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Duke Realty Corp – ‘11-K’ for 12/31/95 – NT 11-K

As of: Friday, 6/28/96 · For: 12/31/95 · Accession #: 912057-96-13487 · File #: 1-09044

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 6/28/96  Duke Realty Corp                  11-K       12/31/95    1:28K                                    Merrill Corp/FA

Annual Report of an Employee Stock Purchase, Savings or Similar Plan — Form 11-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: NT 11-K     11-K                                                  17     60K

Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (Word, et al.) Schedule of Assets Held for Investment Purposes Schedule of Reportable Transactions
1	1st Page - Filing Submission
14	Item 27a -. Schedule of Assets Held for Investment Purposes
15	Item 27d-. Schedule of Reportable Transactions

NT 11-K 1st Page of 17 TOC ↑Top Previous Next ↓Bottom Just 1st
 
As filed with the Securities and Exchange Commission on June 28, 1996           
================================================================================

      SECURITIES AND EXCHANGE COMMISSION
      Washington, D.C. 20549

     FORM 11-K

      FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE,
      SAVINGS AND SIMILAR PLANS PURSUANT TO SECTION 15(D) OF THE
     SECURITIES EXCHANGE ACT OF 1934

(Mark One)                                                                      

[x] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE          
ACT OF 1934 [FEE REQUIRED]                                                      

For the fiscal year ended December 31, 1995                                     

      OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE      
ACT OF 1934 [NO FEE REQUIRED]                                                   

For the transition period from _________________ to __________________          

Commission file number: 1-9044                                                  

   A.  Full title of the plan and the address of the plan, if different from
that of the issuer named below:                                                 

     DUKE REALTY PROFIT SHARING AND SALARY DEFERRAL PLAN

  B.    Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:                                      

     DUKE REALTY INVESTMENTS, INC.
      8888 KEYSTONE CROSSING, SUITE 1200
     INDIANAPOLIS, INDIANA 46240

NT 11-K 2nd Page of 17 TOC 1st Previous Next ↓Bottom Just 2nd
      DUKE REALTY PROFIT SHARING
      AND SALARY DEFERRAL PLAN

     Financial Statements with
      Supplemental Schedules

      December 31, 1995 and 1994

     (With Independent Auditors' Report Thereon)

NT 11-K 3rd Page of 17 TOC 1st Previous Next ↓Bottom Just 3rd
      DUKE REALTY PROFIT SHARING
      AND SALARY DEFERRAL PLAN

      December 31, 1995 and 1994

     Index

                                                                            Page
                                                                            ----
Independent Auditors' Report                                                  1 

Financial Statements:                                                           

    Statements of Net Assets Available for Plan Benefits                     2

    Statements of Changes in Net Assets Available for Plan Benefits          3

    Notes to Financial Statements                                         4-10

                                                                        Schedule
                                                                        --------

Schedule of Assets Held for Investments Purposes                              1 

Schedule of Reportable Transactions                                           2 

NT 11-K 4th Page of 17 TOC 1st Previous Next ↓Bottom Just 4th
INDEPENDENT AUDITORS' REPORT                                                    
----------------------------                                                    

The Employee Benefits Committee                                                 
DUKE REALTY PROFIT SHARING AND SALARY DEFERRAL PLAN:                            

We have audited the accompanying statements of net assets available for plan    
benefits of Duke Realty Profit Sharing and Salary Deferral Plan as of           
December 31, 1995 and 1994, and the related statements of changes in net        
assets available for plan benefits for the years then ended.  These financial   
statements are the responsibility of the Plan's management.  Our                
responsibility is to express an opinion on these financial statements based     
on our audits.                                                                  

We conducted our audits in accordance with generally accepted auditing          
standards. Those standards require that we plan and perform the audit to        
obtain reasonable assurance about whether the financial statements are free     
of material misstatement. An audit includes examining, on a test basis,         
evidence supporting the amounts and disclosures in the financial statements.    
An audit also includes assessing the accounting principles used and             
significant estimates made by management, as well as evaluating the overall     
financial statement presentation.  We believe that our audits provide a         
reasonable basis for our opinion.                                               

In our opinion, the financial statements referred to above present fairly, in   
all material respects, the net assets available for plan benefits of Duke       
Realty Profit Sharing and Salary Deferral Plan as of December 31, 1995 and      
1994, and the changes in net assets available for plan benefits for the years   
then ended, in conformity with generally accepted accounting principles.        

