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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 1)*

COLUMBIA EQUITY TRUST, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.001 PER SHARE
(Title of Class of Securities)
197627102
(CUSIP Number)
December 31, 2006
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     o Rule 13d-1(b)

     þ Rule 13d-1(c)

     o Rule 13d-1(d)

* 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).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

 
 

Page 1 of 5 Pages

 

                     
CUSIP No.
  
197627102 

 

           
1   NAMES OF REPORTING PERSONS:
Oliver T. Carr, Jr.
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 
   
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o
  (b)   þ
     
3   SEC USE ONLY:
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  United States
       
  5   SOLE VOTING POWER:
     
NUMBER OF   1,649,593
       
SHARES 6   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   1,649,593
       
WITH: 8   SHARED DISPOSITIVE POWER:
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  1,656,468
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  þ
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):
   
  11.35%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  IN

Page 2 of 5 Pages

 

Item 1(a). Name of Issuer:
     Columbia Equity Trust, Inc.
Item 1(b). Address of Issuer’s Principal Executive Offices:
     1750 H Street, NW, Suite 500, Washington, DC 20006.
Item 2(a). Name of Person Filing:
     Oliver T. Carr, Jr.
Item 2(b). Address of Principal Business Office or, if none, Residence:
     1750 H Street, NW, Washington, DC 20006.
Item 2(c). Citizenship:
     United States of America
Item 2(d). Title of Class of Securities:
     Common Stock, par value $.001 per share (the “Common Stock”).
Item 2(e). CUSIP Number:
     197627102.
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:
  (a)   o Broker or dealer registered under Section 15 of the Exchange Act.
 
  (b)   o Bank as defined in Section 3(a)(6) of the Exchange Act.
 
  (c)   o Insurance company as defined in Section 3(a)(19) of the Exchange Act.
 
  (d)   o Investment company registered under Section 8 of the Investment Company Act.
 
  (e)   o An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E).
 
  (f)   o An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F).
 
  (g)   o A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G).

Page 3 of 5 Pages

 

  (h)   o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act.
 
  (i)   o A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act.
 
  (j)   oGroup, in accordance with Rule 13d-1(b)(1)(ii)(J).
Item 4. Ownership.
  (a)   Amount beneficially owned: 1,656,468 shares of Common Stock.
 
  (b)   Percent of class: 11.35%
 
  (c)   Number of shares as to which such person has:
  (i)   Sole power to vote or to direct the vote: 1,649,593.
 
  (ii)   Shared power to vote or to direct the vote: 0.
 
  (iii)   Sole power to dispose or to direct the disposition of: 1,649,593.
 
  (iv)   Shared power to dispose or to direct the disposition of: 0.
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.
Mr. Carr is the beneficial owner of 6,875 shares of Common Stock held directly by his spouse. Mr. Carr maintains neither the power to vote or dispose of these shares. Mr. Carr’s spouse maintains the sole right to receive and the power to direct the receipt of dividends from, or the proceeds from the sale of, these shares.
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.

Page 4 of 5 Pages

 

Item 10. Certification.
     By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
SIGNATURE
     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: January 31, 2007  /s/ Oliver T. Carr, Jr.    
  Oliver T. Carr, Jr.   
     
 

Page 5 of 5 Pages