Centerspace | 6.625% Series C Cumulative Redeemable Preferred Shares (CSR.PRC)
Prospectus excerpt: We are offering 4,000,000 of our 6.625% Series C Cumulative Redeemable Preferred Shares, no par value per share, which we refer to in this prospectus supplement as the Series C Preferred Shares. This is our original issuance of Series C Preferred Shares. Dividends on the Series C Preferred Shares will accrue and be cumulative from, but excluding, the original date of issuance and will be payable quarterly in arrears on or about the last day of March, June, September and December of each year. The dividend rate is 6.625% per annum of the $25.00 liquidation preference, which is equivalent to $1.65625 per share. The first dividend on the Series C Preferred Shares sold in this offering will be paid on January 2, 2018 and will be in the amount of $0.41866 per share.
Centerspace is a real estate investment trust focused on the ownership, management, acquisition, development, and redevelopment of apartment communities. Co. conducts a majority of its business activities through its consolidated operating partnership, Centerspace, LP, as well as through a number of other subsidiary entities.