UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
   Security Capital Holdings S.A. 
   86 Jermyn Street
   London SW1Y 6JD, UNITED KINGDOM   
2. Issuer Name and Ticker or Trading Symbol
   Regency Realty Corporation
   REG
3. IRS or Social Security Number of Reporting Person (Voluntary)
   
4. Statement for Month/Year
   8/97
5. If Amendment, Date of Original (Month/Year)
   6/96
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   ( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
   (specify below)
   
7. Individual or Joint/Group Filing (Check Applicable Line)
   (X) Form filed by One Reporting Person
   ( ) Form filed by More than One Reporting Person
___________________________________________________________________________________________________________________________________ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect | | Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership | | | | | Beneficially |(D)or | | | | | | | A/| | Owned at |Indir | | | Date |Code|V| Amount | D | Price | End of Month |ect(I)| | ___________________________________________________________________________________________________________________________________| Common Stock |8/11/ |P | |95,939* |A |$27.25 |9,499,439 |D | | |97 | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| Common Stock |8/28/ |P | |1,050,000** |A |$22.125 |10,549,439 |D | | |97 | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________|
* The transaction is more fully described in the Amendment No. 4 to Schedule 13D filed on August 15, 1997 by Security Capital U.S. Realty and Security Capital Holdings S.A. ** The transaction is more fully described in the Amendment No. 5 to Schedule 13D to be filed by Security Capital U.S. Realty and Security Capital Holdings S.A.
___________________________________________________________________________________________________________________________________ Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of| Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect | |or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial | |cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership | |Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | | |Deriva- | | | |Date |Expir| | |ficially |Ind| | |tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| | |Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | | |rity |Date |Code|V| Amount | |ble | | | |Month |(I)| | ___________________________________________________________________________________________________________________________________| Right to Purchase* |$22.125 |8/28/|C | |1,050,000 |D |var- |var- |Common Stock|1,050, |n/a |700,000 |D | | | |97 | | | | |ies |ies | |000 | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | ___________________________________________________________________________________________________________________________________|
Explanation of Responses: * The transaction is more fully described in the Amendment No. 5 to Schedule 13D to be filed by Security Capital U.S. Realty and Security Capital Holdings S.A. SIGNATURE OF REPORTING PERSON /s/ David Roth DATE September 9, 1997