 220,500
Developers Diversified Realty 1,214,598
EastGroup Properties 625,514
Equity Office Properties 855,430
Equity Residential Properties 466,016
Essex Property Trust Inc. 824,389
Excel Legacy Corp. 2,292,966
First Washington Realty Trust 499,849
Franchise Finance Corp of Am 550,158
Home Properties of New York 40,200
Kilroy Realty 828,649
Kimco Realty Corporation 379,836
Mack-Cali Realty Corporation 918,874
New Plan Excel Realty Trust, I 966,547
PS Business Parks Inc./CA 293,799
Pan Pacific Realty 483,361
Parkway Properties Inc. 460,372
Philips International Realty 920,676
Prentiss Properties Trust 964,099
Prologis Trust 601,025
Public Storage, Inc. 730,612
Regency Realty Corp. 276,456
Security Capital Group Series 1,450,089
Simon Property Group 308,050
Sovran Self Storage, Inc. 408,283
Storage USA, Inc. 17,900
Taubman Centers, Inc. 361,391
Tower Realty Properties Inc. 1,759,088
Trizec Hahn Corporation 1,024,513
US Restaurant Properties 317,200
Walden Residential Props. 439,768
Weeks Corporation 447,662
Apartment Investment & Mgmt Co 39,800
Carr America 8.57% 89,500
Equity Residential Properties 85,900
Health Care Property 7.875% Se 288,900
Highwoods Properties-8% Perpet 317,800
Prologis Trust 8.54% Series C 52,870
Prologis Trust 7.92% Series D 180,100
Taubman Centers Inc. 8.3% Seri 665,900
Vornado Realty Trust 6.5% Seri 392,975
13F Assets Under Management
SOLEVOTE
March 31, 1999
Security Quantity
- -------------------------------- ---------
Apartment Investment & Managem 64,110
Amli Residential Properties, I 320,990
Arden Realty, Inc. 738,740
Archstone Communities Trust 1,074,331
Avalonbay Communities, Inc. 180,457
Bedford Property Investor 1,434,652
BRE Properties 124,413
Berkshire Realty 340,743
Cadillac Fairview Corp. 426,800
CenterPoint Properties Trust 286,287
Camden Property Trust 32,300
Centertrust Retail Properties 1,256,100
Charles E. Smith Residential R 20,400
Chelsea GCA Realty, Inc. 497,491
Crescent Real Estate Equity Co 217,300
Developers Diversified Realty 1,202,198
EastGroup Properties 619,004
Equity Office Properties 362,201
Equity Residential Properties 460,944
Essex Property Trust Inc. 815,589
Excel Legacy Corp. 2,265,559
First Washington Realty Trust 494,249
Franchise Finance Corp of Am 543,658
Home Properties of New York 40,200
Kilroy Realty 819,049
Kimco Realty Corporation 376,036
Mack-Cali Realty Corporation 908,774
New Plan Excel Realty Trust, I 956,487
PS Business Parks Inc./CA 289,699
Pan Pacific Realty 477,761
Parkway Properties Inc. 455,472
Philips International Realty 909,476
Prentiss Properties Trust 958,199
Prologis Trust 593,105
Public Storage, Inc. 722,688
Regency Realty Corp. 273,156
Security Capital Group Series 1,432,689
Simon Property Group 303,450
Sovran Self Storage, Inc. 403,983
Storage USA, Inc. 17,900
Taubman Centers, Inc. 357,491
Tower Realty Properties Inc. 1,738,688
Trizec Hahn Corporation 1,012,913
US Restaurant Properties 313,400
Walden Residential Props. 434,768
Weeks Corporation 442,262
Apartment Investment & Mgmt Co 39,800
Carr America 8.57% 89,500
Equity Residential Properties 85,900
Health Care Property 7.875% Se 286,100
Highwoods Properties-8% Perpet 312,500
Prologis Trust 8.54% Series C 51,770
Prologis Trust 7.92% Series D 176,500
Taubman Centers Inc. 8.3% Seri 656,300
Vornado Realty Trust 6.5% Seri 387,775
13F Assets Under Management
NOVOTE
March 31, 1999
Security Quantity
- -------------------------------- --------
Apartment Investment & Managem 1,100
Amli Residential Properties, I 2,300
Arden Realty, Inc. 8,400
Archstone Communities Trust 11,404
Avalonbay Communities, Inc. 1,200
Bedford Property Investor 17,000
BRE Properties 1,490
Berkshire Realty 4,300
Cadillac Fairview Corp. 6,200
CenterPoint Properties Trust 2,700
Centertrust Retail Properties 20,600
Chelsea GCA Realty, Inc. 6,000
Crescent Real Estate Equity Co 3,200
Developers Diversified Realty 12,400
EastGroup Properties 6,510
Equity Office Properties 493,229
Equity Residential Properties 5,072
Essex Property Trust Inc. 8,800
Excel Legacy Corp. 27,407
First Washington Realty Trust 5,600
Franchise Finance Corp of Am 6,500
Kilroy Realty 9,600
Kimco Realty Corporation 3,800
Mack-Cali Realty Corporation 10,100
New Plan Excel Realty Trust, I 10,060
PS Business Parks Inc./CA 4,100
Pan Pacific Realty 5,600
Parkway Properties Inc. 4,900
Philips International Realty 11,200
Prentiss Properties Trust 5,900
Prologis Trust 7,920
Public Storage, Inc. 7,924
Regency Realty Corp. 3,300
Security Capital Group Series 17,400
Simon Property Group 4,600
Sovran Self Storage, Inc. 4,300
Taubman Centers, Inc. 3,900
Tower Realty Properties Inc. 20,400
Trizec Hahn Corporation 11,600
