================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 19)
---------------------------
REGENCY CENTERS CORPORATION
(FORMERLY REGENCY REALTY CORPORATION)
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE 758849 10 3
(Title of class of securities) (CUSIP number)
BRIAN T. MCANANEY, ESQ.
GENERAL ELECTRIC CAPITAL CORPORATION
260 LONG RIDGE ROAD
STAMFORD, CONNECTICUT 06927
(203) 357-4000
(Name, address and telephone number of person authorized
to receive notices and communications)
JUNE 11, 2003
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
[ ].
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. SEE Rule 13d-7(b) for other
parties to whom copies are to be sent.
* 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
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purposes of Section 18 of the Securities Exchange Act of
1934 (the "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.)
(Continued on following pages)
(Page 1 of 16 pages)
================================================================================
--------------------------------------------------------------------------------
CUSIP number 758849 10 3 13D Page 2 of 16 Pages
--------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: SECURITY CAPITAL
GROUP INCORPORATED
S.S. OR I.R.S. IDENTIFICATION NO. 36-3692698
OF ABOVE PERSON:
------------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
------------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK, OO
------------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
------------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: MARYLAND
------------------------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 34,273,236 SHARES OF COMMON STOCK
SHARES
--------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
--------------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 34,273,236 SHARES OF COMMON STOCK
REPORTING
--------------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER:
------------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 34,273,236 SHARES OF COMMON STOCK
------------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 56.6%
------------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------------------------------------------------------------------------------------------------------------------------
2
--------------------------------------------------------------------------------
CUSIP number 758849 10 3 13D Page 3 of 16 Pages
--------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: SC CAPITAL INCORPORATED
S.S. OR I.R.S. IDENTIFICATION NO. 74-2985638
OF ABOVE PERSON:
------------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
------------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK, OO
------------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
------------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: NEVADA
------------------------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 34,273,236 SHARES OF COMMON STOCK
SHARES
--------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
--------------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 34,273,236 SHARES OF COMMON STOCK
REPORTING
--------------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER:
------------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 34,273,236 SHARES OF COMMON STOCK
------------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 56.6%
------------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------------------------------------------------------------------------------------------------------------------------
3
--------------------------------------------------------------------------------
CUSIP number 758849 10 3 13D Page 4 of 16 Pages
--------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: SC REALTY GROUP INCORPORATED
S.S. OR I.R.S. IDENTIFICATION NO. 88-0330184
OF ABOVE PERSON:
------------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
------------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK, OO
------------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
------------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: NEVADA
------------------------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 34,273,236 SHARES OF COMMON STOCK
SHARES
--------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
--------------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 34,273,236 SHARES OF COMMON STOCK
REPORTING
--------------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER:
------------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 34,273,236 SHARES OF COMMON STOCK
------------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 56.6%
------------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------------------------------------------------------------------------------------------------------------------------
4
--------------------------------------------------------------------------------
CUSIP number 758849 10 3 13D Page 5 of 16 Pages
--------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: SECURITY CAPITAL OPERATIONS
INCORPORATED
S.S. OR I.R.S. IDENTIFICATION NO. 52-2146697
OF ABOVE PERSON:
------------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
------------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK, OO
------------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
------------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: MARYLAND
------------------------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 34,273,236 SHARES OF COMMON STOCK
SHARES
--------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
--------------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 34,273,236 SHARES OF COMMON STOCK
REPORTING
--------------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER:
------------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 34,273,236 SHARES OF COMMON STOCK
------------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 56.6%
------------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------------------------------------------------------------------------------------------------------------------------
5
--------------------------------------------------------------------------------
CUSIP number 758849 10 3 13D Page 6 of 16 Pages
--------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: SECURITY CAPITAL SHOPPING MALL
BUSINESS TRUST
S.S. OR I.R.S. IDENTIFICATION NO. 74-2869169
OF ABOVE PERSON:
------------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
------------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK, OO
------------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
------------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: MARYLAND
------------------------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 34,273,236 SHARES OF COMMON STOCK
SHARES
--------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
--------------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 34,273,236 SHARES OF COMMON STOCK
REPORTING
