U.S. SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.
                                 FORM 3

              INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

    1.   Name and Address of Reporting Person

              Security Capital Holdings S.A.
              96, route d'Esch
              L-1470 Luxembourg,

    2.   Date of Event Requiring Statement (Month/Day/Year)

              6/11/96

    3.   IRS or Social Security Number of Reporting Person (Voluntary)

    4.   Issuer Name and Ticker or Trading Symbol

              Regency Realty Corporation
              REG*

    5.   Relationship of Reporting Person to Issuer (Check all applicable)

         ( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
         (specify below)

    6.   If Amendment, Date of Original (Month/Day/Year)

    
<TABLE>
    <CAPTION>

 -----------------------------------------------------------------------------
 Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially  |
            Owned                                                             |
 ---------------------------------------------------------------------------- |
 1. Title of Security | 4. Amount of     | 6. Ownership Form: | 7. Nature of  |
                      |    Securities    |    Direct (D) or   |    Indirect   |
                      |    Beneficially  |    Indirect (I)    |    Beneficial |
                      |    Owned         |                    |    Ownership  |
 -----------------------------------------------------------------------------|
 <S>                  <C>                <C>                  <C>             |
 Common Stock         |    Up to         |    Direct          |               |
                      |    7,618,500*    |                    |               |
                      |                  |                    |               |
                      |                  |                    |               |
 -----------------------------------------------------------------------------

 -----------------------------------------------------------------------------
 <CAPTION>
 -----------------------------------------------------------------------------
<PAGE>





Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned

________________________________________________________________________________
1. Title of   |2. Date      |3. Title and  |4. Con-     |5. Owner-  |6. Nature |
   Derivative |   Exerci-   |   amount of  |   version  |   ship    |   of In- |
   Security   |   sable     |   Underlying |   or Exer- |   Form of |   direct |
              |   and       |   Derivative |   cise     |   Deriva- |   Bene-  |
              |   Expir-    |   Securities |   Price of |   tive    |   ficial |
              |   ation     |              |   Deriva-  |   Secu-   |   Owner- |
              |    Date     |              |   tive     |   rity:   |   ship   |
              |   (Month/   |              |   Secu-    |   Dir-    |          |
              |   Day/      |    Title and |   rity     |   ect     |          |
              |   Year)     |    Number of |            |   (D)     |          |
              |Date |Expir- |    Shares    |            |   or      |          |
              |Exer-|ation  |              |            |   In-     |          |
              |cisa-|Date   |              |            |   direct  |          |
              |ble  |       |              |            |   (I)     |          |
________________________________________________________________________________
<S>           <C>   <C>     <C>            <C>          <C>         <C>        |
              |     |       |              |            |           |          |
              |     |       |              |            |           |          |
________________________________________________________________________________
</TABLE>




    Explanation of Responses:

    * Security Capital Holdings S.A. has the right to acquire, pursuant to
      a Stock Purchase Agreement, dated June 11, 1996, by and among
      Regency Realty Corporation, Security Capital U.S. Realty and
      Security Capital Holdings S.A., up to 7,499,400 shares of Common
      Stock of Regency Realty Corporation.  The Stock Purchase Agreement,
      the transactions contemplated thereby and matters related thereto
      are more fully described in a Schedule 13D filed on June 21, 1996 by
      Security Capital U.S. Realty and Security Capital Holdings S.A.
      Prior to February 3, 1996, Security Capital U.S. Realty acquired
      119,100 shares of Common Stock of Regency Realty Corporation in
      stock market transactions.



                                 /s/ Paul E. Szurek               6/21/96
                                 -----------------------------    -------
                                 Signature of Reporting Person      Date