Our audits were made for the purpose of forming an opinion on the basic         
financial statements taken as a whole.  The supplemental schedules of assets    
held for investment purposes and reportable transactions are presented for      
the purpose of additional analysis and are not a required part of the basic     
financial statements but are supplementary information required by the          
Department of Labor's Rules and Regulations for Reporting and Disclosure        
under the Employee Retirement Income Security Act of 1974.   The supplemental   
schedules have been subjected to the auditing procedures applied in the         
audits of the basic financial statements and, in our opinion, are fairly        
stated in all material respects in relation to the basic financial statements   
taken as a whole.                                                               

KPMG Peat Marwick LLP                                                           
Indianapolis, Indiana                                                           
June 28, 1996                                                                   

     -1-

NT 11-K 5th Page of 17 TOC 1st Previous Next ↓Bottom Just 5th
     DUKE REALTY PROFIT SHARING AND SALARY DEFERRAL PLAN

      Statements of Net Assets Available for Plan Benefits

      December 31, 1995 and 1994

                                     1995           1994
                                     ----           ----

Assets held by Trustee:                                                         
Investments, at market value:                                                 
Collective trust                         $   902,492     $1,411,464       
Mutual funds                               6,256,990      3,837,336       
Common stock                               2,395,518      1,318,356       
Loans                                        161,010              -       
Insurance cash surrender value                     -         77,064       

Cash held for investment                           519        208,949         

Contributions receivable:                                                       
Participants                                  65,538         63,421       
Employer                                      34,393        224,184       
                                    ---------      ---------

NET ASSETS AVAILABLE FOR PLAN BENEFITS    $9,816,460     $7,140,774       
                                    ---------      ---------
                                    ---------      ---------

See accompanying notes to financial statements.                                 

     -2-

NT 11-K 6th Page of 17 TOC 1st Previous Next ↓Bottom Just 6th
     DUKE REALTY PROFIT SHARING AND SALARY DEFERRAL PLAN

     Statements of Changes in Net Assets Available for Plan Benefits

      Years Ended December 31, 1995 and 1994

                                   1995           1994
                                   ----           ----
Additions to net assets:                                                        
Contributions:                                                            
Participants' salary deferral          $  712,307     $  554,741    
Employer matching of salary deferral      236,752        119,708    
Participants'  rollover                    71,531         57,723    
Contributions receivable                   99,931        287,605    
                                    ---------      ---------
                                    1,120,521      1,019,777
                                    ---------      ---------

Investment income:                                                        
Net appreciation in fair value of                                   
investments                            1,066,047         97,796   
Interest and dividends                    754,102        254,520    
Increase in insurance cash                                          
surrender value                           12,156         20,916   
                                    ---------      ---------
                                    1,832,305        373,232
                                    ---------      ---------
Total additions                         2,952,826      1,393,009    
                                    ---------      ---------

Deductions from net assets:                                                     
Benefits paid to participants                256,292        556,615       
Life insurance premium payments               12,838         24,377       
Administrative expenses                        8,010          9,295       
                                    ---------      ---------
Total deductions                          277,140        590,287    
                                    ---------      ---------

Net increase                            2,675,686        802,722    

Net assets available for plan benefits:                                         
Beginning of year                       7,140,774      6,338,052    
                                    ---------      ---------

End of year                            $9,816,460     $7,140,774    
                                    ---------      ---------
                                    ---------      ---------

See accompanying notes to financial statements.                                 

     -3-

NT 11-K 7th Page of 17 TOC 1st Previous Next ↓Bottom Just 7th
     DUKE REALTY PROFIT SHARING AND SALARY DEFERRAL PLAN

     Notes to Financial Statements

(1)  DESCRIPTION OF PLAN                                                        

The following description of the Duke Realty Profit Sharing and Salary
   Deferral Plan (the Plan) provides only general information.  Participants
   should refer to the Plan agreement for a more complete description of the
Plan's provisions.                                                    

GENERAL                                                               

   The Plan is a defined contribution plan sponsored by Duke Realty Services
   Limited Partnership and predecessor companies (the Employer) covering all
    full-time employees who have completed one-half year of service as defined
by the Plan and are age 21 years or older.  The Plan is subject to the
    provisions of the Employee Retirement Income Security Act of 1974 (ERISA).

