Pennsylvania REIT to redeem all 8.25% series A preferreds on Oct. 12

By Angela McDaniels

Tacoma, Wash., Sept. 11 – Pennsylvania Real Estate Investment Trust plans to redeem all of its outstanding 8.25% series A cumulative redeemable perpetual preferred shares on Oct. 12, according to a company news release.

The redemption price is $25 per preferred plus accrued dividends from Sept. 15 to but excluding the redemption date.

The Philadelphia-based REIT expects its annual preferred share dividend savings to be about $1.58 million following the redemption.

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