US Restaurant Properties 3,800
Walden Residential Props. 5,000
Weeks Corporation 5,400
Health Care Property 7.875% Se 2,800
Highwoods Properties-8% Perpet 5,300
Prologis Trust 8.54% Series C 1,100
Prologis Trust 7.92% Series D 3,600
Taubman Centers Inc. 8.3% Seri 9,600
Vornado Realty Trust 6.5% Seri 5,200
</TABLE>
<PAGE>
FORM 13F
Page 1 of 5 Name of Reporting Manager:
Heitman/PRA Securities Advisors LLC
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<TABLE>
<CAPTION>
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/4/ Item 5:
Item 1: Item 2: Item 3: Item 4: Shares of
Name of Issuer Title of Class CUSIP Number Fair Market Value Principal Amount
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Amli Residential common shares 001735109 $ 6,668,000 323,290
Properties, Inc. beneficial
interest
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Apartment Investment & Common Stock 03748R101 $ 2,364,000 65,210
Management Company
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Archstone Communities Trust Common Stock 039581103 $ 21,850,000 1,085,735
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Arden Realty Common Stock 039793104 $ 16,624,000 747,140
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Avalonbay Communities, Inc. Common Stock 053484101 $ 5,745,000 181,657
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Bedford Property Common 076446301 $ 21,230,000 1,451,652
Investor Stock
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BRE Properties Shares of Class 05564E106 $ 2,849,000 125,903
A Common Stock
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Berkshire Realty Common Stock 084710102 $ 3,860,000 345,043
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Cadillac Fairview Corp. common shares 126929207 $ 7,226,000 433,000
beneficial
interest
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Camden Property Trust common shares 12486R108 $ 799,000 32,300
beneficial
interest
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CenterPoint Properties Trust Common Stock 151895109 $ 9,031,000 288,987
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Centertrust Retail Properties Common Stock 152038105 $ 14,682,000 1,276,700
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COLUMN TOTALS Subtotal $112,928,000
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</TABLE>
<TABLE>
<CAPTION>
(SEC USE ONLY)
- ------------------------------------------------------------------------------------------------------------------------------------
Item 6: Item 8:
Item 1: Investment Discretion Item 7: Voting Authority (Shares)
Name of Issuer ---------------------------- Managers ---------------------------------
(b) Shared- (c) See Instr. V (a) Sole (b) Shared (c) None
(a) Sole As Defined Shared
in Instr. V Other
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Amli Residential 323,290 320,990 2,300
Properties, Inc.
- ------------------------------------------------------------------------------------------------------------------------------------
Apartment Investment & 65,210 64,110 1,100
Management Company
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Archstone Communities Trust 1,085,735 1,074,331 11,404
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Arden Realty 747,140 738,740 8,400
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Avalonbay Communities, Inc. 181,657 180,457 1,200
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Bedford Property Investor 1,451,652 1,434,652 17,000
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BRE Properties 125,903 124,413 1,490
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Berkshire Realty 345,043 340,743 4,300
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Cadillac Fairview Corp. 433,000 426,800 6,200
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Camden Property Trust 32,300 32,300
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CenterPoint Properties Trust 288,987 286,287 2,700
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Centertrust Retail Properties 1,276,700 1,256,100 20,600
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COLUMN TOTALS
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</TABLE>
<PAGE>
FORM 13F
Page 2 of 5 Name of Reporting Manager:
Heitman/PRA Securities Advisors LLC
-----------------------------------
<TABLE>
<CAPTION>
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/4/ Item 5:
Item 1: Item 2: Item 3: Item 4: Shares of
Name of Issuer Title of Class CUSIP Number Fair Market Value Principal Amount
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Charles E. Smith Residential Common Stock 832197107 $ 629,000 20,400
Realty Inc.