CONTRIBUTIONS                                                         

     Eligible participants may elect to defer a percentage of their compensation
to be contributed to their Employee Deferral Account.  Each year the  
   Employee Benefits Committee (the Committee) fixes the minimum and maximum
 percent that may be contributed, not to exceed 15% of the participants'
compensation for each plan year subject to limitations imposed by the 
   Internal Revenue Service.  The Employer matches participant contributions
annually up to a maximum of the greater of $500 or 2% of total        
compensation.  The Employer matching contribution is limited to the   
participant's first $150,000 of compensation, and the contribution is 
   invested in the common stock of Duke Realty Investments, Inc., the parent
of the general partner of the Employer.                               

    The Employer may also make discretionary contributions of a portion of its
profits to the Plan to be invested in the common stock of Duke Realty 
Investments, Inc.  The Employer made a profit sharing contribution of 
$120,000 in 1994.                                                     

PARTICIPANTS ACCOUNTS                                                 

     Each participant's account is credited with the participant's contribution,
  the Employer matching contribution, allocations of the Employer's profit
   sharing contribution (when applicable), Plan earnings, and forfeitures of
   terminated participants' non-vested accounts upon the distribution of the
  vested portion of their accounts.  The benefit to which a participant is
entitled is the benefit that can be provided from the participant's   
account.                                                              

                                                                       Continued
     -4-

NT 11-K 8th Page of 17 TOC 1st Previous Next ↓Bottom Just 8th
     DUKE REALTY PROFIT SHARING AND SALARY DEFERRAL PLAN

     Notes to Financial Statements

VESTING                                                               

Participants are immediately vested in elective salary reduction      
contributions, Employer matching contributions and the actual earnings
  thereon.  Vesting in both the profit sharing contribution and forfeiture
   allocation and the earnings thereon is based upon the years of service of
the participant.  A year of service means a plan year in which the    
participant completes at least 1,000 hours of service.  A participant 
 becomes 20% vested after three years of service and vests an additional
20% for each year of service thereafter and is 100% vested after seven
years of service.                                                     

BENEFITS                                                              

  When a distribution is made upon termination of service or retirement, a
 participant's vested account balance is to be distributed in a lump-sum
    payment within 60 days after completion of the Plan valuation date for the
period in which the event giving rise to the distribution occurred.   

FORFEITURES                                                           

Participants who terminate employment and receive distribution of the 
vested portion of their profit sharing account forfeit any non-vested 
portion of their account.  These forfeitures are allocated to other   
participants in the same manner as the profit sharing contributions.  

(2)  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES                                 

INVESTMENT VALUATION                                                  

     Mutual fund and common stock investments are stated at fair market value as
 determined by quoted market prices.  The collective trust investment is
stated at fair market value as reported by the trustee.  The amount   
recorded as loans approximates fair value because the interest rates  
charged approximate current market rates.                             

ADMINISTRATIVE EXPENSES                                               

    Trustee fees are paid by the Plan as incurred.  Other expenses of the Plan
are paid directly by the Employer.                                    

                                                                       Continued
     -5-

NT 11-K 9th Page of 17 TOC 1st Previous Next ↓Bottom Just 9th
     DUKE REALTY PROFIT SHARING AND SALARY DEFERRAL PLAN

     Notes to Financial Statements

TAX STATUS                                                            

  The Plan has received a favorable determination letter from the Internal
Revenue Service that the Plan qualifies under Section 401(a) of the   
 Internal Revenue Code and is exempt from federal income taxes under the
provision of Section 501(a).                                          

    As a general rule, participant salary reduction contributions and employer
   contributions are not taxable to a participant until distributed from the
Plan.                                                                 

RECLASSIFICATION                                                      

  Certain 1994 amounts have been reclassified in order to confirm with the
current year presentation.                                            

(3)  PLAN TERMINATION                                                           

 Although it has not expressed any intent to do so, the Employer has the
  right under the Plan to discontinue its contributions at any time and to
 terminate the Plan subject to the provisions of ERISA.  In the event of
   Plan termination, participants will become 100% vested in their accounts.