--------------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER:
------------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 34,273,236 SHARES OF COMMON STOCK
------------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 56.6%
------------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------------------------------------------------------------------------------------------------------------------------
6
--------------------------------------------------------------------------------
CUSIP number 758849 10 3 13D Page 7 of 16 Pages
--------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: GE CAPITAL INTERNATIONAL HOLDINGS
CORPORATION
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
------------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
------------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK, OO
------------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
------------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
------------------------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 34,273,236 SHARES OF COMMON STOCK
SHARES
--------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
--------------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 34,273,236 SHARES OF COMMON STOCK
REPORTING
--------------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER:
------------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 34,273,236 SHARES OF COMMON STOCK
------------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 56.6%
------------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------------------------------------------------------------------------------------------------------------------------
7
--------------------------------------------------------------------------------
CUSIP number 758849 10 3 13D Page 8 of 16 Pages
--------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS: GENERAL ELECTRIC CAPITAL
CORPORATION
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS:
------------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
------------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: BK, OO
------------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
------------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
------------------------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 34,273,236 SHARES OF COMMON STOCK
SHARES
--------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
--------------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 34,273,236 SHARES OF COMMON STOCK
REPORTING
--------------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER:
------------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 34,273,236 SHARES OF COMMON STOCK
------------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 56.6%
------------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------------------------------------------------------------------------------------------------------------------------
8
--------------------------------------------------------------------------------
CUSIP number 758849 10 3 13D Page 9 of 16 Pages
--------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS: GENERAL ELECTRIC CAPITAL SERVICES,
INC.
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS:
------------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
------------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: NOT APPLICABLE
------------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
------------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
------------------------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
--------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: DISCLAIMED (SEE 11 BELOW)
OWNED BY
--------------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
--------------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: DISCLAIMED (SEE 11 BELOW)
------------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: BENEFICIAL OWNERSHIP OF ALL SHARES
DISCLAIMED BY GENERAL ELECTRIC
CAPITAL SERVICES, INC.
------------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): NOT APPLICABLE
(SEE 11 ABOVE)
------------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------------------------------------------------------------------------------------------------------------------------
9
--------------------------------------------------------------------------------
CUSIP number 758849 10 3 13D Page 10 of 16 Pages
--------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS: GENERAL ELECTRIC COMPANY
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS:
------------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
------------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: NOT APPLICABLE
------------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ]
TO ITEM 2(d) OR 2(e):
------------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: NEW YORK
------------------------------------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
--------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: DISCLAIMED (SEE 11 BELOW)
OWNED BY
--------------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
--------------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: DISCLAIMED (SEE 11 BELOW)
------------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: BENEFICIAL OWNERSHIP OF ALL SHARES
DISCLAIMED BY GENERAL ELECTRIC
COMPANY
------------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): NOT APPLICABLE
(SEE 11 ABOVE)
------------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
------------------------------------------------------------------------------------------------------------------------------------
10
This Amendment No. 19 ("Amendment No. 19") is filed by Security
Capital Group Incorporated, a Maryland corporation ("Security Capital Group"),
SC Capital Incorporated, a Nevada corporation ("SC Capital") and a wholly owned
subsidiary of Security Capital Group, SC Realty Incorporated, a Nevada
corporation ("SC-Realty") and a wholly owned subsidiary of SC Capital, Security
Capital Operations Incorporated, a Maryland corporation ("Operations") and a
wholly owned subsidiary of SC-Realty, Security Capital Shopping Mall Business
Trust, a Maryland real estate investment trust and a subsidiary of Operations
(f/k/a Midwest Mixed-Use Realty Investors Trust) ("SC Shopping Mall Business
Trust" and, together with Security Capital Group, "Security Capital"), General
Electric Company, a New York corporation ("GE"), General Electric Capital
Services, Inc., a Delaware corporation ("GECS") and a wholly owned subsidiary of
GE, General Electric Capital Corporation, a Delaware corporation ("GECC") and a
wholly owned subsidiary of GECS, and GE Capital International Holdings
Corporation, a Delaware corporation ("GE Holdings" and, together with GE, GECS,
GECC, Security Capital Group, SC Capital, SC-Realty, Operations and SC Shopping
Mall Business Trust, the "Reporting Persons") and a wholly owned subsidiary of
GECC and the parent corporation of Security Capital Group.