- ------------------------------------------------------------------------------------------------------------------------------------
Chelsea GCA Realty, Inc. Common Stock 163262108 $ 14,035,000 503,491
- ------------------------------------------------------------------------------------------------------------------------------------
Crescent Real Estate Equity Common Stock 225756105 $ 4,741,000 220,500
Company
- ------------------------------------------------------------------------------------------------------------------------------------
Developers Diversified Common Stock 251591103 $ 17,384,000 1,214,598
Realty Corp.
- ------------------------------------------------------------------------------------------------------------------------------------
EastGroup Properties Common Stock 277276101 $ 10,086,000 625,514
- ------------------------------------------------------------------------------------------------------------------------------------
Equity Office Properties common shares 294741103 $ 21,760,000 855,430
beneficial
interest
- ------------------------------------------------------------------------------------------------------------------------------------
Equity Residential Properties common shares 29476L107 $ 19,223,000 466,016
Trust beneficial
interest
- ------------------------------------------------------------------------------------------------------------------------------------
Essex Property Trust, Common 297178105 $ 21,537,000 824,389
Inc. Stock
- ------------------------------------------------------------------------------------------------------------------------------------
Excel Legacy Corp. Common Stock 300665106 $ 7,882,000 2,292,966
- ------------------------------------------------------------------------------------------------------------------------------------
First Washington Common 337489504 $ 10,716,000 499,849
Realty Trust Stock
- ------------------------------------------------------------------------------------------------------------------------------------
Franchise Finance Corp of Common Stock 351807102 $ 11,588,000 550,158
America
- ------------------------------------------------------------------------------------------------------------------------------------
Home Properties of New York Common 437306103 $ 930,000 40,200
Stock
- ------------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS Subtotal $140,511,000
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</TABLE>
<TABLE>
<CAPTION>
(SEC USE ONLY)
- ------------------------------------------------------------------------------------------------------------------------------------
Item 6: /5/ Item 8:
Item 1: Investment Discretion Item 7: Voting Authority (Shares)
Name of Issuer ---------------------------------- Managers ---------------------------------
(b) Shared- (c) See Instr. V (a) Sole (b) Shared (c) None
(a) Sole As Defined Shared
in Instr. V Other
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Charles E. Smith Residential 20,400 20,400
Realty Inc.
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Chelsea GCA Realty, Inc. 503,491 497,491 6,000
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Crescent Real Estate Equity 220,500 217,300 3,200
Company
- ------------------------------------------------------------------------------------------------------------------------------------
Developers Diversified 1,214,598 1,202,198 12,400
Realty Corp.
- ------------------------------------------------------------------------------------------------------------------------------------
EastGroup Properties 625,514 619,004 6,510
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Equity Office Properties 855,430 362,201 493,229
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Equity Residential Properties 466,016 460,944 5,072
Trust
- -----------------------------------------------------------------------------------------------------------------------------------
Essex Property Trust, 824,389 815,589 8,800
Inc.
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Excel Legacy Corp. 2,292,966 2,265,559 27,407
- ------------------------------------------------------------------------------------------------------------------------------------
First Washington 499,849 494,249 5,600
Realty Trust
- ------------------------------------------------------------------------------------------------------------------------------------
Franchise Finance Corp of 550,158 543,658 6,500
America
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Home Properties of New York 40,200 40,200
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COLUMN TOTALS
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</TABLE>
<PAGE>
FORM 13F
Page 3 of 5 Name of Reporting Manager:
Heitman/PRA Securities Advisors LLC
-----------------------------------
<TABLE>
<CAPTION>
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/4/ Item 5:
Item 1: Item 2: Item 3: Item 4: Shares of
Name of Issuer Title of Class CUSIP Number Fair Market Value Principal Amount
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Kilroy Realty Common Stock 49427F108 $ 16,987,000 828,649
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Kimco Realty Corporation Common Stock 49446R109 $ 14,006,000 379,836
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Mack-Cali Realty Corp. Common Stock 554489104 $ 26,992,000 918,874
- ------------------------------------------------------------------------------------------------------------------------------------
New Plan Excel Realty Trust, Common Stock 648053106 $ 18,546,000 966,547
Inc.
