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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported) January 22, 1997
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SECURITY CAPITAL INDUSTRIAL TRUST
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(Exact Name of Registrant as Specified in its Charter)
Maryland
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(State or Other Jurisdiction of Incorporation)
1-12846 74-2604728
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(Commission File Number) (I.R.S. Employer Identification No.)
14100 East 35th Place, Aurora, Colorado 80011
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(Address of Principal Executive Offices) (Zip Code)
(303) 375-9292
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(Registrant's Telephone Number, Including Area Code)
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ITEM 5. OTHER EVENTS
On January 22, 1997, the Registrant announced that it had received a
proposal to become an internally managed real estate investment trust. This
announcement is filed as an exhibit hereto and is hereby incorporated by
reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99.1 Press Release dated January 22, 1997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SECURITY CAPITAL INDUSTRIAL TRUST
Dated: January 24, 1997 By: /s/ Jeffrey A. Klopf
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Jeffrey A. Klopf
Secretary
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Exhibit 99.1
Press Release
- --For Immediate Release--
SECURITY CAPITAL INDUSTRIAL TRUST
ANNOUNCES
PROPOSAL TO BECOME INTERNALLY MANAGED REIT
January 22, 1997 -- Security Capital Industrial Trust (SCI)(New York Stock
Exchange Symbol: SCN) today announced that it has received a proposal from
Security Capital Group to exchange Security Capital Group's REIT management and
property management companies for SCI common shares. As a result of the
transaction, SCI would become an internally managed REIT, and Security Capital
Group would remain SCI's largest shareholder.
SCI's Board of Trustees has formed a special committee comprised of
independent trustees to review the proposed transaction. The transaction is
subject to approval by the special committee and the full Board of Trustees. If
the board approves the transaction, a proxy statement, subject to review by the
Securities and Exchange Commission, will be mailed to SCI shareholders prior to
a shareholder vote on the proposed transaction.
After the Board of Trustees has voted on this matter, SCI's management will
be available to discuss the transaction.
FOR MORE INFORMATION, CONTACT: K. Dane Brooksher
(303) 375-9292
or
Thomas G. Wattles
(800) 820-0181