This Amendment No. 19 amends the Schedule 13D originally filed by
Security Capital U.S. Realty and Security Capital Holdings S.A. on June 21, 1996
(as previously amended, the "Schedule 13D"). This Amendment No. 19 relates to
shares of common stock, par value $0.01 per share ("Common Stock"), of Regency
Centers Corporation, a Florida corporation (f/k/a Regency Realty Corporation)
("Regency"). Capitalized terms used herein without definition shall have the
meanings ascribed thereto in the Schedule 13D, as amended.
Item 4. PURPOSE OF TRANSACTION
Item 4 is hereby amended and supplemented as follows:
On June 12, 2003 Security Capital Group and Regency announced that
Security Capital plans to sell up to 34,273,236 shares of Common Stock,
representing all of the shares of Common Stock held of record by SC Shopping
Mall Business Trust, through an underwritten public offering, forward sales
contracts and the sale of shares to Regency.
Security Capital expects to offer a portion of its shares of Common
Stock in an underwritten public offering (the "Secondary Offering") under the
effective shelf registration statement previously filed by Regency pursuant to
Security Capital's registration request. Regency will promptly file a prospectus
supplement relating to the Secondary Offering with the SEC.
Concurrently with the Secondary Offering, Security Capital intends to
enter into a series of forward contracts (the "Forward Contracts") with certain
underwriters (the "Forward Contract Underwriters") covering a portion of its
shares of Common Stock. The Forward Contracts would mature in June 2004. Under
the Forward Contracts, Security Capital would have the right to elect to settle
in cash in lieu of delivering the
11
Common Stock that is subject to the Forward Contracts. In addition, during the
term of the Forward Contracts, Security Capital may lend shares of Common Stock
to the Forward Contract Underwriters pursuant to stock loan agreements. In
connection with the foregoing transactions, Citigroup Global Markets Holdings
Inc. intends to offer variable rate exchangeable debt securities linked to a
portion of the shares of Common Stock subject to the Forward Contracts.
Regency and Security Capital have entered into a Purchase and Sale
Agreement pursuant to which Regency has agreed to purchase up to $150,000,000 of
shares of Common Stock held by Security Capital at the per share offering price
to the public of the shares of Common Stock offered in the Secondary Offering.
The amount of shares that Regency will purchase will decrease if Security
Capital's common stock ownership would not be 9.8% or less after closing the
Secondary Offering and entering into the Forward Contracts. For the purposes of
this calculation, Security Capital is not treated as owning the shares covered
by the Forward Contracts or any shares subject to the underwriters'
overallotment options that are not sold in the transactions described above, and
the total outstanding Common Stock is reduced by an assumed sale to Regency of
$150,000,000 of shares. The closing of the purchase under this agreement will
occur upon, and be subject to, the closing of the Secondary Offering.
In order to facilitate Security Capital's disposition of its shares
of Common Stock, the Board of Directors of Regency adopted resolutions relating
to the ownership limits under Regency's articles of incorporation (i) to provide
that the Forward Contract Underwriters will have an ownership limit of 9.8%
during the terms of the Forward Contracts, (ii) to provide that Security Capital
will have an ownership limit equal to 60% of the Common Stock less the number of
shares sold in the Secondary Offering or to Regency, but not subtracting the
shares subject to the Forward Contracts, and (iii) to clarify certain other
matters.
Pursuant to an Agreement Relating to Disposition of Shares, dated as
of June 11, 2003, Security Capital and Regency have agreed that the Stockholders
Agreement between Security Capital and Regency will terminate upon the closing
of the Secondary Offering, the entering into of the Forward Contracts and the
sale of shares of Common Stock by Security Capital to Regency pursuant to the
Purchase and Sale Agreement, provided that Security Capital's ownership in
Regency (excluding the shares subject to the Forward Contracts) has been reduced
to 15% or less. Security Capital also has agreed to vote all shares of Common
Stock covered by the Forward Contracts over which it has voting power following
the closing of the Secondary Offering in the same proportion as shares are voted
by other shareholders of Regency. In addition, the agreement provides that, upon
the closing of the Purchase and Sale Agreement, Joseph E. Parsons, who is
affiliated with the Reporting Persons, will resign from the Board of Directors
of Regency.