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PS Business Parks Inc./CA Common Stock 69360J107 $ 6,445,000 293,799
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Pan Pacific Realty Common Stock 69806L104 $ 8,580,000 483,361
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Parkway Properties Inc. Common Stock 70159Q104 $ 12,977,000 460,372
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Philips International Realty Common Stock 718333107 $ 13,062,000 920,676
- ------------------------------------------------------------------------------------------------------------------------------------
Prentiss Properties Trust common shares 740706106 $ 17,956,000 964,099
beneficial
interest
- ------------------------------------------------------------------------------------------------------------------------------------
Prologis Trust Common Stock 743410102 $ 12,321,000 601,025
- ------------------------------------------------------------------------------------------------------------------------------------
Public Storage, Inc. Common Stock 74460D109 $ 18,265,000 730,612
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COLUMN TOTALS Subtotal $166,137,000
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</TABLE>
<TABLE>
<CAPTION>
(SEC USE ONLY)
- ------------------------------------------------------------------------------------------------------------------------------------
Item 6: /5/ Item 8:
Item 1: Investment Discretion Item 7: Voting Authority (Shares)
Name of Issuer ---------------------------- Managers ---------------------------------
(b) Shared- (c) See Instr. V (a) Sole (b) Shared (c) None
(a) Sole As Defined Shared
in Instr. V Other
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Kilroy Realty 828,649 819,049 9,600
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Kimco Realty Corporation 379,836 376,036 3,800
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Mack-Cali Realty Corp. 918,874 908,774 10,100
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New Plan Excel Realty Trust, 966,547 956,487 10,060
Inc.
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PS Business Parks Inc./CA 293,799 289,699 4,100
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Pan Pacific Realty 483,361 477,761 5,600
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Parkway Properties Inc. 460,372 455,472 4,900
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Philips International Realty 920,676 909,476 11,200
- ------------------------------------------------------------------------------------------------------------------------------------
Prentiss Properties Trust 964,099 958,199 5,900
- ------------------------------------------------------------------------------------------------------------------------------------
Prologis Trust 601,025 593,105 7,920
- ------------------------------------------------------------------------------------------------------------------------------------
Public Storage, Inc. 730,612 722,688 7,924
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COLUMN TOTALS
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</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page 4 of 5 Name of Reporting Manager: Heitman/PRA Securities Advisors LLC
------------------------------------
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/4/ Item 5:
Item 1: Item 2: Item 3: Item 4: Shares of
CUSIP Fair Market Principal
Name of Issuer Title of Class Number Value Amount
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Regency Realty Corp. Common 758939102 $ 5,184,000 276,456
Stock
- ----------------------------------------------------------------------------------------------------------------------
Security Capital Group, Inc. Common 81413P204 $ 19,395,000 1,450,089
Stock
- ----------------------------------------------------------------------------------------------------------------------
Simon Property Group Common 828806109 $ 8,452,000 308,050
Stock
- ----------------------------------------------------------------------------------------------------------------------
Sovran Self Storage, Inc. Common 84610H108 $ 9,518,000 408,283
Stock
- ----------------------------------------------------------------------------------------------------------------------
Storage USA., Inc. Common 861907103 $ 508,000 17,900
Stock
- ----------------------------------------------------------------------------------------------------------------------
Taubman Centers, Inc. Common 87666410 $ 4,427,000 361,391
Stock
- ----------------------------------------------------------------------------------------------------------------------
Tower Realty Properties Inc. Common 89185E109 $ 35,313,000 1,759,088
Stock
- ----------------------------------------------------------------------------------------------------------------------
Trizec Hahn Corporation Common 896938107 $ 18,825,000 1,024,513
Stock
- ----------------------------------------------------------------------------------------------------------------------
US Restaurant Properties Common 902971100 $ 6,126,000 317,200
Stock
- ----------------------------------------------------------------------------------------------------------------------
Walden Residential Properties Common 931210108 $ 7,751,000 439,768
Stock
- ----------------------------------------------------------------------------------------------------------------------
Weeks Corporation Common 94856P102 $ 12,786,000 447,662
Stock
- ----------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS Subtotal $128,285,000
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
------------------
(SEC USE ONLY)
- --------------------------------------------------------------------------------------------------------------------------------
Item 6: /5/ Item 8:
Investment Item 7: Managers Voting Authority (Shares)
Discretion See Instr. V
------------------------------------------------------------------------------------------
Item 1: (b) Shared- (c) (a) Sole (b) (c) None
(a) Sole As Defined Shared- Shared
Name of Issuer in Instr. V Other
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Regency Realty Corp. 276,456 273,156 3,300
- --------------------------------------------------------------------------------------------------------------------------------
Security Capital Group, Inc. 1,450,089 1,432,689 17,400
