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Glimcher Realty Trust | 6.875% Series I Cumulative Redeemable Preferred Shares of Beneficial Interest (GRT.PRI)
Prospectus excerpt: We are offering 3,600,000 shares of our 6.875% Series I Cumulative Redeemable Preferred Shares of Beneficial Interest, par value $0.01 per share, which we refer to as the ôSeries I Preferred Sharesö. Cumulative distributions on the Series I Preferred Shares will be payable quarterly on or about the 15th day of January, April, July and October of each year, beginning on July 15, 2013. The distribution rate on the Series I Preferred Shares is 6.875% per annum of the $25.00 per share liquidation preference, which is equivalent to $1.71875 per share per annum. Except as set forth below and as necessary to preserve our status as a real estate investment trust, or ôREITö, for Federal income tax purposes, we may not redeem the Series I Preferred Shares prior to March 27, 2018. On and after March 27, 2018, we may, at our option, redeem the Series I Preferred Shares, in whole or from time to time in part, by paying $25.00 per share, plus any accrued and unpaid distributions to, but not including, the date of redemption. Full Prospectus PDF », GRT Page »
Series: | I | Alternate symbology: | GRT-I, GRT-PI, GRTprI | Redeemable?: | Yes | Call Date: | 3/27/2018 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 3,600,000 | Overallotment: | 400,000 | Liquidation Preference: | $25 | Original Coupon: | 6.88% | Pay Period: | Quarterly | Pay Dates: | 15-Jan, 15-Apr, 15-Jul, 15-Oct | CDx3 Compliance Rating: |
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Glimcher Realty Trust is a self-administered and self-managed real estate investment trust. Co. owns, leases, manages and develops a portfolio of retail properties (Properties). The Properties consist of open-air centers, enclosed regional malls, outlet centers and community shopping centers. As of Dec 31 2013, Co. owned material interests in and managed 28 Properties which are located in 15 states. The properties contain contain an aggregate of approx. 19,300,000 sq. ft. of gross leasable area. Co., by and through its affiliates, holds service marks for the term GLIMCHER® and certain of its Property names such as Scottsdale Quarter®, and Polaris Fashion Place®. Preferreds: GRT.PRF.CL, GRT.PRG, GRT.PRH, GRT.PRI Open the GRT Information Page »
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