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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D/A
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13D-1(A) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13D-2
(AMENDMENT NO. 15)
PROLOGIS TRUST
(NAME OF ISSUER)
COMMON SHARES OF BENEFICIAL INTEREST, $.01 PAR VALUE
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(Title of Class of Securities)
743410 10 2
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(CUSIP Number)
JEFFREY A. KLOPF, SECRETARY
SECURITY CAPITAL GROUP INCORPORATED
125 LINCOLN AVENUE
SANTA FE, NEW MEXICO 87501
(505) 982-9292
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
APRIL 29, 2002
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(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: [ ].
(Continued on following pages)
(Page 1 of 11 Pages)
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SCHEDULE 13D
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CUSIP NO. 861907 10 3 Page 2 of 11
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1. NAMES OF REPORTING PERSONS
Security Capital Group Incorporated
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
36-3692698
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
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Number of 7. SOLE VOTING POWER
Shares 49,903,814
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Beneficially 8. SHARED VOTING POWER
Owned By -0-
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Each 9. SOLE DISPOSITIVE POWER
Reporting 49,903,814
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Person With 10. SHARED DISPOSITIVE POWER
-0-
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
49,903,814
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.6%
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14. TYPE OF REPORTING PERSON REPORTING
CO
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SCHEDULE 13D
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CUSIP NO. 861907 10 3 Page 3 of 11
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1. NAMES OF REPORTING PERSONS
SC Capital Incorporated
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
74-2985638
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
BK, OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
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Number of 7. SOLE VOTING POWER
Shares 49,903,814
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Beneficially 8. SHARED VOTING POWER
Owned By -0-
------------------------------------------------------------------
Each 9. SOLE DISPOSITIVE POWER
Reporting 49,903,814
------------------------------------------------------------------
Person With 10. SHARED DISPOSITIVE POWER
-0-
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
49,903,814
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.6%
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14. TYPE OF REPORTING PERSON REPORTING
CO
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SCHEDULE 13D
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CUSIP NO. 861907 10 3 Page 4 of 11
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1. NAMES OF REPORTING PERSONS
SC Incorporated
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
88-0330184
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
BK, OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
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Number of 7. SOLE VOTING POWER
Shares 49,903,814
------------------------------------------------------------------
Beneficially 8. SHARED VOTING POWER
Owned By -0-
------------------------------------------------------------------
Each 9. SOLE DISPOSITIVE POWER
Reporting 49,903,814
------------------------------------------------------------------
Person With 10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
49,903,814
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.6%
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14. TYPE OF REPORTING PERSON REPORTING
CO
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SCHEDULE 13D
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CUSIP NO. 861907 10 3 Page 5 of 11
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1. NAMES OF REPORTING PERSONS
Security Capital Operations Incorporated
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
52-2146697
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
BK, OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
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Number of 7. SOLE VOTING POWER
Shares 49,903,814
------------------------------------------------------------------
Beneficially 8. SHARED VOTING POWER
Owned By -0-
------------------------------------------------------------------
Each 9. SOLE DISPOSITIVE POWER
Reporting 49,903,814
------------------------------------------------------------------
Person With 10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
49,903,814
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.6%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON REPORTING
CO
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SCHEDULE 13D
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CUSIP NO. 861907 10 3 Page 6 of 11
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1. NAMES OF REPORTING PERSONS
Security Capital Warehouse Distribution Business Trust
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
74-2869170
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
BK, OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
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Number of 7. SOLE VOTING POWER
Shares 49,903,814
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Beneficially 8. SHARED VOTING POWER
Owned By -0-
------------------------------------------------------------------
Each 9. SOLE DISPOSITIVE POWER
Reporting 49,903,814
------------------------------------------------------------------
Person With 10. SHARED DISPOSITIVE POWER
-0-
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
49,903,814
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.6%
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14. TYPE OF REPORTING PERSON REPORTING
CO
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This Amendment No. 15 (this "Amendment") is being filed to a
Schedule 13D filed by Security Capital Group Incorporated, formerly known as
Security Capital Realty Incorporated, a Maryland corporation ("Group"), SC
Capital Incorporated, a Nevada corporation and wholly owned subsidiary of Group
("SC Capital"), SC Realty Incorporated, a Nevada corporation and wholly owned
subsidiary of SC Capital ("SC-Realty"), Security Capital Operations
Incorporated, a Maryland corporation and wholly owned subsidiary of SC-Realty
("Operations"), and Security Capital Warehouse Distribution Business Trust, a
Maryland real estate investment trust and subsidiary of Operations (formerly
West Mixed-Use Realty Investors Trust, "West"), and amends the Schedule 13D
filed by Group, SECAP Realty Incorporated, a Delaware corporation ("SECAP"),
Security Capital Group Incorporated, a Delaware corporation ("Old Group"), and
William D. Sanders, an individual, on March 11, 1994, and amended on August 16,
1994, September 28, 1994, October 7, 1994, August 24, 1995, September 30, 1995,
August 21, 1996, September 26, 1997, April 30, 1997, October 8, 1997, April 26,
1999, December 11, 2001, December 17, 2001, and March 11, 2002 (as so amended,
the "13D"). Capitalized terms used herein without definition shall have the
meanings ascribed thereto in the 13D.
