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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_____________
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 12)
Homestead Village Incorporated
(Name of Issuer)
Common Stock, Par Value $.01 Per Share
(Title of Class of Securities)
437851 10 8
(CUSIP Number of Class of Securities)
Jeffrey A. Klopf, Secretary
Security Capital Group Incorporated
125 Lincoln Avenue
Santa Fe, New Mexico 87501
(505) 982-9292
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
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- -----------------------------------
CUSIP NOS. 437851 10 8
- -----------------------------------
- --------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Security Capital Group Incorporated
36-3692698
- --------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
- --------------------------------------------------------------------------------
SEC USE ONLY
3
- --------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC, BK, OO
- --------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [_]
5
- --------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
STATE OF MARYLAND
- --------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 26,514,532
SHARES -------------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
27,859,317 (includes 27,770,617* Shares issuable upon
OWNED BY conversion of convertible notes)
-------------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 26,514,532
PERSON -------------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
27,859,317 (includes 27,770,617* Shares issuable upon
conversion of convertible notes)
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
54,373,849 Shares (includes 27,770,617 Shares issuable upon conversion of
convertible notes)
- --------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[_]
- --------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
82.4%*
- --------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
CO
- --------------------------------------------------------------------------------
* Assumes the maximum amount of notes have been funded under the funding
commitment agreements between Homestead and Security Capital Pacific Trust
("PTR") and Security Capital Atlantic Incorporated ("ATLANTIC"),
respectively. As of January 31, 1998, PTR and ATLANTIC held approximately
$306.1 million of notes, which at face mortgage amount are convertible into
26,613,760 Shares.
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- -----------------------------------
CUSIP NOS. 437851 10 8
- -----------------------------------
- --------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Security Capital Pacific Trust
74-6056896
- --------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
- --------------------------------------------------------------------------------
SEC USE ONLY
3
- --------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC, BK, OO
- --------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [_]
5
- --------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
STATE OF MARYLAND
- --------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF - 0 -
SHARES -------------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
19,246,402* (consisting of Shares issuable upon
OWNED BY conversion of convertible notes)
-------------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING - 0 -
PERSON -------------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
19,246,402* (consisting of Shares issuable upon
conversion of convertible notes)
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
19,246,402* Shares (consisting of Shares issuable upon conversion of
convertible notes)
- --------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[_]
- --------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
33.5%*
- --------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
CO
- --------------------------------------------------------------------------------
* Assumes the maximum amount of notes have been funded under the funding
commitment agreement between PTR and Homestead. As of January 31, 1998, PTR
held approximately $212.5 million of notes, which at face mortgage amount are
convertible into 18,482,214 Shares.
<PAGE>
- -----------------------------------
CUSIP NOS. 437851 10 8
- -----------------------------------
- --------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Security Capital Atlantic Incorporated
85-0415503
- --------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
- --------------------------------------------------------------------------------
SEC USE ONLY
3
- --------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC, BK, OO
- --------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [_]
5
- --------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
STATE OF MARYLAND
- --------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF - 0 -
SHARES -------------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
8,524,215* (consisting of Shares issuable upon
OWNED BY conversion of convertible notes)
-------------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING - 0 -
PERSON -------------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
8,524,215* (consisting of Shares issuable upon
conversion of convertible notes)
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
8,524,215* Shares (consisting of Shares issuable upon conversion of
convertible notes)
- --------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[_]
- --------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
18.2%*
- --------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
CO
- --------------------------------------------------------------------------------
* Assumes the maximum amount of notes have been funded under the funding
commitment agreement between ATLANTIC and Homestead. As of January 31, 1998,
ATLANTIC held approximately $93.5 million of notes, which at face mortgage
amount are convertible into 8,131,546 Shares.
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SCHEDULE 13D
Item 1. Security and Issuer
Shares of Common Stock, par value $.01 per share (the "Shares"), of
Homestead Village Incorporated ("Homestead"), 2100 RiverEdge Parkway, Atlanta,
Georgia 30328.
Item 4. Purpose of the Transaction
(a) The acquisition of additional securities of Homestead or the
disposition of securities of Homestead, except (i) that Security Capital
announced on December 2, 1996 that it may purchase from time to time up to $25
million of Shares or Warrants in open market transactions or in privately
negotiated transactions, (ii) that Security Capital announced on May 12, 1997
that it may purchase from time to time up to $20 million of additional Warrants
in open market transactions or in privately negotiated transactions, (iii) that
Security Capital announced on November 6, 1997 that it may purchase from time to
time up to $25 million of Shares in open market transactions or in privately
negotiated transactions, and (iv) that Security Capital may acquire Shares in
the future at the same times and on the same terms available to other
shareholders or the general public.