(4)  INVESTMENTS                                                                

    The Employee Benefit Committee of Duke Realty Services Limited Partnership
    served as trustee during 1994, and on January 1, 1995, Merrill Lynch Trust
 Company was established as the new trustee.  Investments at fair market
value at December 31, 1995 and 1994, include the following:           

                                                                       Continued
     -6-

NT 11-K 10th Page of 17 TOC 1st Previous Next ↓Bottom Just 10th
     DUKE REALTY PROFIT SHARING AND SALARY DEFERRAL PLAN

     Notes to Financial Statements

(4)  INVESTMENTS (continued)                                                    

                                                                [Download Table]


                                                         1995           1994   
                                                      ----------     ----------

                                                                               
Collective trust:                                                              

   Merrill Lynch Retirement Preservation Trust        $  902,492     $1,411,464
                                                      ----------     ----------
                                                      ----------     ----------

Mutual funds:                                                                  

   AIM Constellation Fund                                599,745         22,622
   AIM Limited Maturity Treasury Shares Fund              42,981          -    
   Merrill Lynch Capital Fund, Inc. Class B Shares         -          3,748,834
   Merrill Lynch Capital Fund, Inc. Class D Shares     4,551,280          -    
   Merrill Lynch Growth Fund Class B Shares                -             29,617
   Merrill Lynch Growth Fund Class D Shares              703,175          -    
   The Bond Fund of America                                -              4,568
   EuroPacific Growth Fund                                 -             31,695
   Templeton Foreign Fund                                359,809          -    
                                                       ---------      ---------

                                                       6,256,990      3,837,336
                                                       ---------      ---------
                                                       ---------      ---------

Common stock:                                                                  

   Duke Realty Investments, Inc.                       2,395,518      1,318,356
                                                       ---------      ---------
                                                       ---------      ---------


(5) CASH HELD FOR INVESTMENT                                                    

Cash held for investment primarily represents contributions received by 
   Merrill Lynch, but not yet invested in the respective funds.  The cash held
for investment is maintained in an interest bearing account until it is 
transferred into the appropriate directed fund.                         

(6) LOANS                                                                       

Beginning in March of 1995 the Committee authorized the Trustee to make 
loans to participants. Participant loan withdrawals are limited to the  
  lesser of $50,000 or 50% of the participants vested account balance. Under
terms of the loan agreement loans must be payable in not more than five 
years, unless used to acquire a principal residence. Interest rates are 
fixed at the commercial lending rates.                                  

                                                                       Continued
     -7-

NT 11-K 11th Page of 17 TOC 1st Previous Next ↓Bottom Just 11th
DUKE REALTY PROFIT SHARING AND SALARY DEFERRAL PLAN                             

Notes to Financial Statements                                                   

(7) BENEFITS PAYABLE                                                            

   At December 31, 1995, benefits payable to participants amounted to $50,441.

(8) RECONCILIATION BETWEEN FINANCIAL STATEMENTS AND FORM 5500                   

    At December 31, 1995, net assets available for plan benefits reported in the
financial statements were greater than reported on Form 5500 by $50,441 
 which resulted from Form 5500 including a liability for benefits payable.

                                                                       Continued
     -8-

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 DUKE REALTY PROFIT SHARING AND SALARY DEFERRAL PLAN

 Notes to Financial Statements

(9)  NET ASSETS BY FUND                                                         

Net assets of the Plan by fund as of December 31, 1995 follow:        

                                                        [Enlarge/Download Table]

                                 AIM              AIM      Capital Fund,   Capital Fund,     Growth         Growth        The Bond  
                             Constellation      Limited     Inc. Class      Inc. Class     Fund Class     Fund Class       Fund of  
                                 Fund        Maturity Fund   B Shares        D Shares       B Shares       D Shares        America  
                             -------------------------------------------------------------------------------------------------------
                                                                                                                                    
