JDN REALTY CORP
SC 13G/A, 1999-02-05
REAL ESTATE INVESTMENT TRUSTS
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<PAGE>   1

                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549
                                       

                                SCHEDULE 13G/A
                                       
                                       
                   UNDER THE SECURITIES EXCHANGE ACT OF 1934
                            (Amendment No.      )*
                                            
                                       
                                       
                            JDN REALTY CORPORATION
                   -----------------------------------------
                               (Name of Issuer)
                                       
                                       
                                       
                                       
                                 Common Stock
                   -----------------------------------------
                        (Title of Class of Securities)
                                       
                                       
                                       
                                       
                                 465917-10-2
                   -----------------------------------------
                                (CUSIP Number)
                                       



*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).




                              Page 1 of 4 pages


<PAGE>   2
CUSIP NO. 465917-10-2                       13G        PAGE   2   OF   4   PAGES
         ---------------------                              -----    -----      

  (1)     NAMES OF REPORTING PERSONS                 
          I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)   
          Joe Donald Nichols
          ---------------------------------------------------------------------

  (2)     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP          (A)   [   ]
          (See Instructions)                                        (B)   [   ]

          --------------------------------------------------------------------- 

  (3)     SEC USE ONLY

          ---------------------------------------------------------------------

  (4)     CITIZENSHIP OR PLACE OF ORGANIZATION                      
          United States
          ---------------------------------------------------------------------

                       (5)     SOLE VOTING POWER                    
  NUMBER OF                    2,077,635
   SHARES              --------------------------------------------------------
 BENEFICIALLY          (6)     SHARED VOTING POWER                  
  OWNED BY                     None.
    EACH               --------------------------------------------------------
  REPORTING            (7)     SOLE DISPOSITIVE POWER               
 PERSON WITH                   2,077,635
                       --------------------------------------------------------
                       (8)     SHARED DISPOSITIVE POWER             
                               None.
                       --------------------------------------------------------

  (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON         
          2,077,635
          ---------------------------------------------------------------------

 (10)     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
          SHARES                                                          [ X ]
          (See Instructions)
          Excludes 679,674 shares owned by Elizabeth L. Nichols,
          ---------------------------------------------------------------------
          Mr. Nichols' wife.
          ---------------------------------------------------------------------

 (11)     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)           
          6.0%
          ---------------------------------------------------------------------

 (12)     TYPE OF REPORTING PERSON (See Instructions)
          IN
          ---------------------------------------------------------------------



                          PAGE   2   OF   4   PAGES
                               -----    -----      
<PAGE>   3
ITEM 1(a).   NAME OF ISSUER:

                                      JDN Realty Corporation     
                                        
ITEM 1(b).   ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:    

                                      359 East Paces Ferry Road 
                                      Suite 400
                                      Atlanta, GA 30305                    

ITEM 2(a).   NAME OF PERSON FILING:

                                     Joe Donald Nichols 

ITEM 2(b).   ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

                                      359 East Paces Ferry Road 
                                      Suite 400
                                      Atlanta, GA 30305                    

ITEM 2(c).   CITIZENSHIP:   

                                      UNITED STATES

ITEM 2(d).   TITLE OF CLASS OF SECURITIES: 

                                      COMMON STOCK

ITEM 2(e).   CUSIP Number: 

                                      465917-10-2

ITEM 3.     Not Applicable 

ITEM 4.  OWNERSHIP.

      (a)   Amount beneficially owned: 2,077,635

      (b)   Percent of class: 6.0%

      (c)   Number of shares as to which the person has:

            (i)    Sole power to vote or to direct the vote - 2,077,635
                                                                       
            (ii)   Shared power to vote or to direct the vote - None
                                                                       
            (iii)  Sole power to dispose or to direct the disposition of - 
                   2,077,635
                                                                       
            (iv)   Shared power to dispose or to direct the disposition of - 
                   None
                                                                       

ITEM 5.  OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

         Not applicable


ITEM 6.  OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

         Not applicable    

ITEM 7.  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED 
         THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.

         Not applicable  


ITEM 8.  IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

         Not applicable      


ITEM 9.  NOTICE OF DISSOLUTION OF GROUP.

         Not applicable    


ITEM 10. CERTIFICATIONS.

         Not applicable    





                               Page 3 of 4 pages


<PAGE>   4

                                   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.

                      1/19/99
                      ------------------------------------------------------
                                  (Date)

                      /s/  J. Donald Nichols
                      -------------------------------------------------------
                                (Signature)

                      J. Donald Nichols, Chairman and Chief Executive Officer
                      -------------------------------------------------------
                                (Name/Title)


     The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative (other than an executive
officer or general partner of the filing person), evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.

Note: Six copies of this statement, including all exhibits, should be filed
with the Commission.

ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001)






                               Page 4 of 4 pages




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