Real Estate - NOVEMBER 20, 2020

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

PAC announces redemption of $208m

by Released

Preferred Apartment Communities announced that it intends to redeem 208,786 shares of its 6 percent Series A Redeemable Preferred Stock representing approximately 11 percent of the total outstanding shares of Series A Preferred Stock, on Nov. 24 ( the redemption date).

The called shares represent approximately 80 percent of all Series A Preferred Stock currently available to call at the company’s option. The shares of Series A Preferred Stock will be redeemed at their initial stated value of $1,000 per share, plus accrued and unpaid dividends up to, and including, the redemption date in an amount equal to $4 per share, for total proceeds of $1,004 per share. Payment will be made in cash.

“The recently completed sale of our student housing asse

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.