- --------------------------------------------------------------------------------------------------------------------------------
Simon Property Group 308,050 303,450 4,600
- --------------------------------------------------------------------------------------------------------------------------------
Sovran Self Storage, Inc. 408,283 403,983 4,300
- --------------------------------------------------------------------------------------------------------------------------------
Storage USA., Inc. 17,900 17,900
- --------------------------------------------------------------------------------------------------------------------------------
Taubman Centers, Inc. 361,391 357,491 3,900
- --------------------------------------------------------------------------------------------------------------------------------
Tower Realty Properties Inc. 1,759,088 1,738,688 20,400
- --------------------------------------------------------------------------------------------------------------------------------
Trizec Hahn Corporation 1,024,513 1,012,913 11,600
- --------------------------------------------------------------------------------------------------------------------------------
US Restaurant Properties 317,200 313,400 3,800
- --------------------------------------------------------------------------------------------------------------------------------
Walden Residential Properties 439,768 434,768 5,000
- --------------------------------------------------------------------------------------------------------------------------------
Weeks Corporation 447,662 442,262 5,400
- --------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
FORM 13F
Page 5 of 5 Name of Reporting Manager:
Heitman/PRA Securities Advisors LLC
-----------------------------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
/4/ Item 5:
Item 1: Item 2: Item 3: Item 4: Shares of
Name of Issuer Title of Class CUSIP Number Fair Market Value Principal Amount
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Apartment Investment & Cumulative 03748R200 $ 876,000 39,800
Mgmt. Co. Series C Preferred Stock
- ------------------------------------------------------------------------------------------------------------------------------------
Carr America 8.57% Series B Cumulative 144418209 $ 1,902,000 89,500
Redeemable
Preferred Stock
- ------------------------------------------------------------------------------------------------------------------------------------
Equity Residential Cumulative 29476L792 $ 1,960,000 89,900
Properties 7.625% Series L Redeemable
Preferred Stock
- ------------------------------------------------------------------------------------------------------------------------------------
Health Care Property Cumulative 421915307 $ 6,609,000 288,900
7.875% Series A Redeemable
Preferred Stock
- ------------------------------------------------------------------------------------------------------------------------------------
Highwoods Properties Cumulative 431284306 $ 6,952,000 317,800
8% Perpetual Pfd. Series C Redeemable
Preferred Stock
- ------------------------------------------------------------------------------------------------------------------------------------
Prologis Trust 8.54% Series C Cumulative 743410409 $ 2,359,000 52,870
preferred shares
of beneficial
interest
- ------------------------------------------------------------------------------------------------------------------------------------
Prologis Trust 7.92% Series D Cumulative 743410508 $ 4,052,000 180,100
preferred shares
of beneficial
interest
- ------------------------------------------------------------------------------------------------------------------------------------
Taubman Centers, Inc. Cumulative 876664202 $ 14,400,000 665,900
8.3% Series A Redeemable
Preferred Stock
- ------------------------------------------------------------------------------------------------------------------------------------
Vornado Realty Trust Convertible 929042208 $ 19,256,000 392,975
6.5% Series A preferred shares
of beneficial
interest
- ------------------------------------------------------------------------------------------------------------------------------------
Subtotal $ 58,366,000
- ------------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS Total of
pages 1-5 $606,227,000
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
(SEC USE ONLY)
- ------------------------------------------------------------------------------------------------------------------------------------
Item 6: /5/ Item 8:
Item 1: Investment Discretion Item 7: Voting Authority (Shares)
Name of Issuer ---------------------------- Managers ---------------------------------
(b) Shared- (c) See Instr. V (a) Sole (b) Shared (c) None
(a) Sole As Defined Shared
in Instr. V Other
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Apartment Investment & 39,800 39,800
Mgmt. Co. Series C
- ------------------------------------------------------------------------------------------------------------------------------------
Carr America 8.57% Series B 89,500 89,500
- ------------------------------------------------------------------------------------------------------------------------------------
Equity Residential 85,900 85,900
Properties 7.625% Series L
- ------------------------------------------------------------------------------------------------------------------------------------
Health Care Property 288,900 286,100 2,800
7.875% Series A
- ------------------------------------------------------------------------------------------------------------------------------------
Highwoods Properties 317,800 312,500 5,300
8% Perpetual Pfd. Series C
- ------------------------------------------------------------------------------------------------------------------------------------
Prologis Trust 8.54% Series C 52,870 51,770 1,100
- ------------------------------------------------------------------------------------------------------------------------------------
Prologis Trust 7.92% Series D 180,100 176,500 3,600
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Taubman Centers, Inc. 665,900 656,300 9,600
8.3% Series A
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Vornado Realty Trust 392,975 387,775 5,200
6.5% Series A
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COLUMN TOTALS
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</TABLE>