Investments held by Trustee                                                                                                         
  Collective trust            $        -              -              -              -              -              -              -  
  Mutual funds                   599,745         42,981              -      4,551,280              -        703,175              -  
  Common stock                         -              -              -              -              -              -              -  
  Loans                                -              -              -              -              -              -              -  
  Cash held for investment             -              -              -              -              -              -              -  
                             -------------------------------------------------------------------------------------------------------
                                 599,745         42,981              -      4,551,280              -        703,175              -  
Contributions receivable          14,406          1,963              -         10,747              -         15,043              -  
                             -------------------------------------------------------------------------------------------------------
  Net assets available for                                                                                                          
    plan benefits             $  614,151         44,944              -      4,562,027              -        718,218              -  
                             -------------------------------------------------------------------------------------------------------
                             -------------------------------------------------------------------------------------------------------

                              Euro Pacific     Templeton    Insurance                      Retirement                               
                                 Growth         Foreign       Stock        Cash Surrender Preservation       Loan                   
                                  Fund           Fund          Fund            Value         Trust           Fund          Total    
                             ------------------------------------------------------------------------------------------------------ 
                                                                                                                                    
Investments held by Trustee                                                                                                         
  Collective trust                     -              -              -              -        902,492              -        902,492  
  Mutual funds                         -        359,809              -              -              -              -      6,256,990  
  Common stock                         -              -      2,395,518              -              -              -      2,395,518  
  Loans                                -              -              -              -              -        161,010        161,010  
  Cash held for investment             -              -              -              -            519              -            519  
                             -------------------------------------------------------------------------------------------------------
                                       -        359,809      2,395,518              -        903,011        161,010      9,716,529  
Contributions receivable               -          9,511         44,481              -          3,780              -         99,931  
                             -------------------------------------------------------------------------------------------------------
  Net assets available for                                                                                                          
    plan benefits                      -        369,320      2,439,999              -        906,791        161,010      9,816,460  
                             -------------------------------------------------------------------------------------------------------
                             -------------------------------------------------------------------------------------------------------

NET ASSETS OF THE PLAN BY FUND AS OF DECEMBER 31, 1994 FOLLOW:              

                                                        [Enlarge/Download Table]

                                 AIM              AIM      Capital Fund,   Capital Fund,     Growth         Growth        The Bond  
                             Constellation      Limited     Inc. Class      Inc. Class     Fund Class     Fund Class       Fund of  
                                 Fund        Maturity Fund   B Shares        D Shares       B Shares       D Shares        America  
                             -------------------------------------------------------------------------------------------------------
                                                                                                                                    
Investments held by Trustee                                                                                                         
  Collective trust            $        -              -              -              -              -              -              -  
  Mutual funds                    22,622              -      3,748,834              -         29,617              -          4,568  
  Common stock                         -              -              -              -              -              -              -  
  Insurance cash                                                                                                                    
    surrender value                    -              -              -              -              -              -              -  
  Cash held for investment        12,174              -        162,422              -          9,095              -          1,651  
                             -------------------------------------------------------------------------------------------------------
                                  34,796              -      3,911,256              -         38,712              -          6,219  

Contributions receivable          13,616              -          7,835              -         12,077              -          2,005  
                             -------------------------------------------------------------------------------------------------------
  Net assets available for                                                                                                          
    plan benefits             $   48,412              -      3,919,091              -         50,789              -          8,224  
                             -------------------------------------------------------------------------------------------------------
                             -------------------------------------------------------------------------------------------------------

                              Euro Pacific     Templeton    Insurance                      Retirement                               
                                 Growth         Foreign       Stock        Cash Surrender Preservation       Loan                   
                                  Fund           Fund          Fund            Value         Trust           Fund          Total    
                             ------------------------------------------------------------------------------------------------------ 
                                                                                                                                    
Investments held by Trustee                                                                                                         
  Collective trust                     -              -              -              -      1,411,464              -      1,411,464  
  Mutual funds                    31,695              -              -              -              -              -      3,837,336  
  Common stock                         -              -      1,318,356              -              -              -      1,318,356  
  Insurance cash                                                                                                                    
    surrender value                    -              -              -         77,064              -              -         77,064  
  Cash held for investment        18,464              -          5,143              -              -              -        208,949  
                             -------------------------------------------------------------------------------------------------------
                                  50,159              -      1,323,499         77,064      1,411,464              -      6,853,169  