ITEM 4. PURPOSE OF THE TRANSACTION
Item 4 is hereby amended to add the following:
On April 29, 2002, pursuant to Section 2.6(a) of the Merger
Agreement, GE Capital elected (the "Stock Election") to make 39,121,830 shares
of the Common Stock beneficially owned by Security Capital a part of the Merger
Consideration and to reduce the amount of cash to be included in the Merger
Consideration pursuant to the terms of such Section 2.6(a). In accordance with
Section 2.6(c) of the Merger Agreement, GE Capital has the right to revoke the
Stock Election at any time on or before May 4, 2002. A copy of the Stock
Election is attached hereto as Exhibit 6 and incorporated herein by reference.
The aggregate number of shares of ProLogis Common Stock to be
distributed by Security Capital at the Effective Time pursuant to the Stock
Election described above will be based on the actual number of Shares of
Security Capital outstanding at such time. Based on the current number of
outstanding Shares of Security Capital, GE Capital's Stock Election will result
in Security Capital retaining approximately 9.8% of the outstanding shares of
ProLogis Common Stock following the Merger.
If 39,121,830 shares of ProLogis Common Stock are distributed as
Merger Consideration, Group will own approximately 9.8% of the ProLogis Common
Stock after the Merger. Accordingly, at such time, and for as long as Group
owned less than 10% of the ProLogis Common Stock, Group would no longer have the
right to designate any persons for nomination to the ProLogis Board of Trustees,
pursuant to the Third Amended and Restated Investor Agreement between Group and
ProLogis (the "Investor Agreement"). Similarly, upon completion of the merger
and distribution of 32.8 million shares of ProLogis Common Stock, Group would no
longer have approval rights with respect to ProLogis actions including:
(1) the issuance of equity securities or securities convertible
into equity securities (other than issuances in connection
with option, dividend reinvestment and similar plans) for less
than the fair market value of such securities;
(2) the issuance of any preferred shares which would result in the
fixed charge coverage ratio (as defined in the investor
agreement) being less than 1.4 to 1.0;
(3) adopting any employee benefit plans under which common
shares may be issued;
(4) the compensation of ProLogis' senior officers; and
(5) the incurrence of additional indebtedness which would
result in the interest expense coverage ratio (as defined in
the investor agreement) being less than 2.0 to 1.0.
Both prior to and following the Merger, Group will continue to be
the beneficial owner of ProLogis Common Stock, and 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 Group is subject or
which otherwise apply to the purchase or sale of ProLogis Common Stock
including, without limitation, the Merger Agreement. Subject to these
requirements and limitations, however, Group reserves all of its rights with
respect to its investment intent as previously described in this Schedule 13D.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 6 Letter from General Electric Capital Corporation to Security
Capital Group Incorporated dated April 29, 2002.
SIGNATURE
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned certifies that the information set forth
in this statement is true, complete and correct.
SECURITY CAPITAL GROUP INCORPORATED
By: /s/ Jeffrey A. Klopf
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Name: Jeffrey A. Klopf
Title: Senior Vice President and
Secretary
SC CAPITAL INCORPORATED
By: /s/ Jeffrey A. Klopf
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Name: Jeffrey A. Klopf
Title: Secretary
SC REALTY INCORPORATED
By: /s/ Jeffrey A. Klopf
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Name: Jeffrey A. Klopf
Title: Secretary
SECURITY CAPITAL OPERATIONS
INCORPORATED
By: /s/ Jeffrey A. Klopf
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Name: Jeffrey A. Klopf
Title: Secretary
SECURITY CAPITAL WAREHOUSE
DISTRIBUTION BUSINESS TRUST
By: /s/ Jeffrey A. Klopf
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Name: Jeffrey A. Klopf
Title: Secretary
April 29, 2002
Exhibit Index
Exhibit 6 Letter from General Electric Capital Corporation to Security
Capital Group Incorporated dated April 29, 2002.