STORAGE USA INC
SC 13D/A, 1998-01-09
REAL ESTATE INVESTMENT TRUSTS
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                        SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549

                                                

                                   SCHEDULE 13D


                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                                (AMENDMENT NO. 9)


                                STORAGE USA, INC.                       
                                 (Name of Issuer)


                          COMMON STOCK, $0.01 PAR VALUE                 
                          (Title of Class of Securities)

                                   861907 10 3                          
                                  (CUSIP Number)


                                 JEFFREY A. COZAD
                           SECURITY CAPITAL U.S. REALTY
                                 69, ROUTE D'ESCH
                                L-1470 LUXEMBOURG
                                 (352) 48 78 78                         
                  (Name, Address and Telephone Number of Person
                Authorized to Receive Notices and Communications)


                                December 15, 1997                       
             (Date of Event Which Requires Filing of this Statement)


         If the filing person has previously filed a statement on Sche-
         dule 13G to report the acquisition which is the subject of this
         Schedule 13D, and is filing this schedule because of Rule 13d-
         1(b)(3) or (4), check the following box /   /.

         Check the following box if a fee is being paid with this state-
         ment /   /.  (A fee is not required only if the reporting per-
         son:  (1) has a previous statement on file reporting beneficial
         ownership of more than five percent of the class of securities
         described in Item 1; and (2) has filed no amendment subsequent
         thereto reporting beneficial ownership of five percent or less
         of such class.)  (See Rule 13d-7.)

               Note:  Six copies of this statement, including all 
             exhibits, should be filed with the Commission.  See Rule
            13d-1(a) for other parties to whom copies are to be sent.

                          (Continued on following pages)
                                Page 1 of 6 Pages<PAGE>



                                                                          
           CUSIP No. 861907 10 3         13D         Page 2 of 6 Pages
                                                                          
                                                                           
         1    NAME OF PERSON
              SECURITY CAPITAL U.S. REALTY
              S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON


                                                                           
         2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         
                                                                  (a) / /
                                                                         
                                                                  (b) /x/
                                                                           
         3    SEC USE ONLY

                                                                           
         4    SOURCE OF FUNDS*
              BK, OO 
                                                                           
         5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED  
              PURSUANT TO ITEMS 2(d) or 2(e)                        /  /   
                                                                           
         6    CITIZENSHIP OR PLACE OF ORGANIZATION
              LUXEMBOURG
                                                                           
                                  7    SOLE VOTING POWER
             NUMBER OF                 10,598,954  
             SHARES                                                        
             BENEFICIALLY         8    SHARED VOTING POWER
             OWNED BY                  -0-
             EACH                                                          
             REPORTING            9    SOLE DISPOSITIVE POWER
             PERSON                    10,598,954
             WITH                                                          
                                  10   SHARED DISPOSITIVE POWER
                                       -0-
                                                                           
         11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
              10,598,954 
                                                                           
         12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES    
              CERTAIN SHARES*                                       /  /   
                                                                           
         13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
              38.5% 
                                                                           
         14   TYPE OF PERSON REPORTING*
              CO
                                                                           
                        *SEE INSTRUCTIONS BEFORE FILLING OUT<PAGE>



                                                                          
           CUSIP No. 861907 10 3         13D         Page 3 of 6 Pages
                                                                          
                                                                           
         1    NAME OF PERSON
              SECURITY CAPITAL HOLDINGS S.A.
              S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

                                                                           
         2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         
                                                                  (a) / /
                                                                         
                                                                  (b) /x/
                                                                           
         3    SEC USE ONLY

                                                                           
         4    SOURCE OF FUNDS*
              BK, OO 
                                                                           
         5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED  
              PURSUANT TO ITEMS 2(d) or 2(e)                        /  /   
                                                                           