Contributions receivable          16,838              -        230,283              -          4,951              -        287,605  
                             -------------------------------------------------------------------------------------------------------
  Net assets available for                                                                                                          
    plan benefits                 66,997              -      1,553,782         77,064      1,416,415              -      7,140,774  
                             -------------------------------------------------------------------------------------------------------
                             -------------------------------------------------------------------------------------------------------

-9- 

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 DUKE REALTY PROFIT SHARING AND SALARY DEFERRAL PLAN

 Notes to Financial Statements

(10) INVESTMENT FUND CHANGES                                                    
     A summary of changes in plan assets by fund for the year ended December 31,
1995 follows:                                                         

                                                        [Enlarge/Download Table]

                                AIM              AIM      Capital Fund,   Capital Fund,     Growth         Growth        The Bond  
                            Constellation      Limited     Inc. Class      Inc. Class     Fund Class     Fund Class       Fund of  
                                Fund        Maturity Fund   B Shares        D Shares       B Shares       D Shares        America  
                            -------------------------------------------------------------------------------------------------------
                                                                                                                                   
Plan assets at                                                                                                                     
  December 31, 1994          $   48,412              -      3,919,091              -         50,789              -          8,224  

Additions:                                                                                                                         
  Participants' salary                                                                                                             
    deferrals                   151,126          4,751         76,684         27,328        113,492         36,192         15,215  
  Employer matching                   -              -              -              -              -              -              -  
  Participants' rollover         20,957          1,265          1,290          2,337          9,742          4,656          1,480  
  Loan repayments                 1,004              -            785              -          1,420              -            293  
  Insurance cash                                                                                                                   
    surrender value                   -              -              -              -              -              -              -  
  Interest and dividends         13,615            213        113,725        359,257            166         60,951            688  
  Net appreciation                                                                                                                 
    (depreciation) in fair                                                                                                         
    value of investments         94,140            240        433,409        337,020         10,268          2,195            559  
  Contribution receivable        14,406          1,963              -         10,747              -         15,043              -  
                            -------------------------------------------------------------------------------------------------------
  Total additions               295,248          8,432        625,893        736,689        135,088        119,037         18,235  
                            -------------------------------------------------------------------------------------------------------
Deductions:                                                                                                                        
  Benefits paid                                                                                                                    
    to participants             (3,471)              -      (131,357)       (29,132)        (3,442)           (96)        (1,078)  
  Administrative expenses             -              -              -        (1,946)              -              -          (177)  
  Loans                         (1,832)              -       (79,981)              -        (4,408)              -          (409)  
  Life insurance premiums             -              -              -              -              -              -              -  
                            -------------------------------------------------------------------------------------------------------
  Total deductions              (5,303)              -      (211,338)       (31,078)        (7,850)           (96)        (1,664)  

Transfers between funds         275,794         36,512    (4,333,646)      3,856,416      (178,027)        599,277       (24,795)  
                            -------------------------------------------------------------------------------------------------------
Plan assets at                                                                                                                     
  December 31, 1995          $  614,151         44,944              -      4,562,027              -        718,218              -  
                            -------------------------------------------------------------------------------------------------------
                            -------------------------------------------------------------------------------------------------------

                             Euro Pacific     Templeton    Insurance                      Retirement                               
                                Growth         Foreign       Stock        Cash Surrender Preservation       Loan                   
                                 Fund           Fund          Fund            Value         Trust           Fund          Total    
                            ------------------------------------------------------------------------------------------------------ 
                                                                                                                                   
Plan assets at                                                                                                                     
  December 31, 1994              66,997              -      1,553,782         77,064      1,416,415              -      7,140,774  

