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 U.S. Realty
                   69, 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 (Volun-
              tary)

         4.   Issuer Name and Ticker or Trading Symbol

                   Regency Realty Corporation
                   REG*

         5.   Relationship of Reporting Person to Issuer (Check all ap-
              plicable) 

              ( ) 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          | 4. Amount of     | 6. Ownership       | 7. Nature of   |
    Security          |    Securities    |    Form:           |    Indirect    |
                      |    Beneficially  |    Direct (D) or   |    Beneficial  |
                      |    Owned         |    Indirect (I)    |    Ownership   |
 ------------------------------------------------------------------------------
 <S>                  <C>                <C>                  <C>  By Security |
 Common Stock         |    Up to         |    Indirect        |    Capital     |
                      |    7,618,500*    |                    |    Holdings    |
                      |                  |                    |    S.A. (a     |
                      |                  |                    |    wholly      |
                      |                  |                    |    owned sub-  |
                      |                  |                    |    sidiary     |
 ------------------------------------------------------------------------------

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





 TABLE II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
 ------------------------------------------------------------------------------
 1. Title of   |2.Date Exer-  |3.Title and  |4.Conver- |5.Owner-  |6.Nature of |
    Derivative |  cisable and |  Amount of  |  sion or |  ship    |  Indirect  |
    Security   |  Expiration  |  Underlying |  Exer-   |  Form of |  Beneficial|
               |  Date(Month/ |  Derivative |  cise    |  Deriva- |  Ownership |
               |  Day/Year)   |  Securities |  Price of|  tive    |            |
               |  Date |Expir-|             |  Deriva- |  Secu-   |            |
               |  Exer-|ation |  Title and  |  tive    |  rity:   |            |
               |  cisa-|Date  |  Number of  |  Secu-   |  Direct  |            |
               |  ble  |      |  Shares     |  rity    |  (D) or  |            |
               |       |      |             |          |  Indi-   |            |
               |       |      |             |          |  rect (I)|            |
 ------------------------------------------------------------------------------

 ------------------------------------------------------------------------------
</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 Cor-
   poration.  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