Clearwater, Florida (PRWEB) November 28, 2014
American Land Lease, Inc. (the “Company”), announced today that it will redeem for cash all of its outstanding 7.75% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Shares”) on December 26, 2014 (the “Redemption Date”).
The redemption price for the Series A Preferred Shares is equal to $25 per share, plus all accrued and unpaid dividends thereon to the Redemption Date, without interest, which equates to $25.14 per share.
On and after the Redemption Date, the Series A Preferred Shares will no longer be deemed outstanding, dividends on the Series A Preferred Shares will cease to accumulate, and all rights of the holders of the Series A Preferred Shares will cease, except the right to receive the redemption price, without interest thereon.
About American Land Lease, Inc.
American Land Lease, Inc. is a Clearwater, Florida-based real estate investment trust that owns and manages high quality residential land-lease communities. For additional information, please visit http://www.AmericanLandLease.com.
American Land Lease, Inc.
Benjamin S. Allen, General Counsel
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect management’s current views with respect to future events and financial performance. The words “believes”, “expects”, “anticipates”, “estimates” and similar words or expressions are generally intended to identify forward-looking statements. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to, changes in general economic conditions, adverse changes in real estate markets as well as other risks and uncertainties.