Additions:                                                                                                                         
  Participants' salary                                                                                                             
    deferrals                   111,287         23,894         88,653         12,838         50,847              -        712,307  
  Employer matching                   -              -        236,752              -              -              -        236,752  
  Participants' rollover          3,585            304         23,438              -          2,477              -         71,531  
  Loan repayments                   568              -          1,132              -            461        (5,663)              -  
  Insurance cash                                                                                                                   
    surrender value                   -              -              -         12,156              -              -         12,156  
  Interest and dividends            610         14,601        126,289              -         61,814          2,173        754,102  
  Net appreciation                                                                                                                 
    (depreciation) in fair                                                                                                         
    value of investments         12,980       (19,243)        194,479              -              -              -      1,066,047  
  Contribution receivable             -          9,511         44,481              -          3,780              -         99,931  
                            -------------------------------------------------------------------------------------------------------
  Total additions               129,030         29,067        715,224         24,994        119,379        (3,490)      2,952,826  
                            -------------------------------------------------------------------------------------------------------
Deductions:                                                                                                                        
  Benefits paid                                                                                                                    
    to participants             (3,292)          (167)       (62,003)              -       (22,254)              -      (256,292)  
  Administrative expenses       (1,605)              -        (4,282)              -              -              -        (8,010)  
  Loans                         (1,662)              -       (51,246)              -       (24,962)        164,500              -  
  Life insurance premiums             -              -              -       (12,838)              -              -       (12,838)  
                            -------------------------------------------------------------------------------------------------------
  Total deductions              (6,559)          (167)      (117,531)       (12,838)       (47,216)        164,500      (277,140)  

Transfers between funds       (189,468)        340,420        288,524       (89,220)      (581,787)              -              -  
                            -------------------------------------------------------------------------------------------------------
Plan assets at                                                                                                                     
  December 31, 1995                   -        369,320      2,439,999              -        906,791        161,010      9,816,460  
                            -------------------------------------------------------------------------------------------------------
                            -------------------------------------------------------------------------------------------------------

-10-

NT 11-K 14th Page of 17 TOC 1st Previous Next ↓Bottom Just 14th
                                                                      Schedule 1
                                                                      ----------
     DUKE REALTY PROFIT SHARING AND SALARY DEFERRAL PLAN

      Item 27a - Schedule of Assets Held for Investment Purposes

     December 31, 1995

                                                        [Enlarge/Download Table]


Identity                          Description of Investment               Shares       Cost        Current Value 
-----------------------------------------------------------------------------------------------------------------

                                                                                                                 
Collective trust:                                                                                                
*     Merrill Lynch               Retirement Preservation Trust           902,492    $  902,492     $  902,492   
                                                                          -------    ----------     ----------   
                                                                          -------    ----------     ----------   

Mutual funds:                                                                                                    
*     Merrill Lynch               Capital Fund, Inc. Class D Shares       149,076     4,261,624      4,551,280   

*     Merrill Lynch               Growth Fund Class D Shares               32,315       701,000        703,175   

      AIM Family of Funds         AIM Limited Maturity Fund                 4,260        42,744         42,981   

      AIM Family of Funds         AIM Equity Constellation Fund            26,644       575,538        599,745   

      Templeton Family of Funds   Templeton Foreign Fund                   39,195       379,062        359,809   
                                                                          -------     ---------      ---------   

                                                                          251,490     5,959,968      6,256,990   
                                                                          -------     ---------      ---------   
                                                                          -------     ---------      ---------   

Common stock:                                                                                                    
*     Duke Realty                                                                                                
       Investments, Inc.          Common stock                             76,351     2,004,943      2,395,518   
                                                                          -------     ---------      ---------   
                                                                          -------     ---------      ---------   

Loans:                                                                                                           
*     N/A                         Participant Loans                          -          161,010        161,010   
                                                                          -------     ---------      ---------   
                                                                          -------     ---------      ---------   


NT 11-K 15th Page of 17 TOC 1st Previous Next ↓Bottom Just 15th
                                                                      Schedule 2
                                                                      ----------
     DUKE REALTY PROFIT SHARING AND SALARY DEFERRAL PLAN

     Item 27d- Schedule of Reportable Transactions

      Year Ended December 31, 1995

                                                        [Enlarge/Download Table]