Item 5. Interest in Securities of the Issuer
(a),(b) The following table sets forth the beneficial ownership of Shares
for each person named in Item 2. Unless otherwise indicated in the footnotes,
each such person has sole power to vote or to direct the vote and sole power to
dispose or direct the disposition of such Shares.
<TABLE>
<CAPTION>
Number of Shares Percent of
Person Beneficially Owned(1) All Shares(2)
- ------ --------------------- -------------
<S> <C> <C>
Security Capital Group Incorporated....... 54,373,849(3) 82.4%
William D. Sanders........................ 232,486(4) *
Samuel W. Bodman.......................... 635(5) *
Hermann Buerger........................... 0 *
John P. Frazee, Jr........................ 6,758(6) *
Cyrus F. Freidheim, Jr.................... 1,102 *
H. Laurance Fuller........................ 216 *
Ray L. Hunt............................... 85,567(7) *
Peter S. Willmott......................... 3,447 *
Thomas G. Wattles......................... 1,837(8) *
Security Capital Pacific Trust............ 19,246,402 33.5
C. Ronald Blankenship..................... 7,311(9) *
Calvin K. Kessler......................... 2,801 *
James H. Polk, III........................ 5,284 *
John C. Schweitzer........................ 8,316(10) *
James A. Cardwell......................... 4,780 *
John T. Kelley, III....................... 2,739 *
William G. Myers.......................... 20,490(11) *
R. Scot Sellers........................... 4,410 *
Patrick R. Whelan......................... 465(12) *
Jeffrey A. Klopf.......................... 0 *
Jay S. Jacobson........................... 0 *
Security Capital Atlantic Incorporated.... 8,524,215 18.2
Manuel A. Garcia, III..................... 36,765(13) *
Ned S. Holmes............................. 5,820(14) *
Constance B. Moore........................ 3,351 *
James C. Potts............................ 2,143 *
John M. Richman........................... 1,851 *
J. Lindsay Freeman........................ 0 *
William Kell.............................. 78 *
Bradley C. Miller......................... 17 *
</TABLE>
<PAGE>
Less than 1%
(1) Includes, for PTR and ATLANTIC, all Shares that may be issued upon
conversion of all Convertible Notes that may be outstanding upon full
funding under the Funding Commitment Agreements.
(2) Assumes (i) in the case of PTR and ATLANTIC, that PTR or ATLANTIC, as
applicable, has converted all Convertible Notes that may be outstanding
upon full funding under its Funding Commitment Agreement and that no other
person has converted any outstanding convertible securities and (ii) in the
case of Security Capital Group Incorporated ("Security Capital"), that each
of PTR and ATLANTIC have converted all Convertible Notes that may be
outstanding upon full funding under the Funding Commitment Agreements and
that no other person has converted any outstanding convertible securities.
(3) Includes 19,246,402 Shares beneficially owned by PTR and 8,524,215 Shares
beneficially owned by ATLANTIC. As a result of its ownership of 33.1% of
PTR's outstanding common shares and 50.0% of ATLANTIC's outstanding common
stock and Security Capital's contractual arrangements with PTR and
ATLANTIC, Security Capital may be deemed to beneficially own all Shares
owned by PTR and ATLANTIC. 26,697,454 Shares are, or will be, owned of
record by SC Realty Incorporated, a wholly owned subsidiary of Security
Capital, and, except for 3,455,607 Shares are, or will be, pledged to
secure a $400 million revolving line of credit facility with a syndicate of
banks. As of January 31, 1998, there were approximately $211.5 million in
borrowings outstanding under the line of credit. The line of credit is also
secured by securities owned indirectly by Security Capital of PTR,
ATLANTIC, Security Capital Industrial Trust and Security Capital U.S.
Realty, a publicly traded entity based in Luxembourg and which invests in
real estate operating companies in the United States. Security Capital
estimates that the aggregate market value of the pledged securities
exceeded $3.6 billion as of January 31, 1998. Security Capital was in
compliance with all covenants under the line of credit as of September 30,
1997.
(4) 127,562 Shares are directly owned by Mr. Sanders. Mr. Sanders may be deemed
to beneficially own 101,420 Shares which are owned by Sanders Partners
Incorporated and CAMPR Partners Limited, family entities with respect to
which Mr. Sanders shares voting and dispositive power. Includes 3,500
shares held by a limited partnership with respect to which Mr. Sanders
shares voting and dispositive power.
(5) Shares are held by Terry O. Barber, Jr. Family Trust for which Mr. Bodman's
wife is trustee and were held as such prior to their marriage in July 1997.
