U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM 4
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Security Capital Holdings S.A.
69, route d'Esch
L-1470 Luxembourg,
2. Issuer Name and Ticker or Trading Symbol
CarrAmerica Realty Corporation
CRE*
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
4/96
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
<TABLE>
<CAPTION>
___________________________________________________________________________________________________________________________________
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Year |ect(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock |4/30/9|P | |11,627,907 |A |$21.47* |11,627,907* |D | |
|6 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<CAPTION>
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Year |(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
* On April 30, 1996, at the closing pursuant to the Stock Purchase
Agreement, dated as of November 5, 1995, by and among Carr Realty
Corporation, Security Capital U.S. Realty and Security Capital Holdings S.A.,
Security Capital Holdings S.A. purchased 11,627,907 shares of Common Stock
of Carr Realty Corporation for an aggregate price of $249,613,870, or
approximately $21.47 per share. As previously reported, the Stock
Purchase Agreement, the transactions contemplated thereby and matters related
thereto are more fully described in a Schedule 13D filed on
November 14, 1995 by Security Capital U.S. Realty and Security Capital Holdings
S.A., as amended by Amendment No. 1 to such Schedule 13D filed
on May 7, 1996 by Security Capital U.S. Realty and Security Capital Holdings
S.A. The 11,627,907 acquired shares represent all of the shares to be
acquired pursuant to the Stock Purchase Agreement. On April 30, 1996, after
the closing, Carr Realty Corporation changed its name to CarrAmerica Realty
Corporation.
/s/ Paul E. Szurek 5/7/96
----------------------------- ------
Signature of Reporting Person Date