                                                                                                               Current             
                   Description                                                                                 Value on            
                       of                        Purchase    Selling      Lease     Expense      Cost of      Transaction    Gain/ 
Identity of Issue     Asset            Fund       Price       Price       Rental    Incurred      Asset          Date       (Loss) 
-----------------------------------------------------------------------------------------------------------------------------------

                                                                                                                                   
Merrill Lynch      Common Stocks  Capital Fund,  $     -     $4,728,755       -          -      $4,511,790   $4,728,755   $216,965 
                    and Bonds      Inc. Class                                                                                      
                    B Shares                                                                                                       

Merrill Lynch      Common Stocks  Capital Fund,   4,728,755        -          -          -       4,728,755         -          -    
                    and Bonds      Inc. Class                                                                                      
                    D Shares                                                                                                       

Merrill Lynch      Common Stocks  Capital Fund,     360,186        -          -          -         360,186         -          -    
                    and Bonds      Inc. Class                                                                                      
                    D Shares                                                                                                       

Series of                                                                                                                          
---------                                                                                                                          
 Transactions                                                                                                                      
-------------                                                                                                                      
 of the Same                                                                                                                       
------------                                                                                                                       
 Issue:                                                                                                                            
-------                                                                                                                            

AIM Family         Common Stocks  AIM               430,229        -           -         -         430,229         -          -    
 of Funds           and Bonds      Constellation                                                                                   

Merrill Lynch      Common Stocks  Capital Fund,     587,532        -           -         -         587,532         -          -    
                    and Bonds      Inc. Class                                                                                      
                                   B Shares                                                                                        

Merrill Lynch      Common Stocks  Capital Fund,        -        811,151        -         -         843,604      811,151     32,453 
                    and Bonds      Inc. Class                                                                                      
                    D Shares                                                                                                       

Merrill Lynch      Common Stocks  Growth Fund       582,658        -           -         -         582,658         -          -    
                    and Bonds      Class D                                                                                         
                                   Shares                                                                                          

Merrill Lynch      Common Stocks  Stock Fund      1,014,996        -           -         -       1,014,996         -          -    


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      SIGNATURES

 THE PLAN.  Pursuant to the requirements of the Securities Exchange Act of
1934, the trustees (or other persons who administer the employee benefit plan)  
have duly caused this annual report to be signed on its behalf  by the          
undersigned hereunto duly authorized.                                           

     DUKE REALTY PROFIT SHARING AND SALARY DEFERRAL PLAN

Date:    June 28, 1996                           /s/ Dennis D. Oklak            
                                       ---------------------
                                 Dennis D. Oklak
                                    Plan Administrator

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The Board of Directors                                                          
DUKE REALTY INVESTMENTS, INC.:                                                  

We consent to incorporation by reference in the registration statement (No.     
33-55727) on Form S-8 of Duke Realty Investments, Inc. of our report dated      
June 28, 1996, relating to the statements of net assets available for plan      
benefits of Duke Realty Profit Sharing and Salary Deferral Plan as of           
December 31, 1995 and 1994, and the related statements of changes in net        
assets available for plan benefits for the years then ended, and the related    
supplemental schedules of assets held for investment purposes and reportable    
transactions, which report appears in the December 31, 1995, annual report on   
Form 11-K of Duke Realty Profit Sharing and Salary Deferral Plan.               

KPMG Peat Marwick LLP                                                           
Indianapolis, Indiana                                                           
June 28, 1996

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Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘11-K’ Filing	Date	First	Last	Other Filings

Filed on:	6/28/96	1	17
For Period End:	12/31/95	1	17	10-K, 10-K/A
	1/1/95	9
	12/31/94	2	17	10-K, 10-K/A, 11-K
				List all Filings

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Filing Submission 0000912057-96-013487 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Duke Realty Corp – ‘11-K’ for 12/31/95 – NT 11-K

As of: Friday, 6/28/96 · For: 12/31/95 · Accession #: 912057-96-13487 · File #: 1-09044

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Annual Report of an Employee Stock Purchase, Savings or Similar Plan — Form 11-KFiling Table of Contents

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Dates Referenced Herein and Documents Incorporated by Reference

Annual Report of an Employee Stock Purchase, Savings or Similar Plan — Form 11-K
Filing Table of Contents