(6) Includes 4,758 Shares held in an IRA account and options to acquire 2,000
Shares.
(7) Includes 330 Shares held by family trusts for which Mr. Hunt is trustee,
1,427 Shares for which Mr. Hunt shares beneficial ownership pursuant to
powers of attorney, 5,521 Shares held by a family limited partnership of
which a corporation that Mr. Hunt owns is the general partner, and 330
Shares held by a corporation that Mr. Hunt owns. Excludes 330 Shares that
Mr. Hunt's wife owns as separate property and 23,479 Shares held by Hunt
Financial Corporation, the capital stock of which is held, indirectly
through a series of corporations, by trusts for the benefit of Mr. Hunt and
members of his family, as to which Mr. Hunt disclaims beneficial ownership.
(8) All Shares are held in an IRA account.
(9) Includes 2,895 Shares held by a corporation in which Mr. Blankenship owns
the controlling interest.
(10) Includes 2,226 Shares held by a partnership for which Mr. Schweitzer is a
general partner, 825 Shares held by a corporation that Mr. Schweitzer owns
and options to acquire 2,000 shares.
(11) Includes 2,600 Shares held the Myers Family Trust of which Mr. Myers is a
trustee; 319 Shares held in an IRA account; 9,262 Shares held in a Profit
Sharing Plan; 1,102 Shares held by a partnership of which Mr. Myers is a
partner; 549 Shares held by Ojai Land Company of which Mr. Myers is a
control person; 2,954 Shares held by the Myers Family Foundation of which
Mr. Myers is a trustee and 3,704 Shares held by ORIC Charitable Remainder
Unitrust of which Mr. Myers is a trustee.
(12) Includes 124 Shares held by Mr. Whelan's children.
(13) Includes 11,022 Shares held by a trust for which Mr. Garcia is trustee and
options to acquire 2,000 shares.
(14) Includes 5,543 Shares held by a partnership of which Mr. Holmes is a
partner and 277 Shares held by Mr. Holmes' wife.
(c) No transactions in Shares or Warrants were effected in the past sixty
days by the persons listed in the above table, except as previously disclosed
and: on July 21, 1997, Mr. Polk sold 1,000 Shares at a sales price of $16.732
per Share and 500 Warrants at a sales price of $7.758 per Share; on September 4,
1997, Mr. Polk sold 1,000 Warrants at a sales price of $8.243 per Warrant; on
September 18, 1997, Mr. Polk sold 1,000 Warrants at a sales price of $8.366 per
Warrant; on September 19, 1997, a partnership of which Mr. Holmes is a partner
sold 1,000 Warrants at a sales price of $8.885 per Warrant; on October 6, 1997,
Mr. Polk sold 1,716 Warrants at a sales price of $6.803 per Warrant; on October
27, 1997 Mr. Holmes sold 409 Shares at a sales price of $14.613 per Share and
273 Warrants at a sales price of $4.797 per Warrant, Mr. Holmes' children sold
658 Shares at a sales price of $14.80 per Share and 440 Warrants at a sales
price of $4.993 per Warrant and a partnership of which Mr. Holmes is a partner
sold 2,719 Warrants at a sales price of $4.898 per Warrant; on November 10,
1997, Security Capital purchased 11,000 Shares at a purchase price of $16.46 per
Share; on November 11, 1997, Security Capital purchased 3,000 Shares at a price
of $16.91 per Share; on November 12, 1997, Security Capital purchased 50,000
Shares at a purchase price of $17.40 per Share; on January 20, 1998, Security
Capital purchased 4,520,003 Shares at a purchase price of $15.00 pursuant to a
subscription rights offering conducted by Homestead; on January 21, 1998,
Security Capital purchased 3,090,222 Shares at a purchase price of $15.00 per
Share pursuant to the oversubscription privilege associated with the rights
offering conducted by Homestead; and on January 27, 1998, Security Capital
purchased 189,200 Shares at a purchase price of $14.185 per Share.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Date: March 6, 1998 SECURITY CAPITAL PACIFIC TRUST
By: /s/ Jeffrey A. Klopf
----------------------------------
Name: Jeffrey A. Klopf
Title: Secretary
SECURITY CAPITAL ATLANTIC INCORPORATED
By: /s/ Jeffrey A. Klopf
---------------------------------
Name: Jeffrey A. Klopf
Title: Secretary
SECURITY CAPITAL GROUP INCORPORATED
By: /s/ Jeffrey A. Klopf
---------------------------------
Name: Jeffrey A. Klopf
Title: Secretary