         6    CITIZENSHIP OR PLACE OF ORGANIZATION
              LUXEMBOURG
                                                                           
                                  7    SOLE VOTING POWER
             NUMBER OF                 10,598,954 
             SHARES                                                        
             BENEFICIALLY         8    SHARED VOTING POWER
             OWNED BY                  -0-
             EACH                                                          
             REPORTING            9    SOLE DISPOSITIVE POWER
             PERSON                    10,598,954
             WITH                                                          
                                  10   SHARED DISPOSITIVE POWER
                                       -0-
                                                                           
         11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
              10,598,954 
                                                                           
         12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES    
              CERTAIN SHARES*                                       /  /   
                                                                           
         13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
              38.5% 
                                                                           
         14   TYPE OF PERSON REPORTING*
              CO
                                                                           
                        *SEE INSTRUCTIONS BEFORE FILLING OUT<PAGE>







                  This Amendment No. 9 is filed by Security Capital U.S.
         Realty ("Security Capital U.S. Realty"), a corporation orga-
         nized and existing under the laws of Luxembourg, and by Secu-
         rity Capital Holdings S.A. ("Holdings"), a corporation orga-
         nized and existing under the laws of Luxembourg and a wholly
         owned subsidiary of Security Capital U.S. Realty (together with
         Security Capital U.S. Realty, "USRealty"), and hereby amends
         the Schedule 13D originally filed on March 8, 1996 (as previ-
         ously amended, the "Schedule 13D").

                  This Amendment No. 9 is filed to report the acquisi-
         tion of certain shares of Common Stock since November 20, 1997.
         A schedule identifying all stock market transactions involving
         shares of Common Stock effected by USRealty since November 20,
         1997 is included as Annex A hereto which is incorporated by
         reference herein.  The funds used by USRealty to purchase such
         shares were obtained from drawdowns under the Facility Agree-
         ment and from cash on hand.

         ITEM 1.  SECURITY AND ISSUER.

                  No material change.

         ITEM 2.  IDENTITY AND BACKGROUND.

                  No material change except as set forth above.

         ITEM 3.  SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.

                  No material change.

         ITEM 4.  PURPOSE OF TRANSACTION.

                  No material change except as set forth above.

         ITEM 5.  INTEREST IN SECURITIES OF THE ISSUER.

                  No material change.

                  To the best knowledge and belief of USRealty, no
         transactions involving Common Stock have been effected during
         the past 60 days by USRealty or by its directors, executive of-
         ficers or controlling persons other than as disclosed by the
         Schedule 13D.

         ITEM 6.  CONTRACTS, ARRANGEMENTS, UNDERSTANDING OR RELATION-
                  SHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.

                  No material change except as described above.



                                Page 4 of 6 Pages<PAGE>







         ITEM 7.  MATERIAL TO BE FILED AS EXHIBITS.

                  No additional exhibits are being filed with this
         Amendment No. 9.















































                                Page 5 of 6 Pages<PAGE>








                                    SIGNATURE


                   After reasonable inquiry and to the best of my knowl-
         edge and belief, I certify that the information set forth in
         this statement is true, complete, and correct.

                                       SECURITY CAPITAL U.S. REALTY



                                       By:  /s/ Jeffrey A. Cozad         
                                          Jeffrey A. Cozad
                                          Managing Director



                                       SECURITY CAPITAL HOLDINGS S.A.



                                       By:  /s/ Jeffrey A. Cozad         
                                          Jeffrey A. Cozad
                                          Managing Director

         January 9, 1998
























                                Page 6 of 6 Pages<PAGE>







                                                               ANNEX A



              Recent Stock Market Transactions in the Common Stock
                            by the Reporting Persons



         All of the transactions described below were effected in
         stock market transactions.  The price per share for such
         transactions includes commissions (if any).

         DATE OF                   NUMBER OF              PRICE
         TRANSACTION           SHARES PURCHASED           PER SHARE

         
         12/4/97                     5,000                  $38.94
         
         12/5/97                     5,500                  $38.93
         
         12/9/97                   191,000                  $38.94

         12/12/97                   48,500                  $38.86

         12/15/97                   37,300                  $38.69

         12/22/97                  100,000                  $40.06

         01/06/98                   12,900                  $39.56

         01/07/98                   12,900                  $39.91



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