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Tender offer for Quadra Realty to end on March 12
By Lisa Kerner
Charlotte, N.C., Feb. 13 - Hypo Real Estate Capital Corp. began its $10.65-per-share tender offer for the remaining 65.3% of Quadra Realty Trust, Inc.'s shares that it does not already own.
Under the Jan. 28 agreement between the companies, Quadra will declare a $0.3494-per-share dividend giving shareholders a total of $11.00 per share.
The offer and withdrawal rights are set to expire at midnight ET on March 12, unless extended, according to a schedule TO filing with the Securities and Exchange Commission.
Quadra Realty is a New York-based commercial mortgage real estate investment trust externally managed by Hypo.
New York-based Hypo is a wholly owned subsidiary of Hypo Real Estate Bank International AG, a Munich-based provider of banking services in the field of commercial real estate financing.
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