The extra dividend will be paid Jan. 17, 2001, to shareholdersof record as of Dec. 29. AIP says it's on track with afirst-quarter closing of its merger with Ohio-based DevelopersDiversified Realty Corp. Shareholders had been ticketed to get$13.74 per share when the deal closes, but the special cashdistribution is now being deducted.The advance payment is a directresult of taxable gain that had been realized from this quarter'sportfolio sale by the Irving-based REIT. The November sale of theManhattan Towers had significantly bolstered the REIT's gain fromthe property sales.
The current portfolio consists of 70 properties, totaling morethan 7.2 million sf, in 11 states. The properties primarilyrepresent the full gamut of building types in the light-industrialsector.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
