Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sun, December 5, 6:42 AM
|This Slide: #365 of 573|
Slide #365. Inland Real Estate Corporation — Preferred Stock Offering
Inland Real Estate Corporation (IRC)
6.95% Series B Cumulative Redeemable Preferred Stock (IRC.PRB)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Inland Real Estate Corporation (NYSE:IRC) (the "Company") today announced that it has priced an underwritten public offering of 4,000,000 shares of its 6.95% Series B Cumulative Redeemable Preferred Stock ("Series B Preferred Stock") at a public offering price of $25.00 per share, for net proceeds of approximately $96.85 million, after deducting the underwriting discount but before expenses. The offering, which is subject to customary closing conditions, is expected to close on October 16, 2014.
Inland Real Estate is a real estate investment trust that owns, operates and develops (directly or through its unconsolidated entities) open-air neighborhood, community and power shopping centers and single tenant retail properties located throughout the Central and Southeastern U.S. Through wholly-owned subsidiaries, Co. manages all properties it owns interests in and properties for certain third parties and related parties. At Dec 31 2014, Co. owned interests in 159 investment properties, including those owned through its unconsolidated joint ventures, comprised of: 48 neighborhood retail centers; 32 community centers; 40 power centers; one lifestyle center; and 38 single-user properties.
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