UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
Under the Securities Exchange Act of 1934
(Amendment No. ____)*
Excel Legacy Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
300665106
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(CUSIP Number)
CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE
IS FILED:
X Rule 13d-1(b)
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*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).
CUSIP NO. 300665106
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1 NAME OF REPORTING PERSON
Heitman/PRA Securities Advisors LLC
IRS ID# 36-4265577
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) ----
(b) X
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
5 SOLE VOTING POWER
NUMBER OF SHARES 2,200,314
BENEFICIALLY OWNED
BY EACH REPORTING 6 SHARED VOTING POWER
PERSON WITH 0
7 SOLE DISPOSITIVE POWER
2,200,314
8 SHARED DISPOSITIVE POWER
25,707
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,226,021
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.65
12 TYPE OF REPORTING PERSON (See Instructions)
IA
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ITEM 1 (A) NAME OF ISSUER:
Excel Legacy Corporation
ITEM 1 (B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
16955 via Del Campo, Suite 100
San Diego, CA 92127
ITEM 2 (A) NAME OF PERSON FILING:
Heitman/PRA Securities Advisors LLC
ITEM 2 (B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
180 North LaSalle Street, Suite 3600
Chicago, Illinois 60601
ITEM 2 (C) CITIZENSHIP:
Illinois
ITEM 2 (D) TITLE OF CLASS OF SECURITIES:
Common Stock
ITEM 2 (E) CUSIP NUMBER: 300665106
ITEM 3 IF THIS STATEMENT IS FILED PURSUANT TO RULE
13D-1(B) OR 13D-2(B) OR (C), CHECK WHETHER THE
PERSON FILING IS A:
ITEM 3 (E) An Investment Adviser in accordance with Rule 13d-1(b)(1)(ii)(E).
ITEM 4 OWNERSHIP:
ITEM 4 (A) AMOUNT BENEFICIALLY OWNED:
2,226,021
ITEM 4 (B) PERCENT OF CLASS:
6.65
ITEM 4 (C) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) sole power to vote or to
direct the vote 2,200,314
(ii) shared power to vote or to
direct the vote 0
(iii) sole power to dispose or
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to direct the disposition of 2,200,314
(iv) shared power to dispose or to
direct the disposition of 25,707
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.
Heitman/PRA Securities Advisors LLC serves as investment adviser to the
Heitman Real Estate Fund, a registered investment company, and sixty-one (61)
separate account clients.
Heitman Real Estate Portfolio, a Series of UAM Funds Trust, and 60 separate
account clients have given dispositive power to Heitman/PRA Securities Advisors
LLC the right to receive or the power to direct the receipt of dividends from,
or proceeds from the sale of 2,200,314 shares (6.58%) of this issuer. One (1)
separate account has the right to vote and the right to receive or the power to
direct the receipt of dividends, or proceeds from the sale of 25,707 shares
(0.08%) of this issuer.
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.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purpose or effect.
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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.
Date: February 10, 1999
/s/Nancy B. Lynn
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NANCY B. LYNN,
Vice President
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