SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
DUKE REALTY INVESTMENTS, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.01
(Title of Class of Securities)
264411 50 5
(CUSIP Number)
THOMAS L. HEFNER
8888 KEYSTONE CROSSING, SUITE 12OO
INDIANAPOLIS, INDIANA 46240
(317) 574-3660
(Name, Address and Telephone Number of
Person Authorized to Receive Notices and Communications)
March 1, 1997
(Date of Event Which Requires
Filing of this Statement)
Page 1 of 4 pages
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CUSIP NO.: 264411 50 5
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(1) Names of reporting persons .................... Thomas L. Hefner
S.S. or I.R.S. Identification Nos. of
above persons ................................. ###-##-####
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(2) Check the appropriate box if a member of a group
(see instructions) (a)
------------
(b) x
------------
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(3) SEC use only ..................................
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(4) Source of Funds (see instructions) ............ OO
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(5) Check if disclosure of legal proceedings is
required pursuant to Items 2(d) or 2(e)........
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(6) Citizenship or place of organization .......... United States
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Number of shares beneficially owned by each reporting
person with:
(7) Sole voting power ....................... 679,783
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(8) Shared voting power ..................... 1,061,058
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(9) Sole dispositive power .................. 679,783
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(10) Shared dispositive power ................ 1,061,058
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(11) Aggregate amount beneficially owned by each
reporting person .............................. 1,740,841
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(12) Check if the aggregate amount in Row (11) excludes
certain shares (see instructions) .............
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(13) Percent of class represented by amount in Row (11) 5.3%
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(14) Type of reporting person (see instructions) .. IN
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Page 2 of 4 pages
ITEM 1(a) SECURITY AND ISSUER
Name of issuer: Duke Realty Investments, Inc.
Address of issuer's principal
executive offices: 8888 Keystone Crossing, Suite 1200
Indianapolis, Indiana 46240
Title of class of securities: Common Stock, par value $.01
ITEM 2 IDENTITY AND BACKGROUND
(a) Name of person filing: Thomas L. Hefner
(b) Residence or business address: 8888 Keystone Crossing,Suite 1200
Indianapolis, Indiana 46240
(c) Present principal occupation and name,
principal business and address where
employment is conducted: President and Chief Executive Officer
Duke Realty Investments, Inc.
Real Estate Development
8888 Keystone Crossing, Suite 1200
Indianapolis, Indiana 46240
(d) During the last five years the person filing this statement
has not been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors).
(e) During the last five years the person filing this statement
has not been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction as a result of
which the person filing this statement was or is subject to a
judgment, decree or final order enjoining future violations of,
or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect to
such laws.
(f) Citizenship: United States
ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The shares were acquired by a merger of Park 100 Investors, Inc.
into Duke Realty Investments, Inc. The consideration provided was
the reporting person's ownership interest in Park 100 Investors,
Inc.
ITEM 4 PURPOSE OF TRANSACTION.
On March 1, 1997, Park 100 Investors, Inc. was merged into Duke
Realty Investments, Inc. The reporting person owned 32% of Park
100 Investors, Inc. and received 123,636 shares as a result of
the merger. The only assets of Park 100 Investors, Inc. prior to
the merger were securities convertible to shares of Duke Realty
Investments, Inc. Accordingly, there was no increase in the
beneficial ownership shares by the reporting person as a result
of the merger. The reporting person has no plans or proposals of
the types described in the instructions to Item 4 of Schedule
13D.
ITEM 5 INTEREST IN SECURITIES OF THE ISSUER.
(a) Amount beneficially owned: 1,740,841
Percent of class: 5.3%
Page 3 of 4 pages
(b) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 679,783
(ii) Shared power to vote or direct the vote:1,061,058*
(iii) Sole power to dispose or to direct the disposition
of: 679,783
(iv) Shared power to dispose or to direct the disposition
of: 1,061,058*
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*Consists of securities owned by DMI Partnership and Park 100
Investors, Inc. which are exchangeable for shares of the issuer's
common stock.
(c) On March 1, 1997, the reporting person acquired 8,521 shares
as a result of a merger of Park 100 Investors, Inc. into Duke
Realty Investments, Inc.
(d) No other person is known to have the right to receive or the
power to direct the receipt of dividends from, or the proceeds from
the sale of, such securities.
(e) Not applicable.
ITEM 6 CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
The reporting person is a limited partner in Duke Realty Limited
Partnership. He is also a shareholder, officer and director of
each of the three corporate partners of DMI Partnership. The
other shareholders of DMI Partnership are John W. Wynne, Thomas
L. Hefner, Daniel C. Staton, Gary A. Burk, David R. Mennel and
Michael Coletta. None of these relationships involve any
contracts, arrangements or understandings with respect to the
acquisition, ownership, voting or disposition of the securities
of the Issuer.
ITEM 7 MATERIAL TO BE FILED AS EXHIBITS.
None.
SIGNATURE.
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Dated: February 12, 1997 /s/ Thomas L. Hefner
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Thomas L. Hefner
Page 4 of 4 pages
