UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this 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 U.S. Realty
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
5/97
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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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 Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock |5/01/97|P | |28,400 |A |$27.9580 |24,192,863 |I | By Security Capital |
| | | | | | | | | Holdings S.A. (a wholly |
| | | | | | | | | owned subsidiary) |
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Common Stock |5/01/97|P | |5,600 |A |$27.7721 |24,192,863 |I | same as above |
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Common Stock |5/02/97|P | |91,300 |A |$28.2750 |24,192,863 |I | same as above |
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Common Stock |5/05/97|P | |50,000 |A |$28.1850 |24,192,863 |I | same as above |
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Common Stock |5/05/97|P | |23,900 |A |$28.2274 |24,192,863 |I | same as above |
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Common Stock |5/06/97|P | |40,000 |A |$28.2422 |24,192,863 |I | same as above |
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Common Stock |5/07/97|P | |54,900 |A |$28.0985 |24,192,863 |I | same as above |
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Common Stock |5/08/97|P | |22,000 |A |$28.1714 |24,192,863 |I | same as above |
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Common Stock |5/13/97|P | |45,000 |A |$28.04 |24,192,863 |I | same as above |
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Common Stock |5/14/97|P | |24,000 |A |$28.2892 |24,192,863 |I | same as above |
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Common Stock |5/15/97|P | |35,600 |A |$28.1337 |24,192,863 |I | same as above |
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Common Stock |5/15/97|P | |148,700 |A |$28.3695 |24,192,863 |I | same as above |
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Common Stock |5/19/97|P | |76,700 |A |$28.3589 |24,192,863 |I | same as above |
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Common Stock |5/20/97|P | |70,000 |A |$28.2702 |24,192,863 |I | same as above |
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Common Stock |5/21/97|P | |26,500 |A |$27.8501 |24,192,863 |I | same as above |
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Common Stock |5/22/97|P | |64,100 |A |$28.0406 |24,192,863 |I | same as above |
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Common Stock |5/23/97|P | |25,900 |A |$28.1604 |24,192,863 |I | same as above |
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Common Stock |5/27/97|P | |33,500 |A |$27.9805 |24,192,863 |I | same as above |
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Common Stock |5/28/97|P | |9,500 |A |$28.0258 |24,192,863 |I | same as above |
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Common Stock |5/29/97|P | |11,500 |A |$28.0491 |24,192,863 |I | same as above |
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Common Stock |5/30/97|P | |62,700 |A |$27.9649 |24,192,863 |I | same as above |
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</TABLE>
<PAGE>
<TABLE>
<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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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 | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
* Security Capital Holdings S.A. purchased shares of Common Stock of
CarrAmerica Realty Corporation in open market transactions on the dates,
in the amounts and for the per share prices listed in Table I above.
SIGNATURE OF REPORTING PERSON
/s/ Paul E. Szurek
Paul E. Szurek, Managing Director, on behalf of
Security Capital U.S. Realty
DATE
June 10, 1997
