<PAGE>
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 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
1. Name and Address of Reporting Person
HRE PROPERTIES
(Last) (First) (Middle)
321 RAILROAD AVENUE
(Street)
GREENWICH CT 06830
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
11/22/96
3. IRS or Social Security Number of Reporting Person (Voluntary)
None.
4. Issuer Name and ticker or Trading Symbol
HRE PROPERTIES (HRE)
5. Relationship of Reporting Person to Issuer (Check all applicable)
/ / Director /X/ 10% Owner
/ / Officer (give title below) / / Other (Specify below)
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing
/X/ Form filed by one reporting person
/ / Form filed by more than one reporting person
<TABLE>
<CAPTION>
Table I -- Non-Derivative Securities Beneficially Owned
1. Title of Security 2. Amount 3. Ownership 4. Nature of
(Instr. 4) of Secu- Form: Indirect
rities Direct Beneficial
Bene- (D) or Ownership
ficially Indirect (Instr. 5)
Owned (I)(Instr. 5) Ownership
(Instr. 4) (Instr. 5)
- -------------------------------- ------------- ---------------- -----------
<S> <C> <C> <C>
COMMON STOCK, no par value 600,000 Shares D
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* IF the form is filed by more than one reporting person, see Instruction
5(b)(v).
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FORM 3 (Continued)
<TABLE>
<CAPTION>
Table II--Derivative Security Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative 2. Date Exercisable 3. Title and Amount of Securities Underlying Derivative
Security (Instr. 4) and Expiration Date Security (Instr. 4)
(Month/Day/Year)
---------------------- -----------------------------------------------------------
Date Amount or
Exercis- Expiration Title Number of
able Date Shares
- ---------------------------------------------- ---------- ---------- ---------------------------------------------- -----------
<S> <C> <C> <C> <C>
<CAPTION>
1. Title of Derivative 4. Conver- 5. Ownership 6. Nature of
Security (Instr. 4) sion or Form of Indirect
Exercise Derivative Beneficial
Price of Security Ownership
Derivative Direct
Security (D) or
Indirect (I)
(Instr. 5)
- ---------------------------------------------- ------------- --------------- --------------
<S> <C> <C> <C>
</TABLE>
Explanation of Responses:
As reported on a Schedule 13D dated November 27, 1996, HRE Properties is the
sole general partner of Countryside Square Limited Partnership and, therefore,
may be deemed to be the indirect beneficial owner of the 600,000 shares of
common stock of HRE Properties held by Countryside Square Limited Partnership.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
NOTE: File three copies of this Form, one of which must be manually
signed. If space provided is insufficient, see Instruction 6
for procedure.
HRE PROPERTIES
By: /s/ Charles J. Urstadt November 27, 1996
--------------------------------------- --------------------------
Name: Charles J. Urstadt Date
Title: Chairman and Chief Executive
Officer