If all of the transactions described above are completed, and the
underwriters exercise their over-allotment options in full, then Security
Capital will no longer own any shares of Common Stock following settlement of
the Forward Contracts during the first half of 2004.
12
The transactions described in this announcement are subject to market
conditions and other factors, thus there can be no assurance that the
transactions will be completed as contemplated or that the Reporting Persons
will sell any or all of their shares of Common Stock. The determination to
conduct any sales of the Common Stock will be based on the continuing assessment
by the Reporting Persons of market conditions, market price of shares of Common
Stock and other considerations deemed relevant by the Reporting Persons at the
time. Notwithstanding the filing of a prospectus supplement and the offering of
shares of Common Stock pursuant thereto, there can be no assurance as to the
success of the Secondary Offering or the terms on which it may take place or
whether Security Capital may determine to abandon or change its plans in
connection with the Secondary Offering and the Forward Contracts. Security
Capital may not sell any or all of its shares of Common Stock.
If Security Capital does not dispose of all of its shares in the
transactions described above, the Reporting Persons will continue to review
their investment in the Common Stock and evaluate their plans and intentions as
previously described in this Schedule 13D (including, without limitation,
Amendment No. 13 hereto). The Reporting Persons reserve the right, based on all
relevant factors, and consistent with its contractual obligations, to change
their investment intent with respect to Regency at any time in the future, to
dispose of all or a portion of their holdings of Common Stock, or to change
their intention with respect to any or all of the matters referred to in this
Schedule 13D. Any action or discussions taken in such connection will be subject
to and conducted in accordance with all applicable legal rules and contractual
agreements to which the Reporting Persons are subject or which otherwise apply
to the purchase or sale of Common Stock or the Reporting Persons' investment in
Regency.
Item 7. MATERIALS TO BE FILED AS EXHIBITS
Exhibit 99.1 Joint Press Release, dated June 12, 2003, issued by Security
Capital Group and Regency Centers Corporation.
Exhibit 99.2 Purchase and Sale Agreement by and between Regency Centers
Corporation, Security Capital Group Incorporated and
Security Capital Shopping Mall Business Trust, dated as of
June 11, 2003
Exhibit 99.3 Agreement Relating to Disposition of Shares by and between
Regency Centers Corporation and Security Capital Group
Incorporated, dated as of June 11, 2003
Exhibit 99.4 Resolutions of Board of Directors of Regency Centers
Corporation Waiving Ownership Limit for Security Capital
Group Incorporated Forward Contract Transaction
13
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this Schedule 13D is true, complete
and correct.
Date: June 12, 2003
GENERAL ELECTRIC COMPANY
By: /s/ KEVIN KORSH
-------------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
GENERAL ELECTRIC CAPITAL SERVICES, INC.
By: /s/ KEVIN KORSH
-------------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
GENERAL ELECTRIC CAPITAL CORPORATION
By: /s/ KEVIN KORSH
-------------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
GE CAPITAL INTERNATIONAL HOLDINGS CORPORATION
By: /s/ KEVIN KORSH
--------------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
SECURITY CAPITAL GROUP INCORPORATED
By: /s/ KEVIN KORSH
-------------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
14
SC CAPITAL INCORPORATED
By: /s/ KEVIN KORSH
-------------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
SC REALTY INCORPORATED
By: /s/ KEVIN KORSH
-------------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
SECURITY CAPITAL OPERATIONS INCORPORATED
By: /s/ KEVIN KORSH
-------------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
SECURITY CAPITAL SHOPPING MALL
BUSINESS TRUST
By: /s/ KEVIN KORSH
-------------------------------
Name: Kevin Korsh
Title: Attorney-in-fact
15
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
Exhibit 99.1 Joint Press Release, dated June 12, 2003, issued by Security
Capital Group and Regency Centers Corporation.
Exhibit 99.2 Purchase and Sale Agreement by and between Regency Centers
Corporation, Security Capital Group Incorporated and
Security Capital Shopping Mall Business Trust, dated as of
June 11, 2003
Exhibit 99.3 Agreement Relating to Disposition of Shares by and between
Regency Centers Corporation and Security Capital Group
Incorporated, dated as of June 11, 2003
Exhibit 99.4 Resolutions of Board of Directors of Regency Centers
Corporation Waiving Ownership Limit for Security Capital
Group Incorporated Forward Contract Transaction
16