CapLease to redeem another $20.38 million of series A preferred stock

By Tali David

Minneapolis, March 4 - CapLease, Inc. plans to redeem another $20,375,000, or 815,000 shares, of its 8.125% series A cumulative redeemable preferred stock, representing 30.79% of the total outstanding shares, according to a press release.

The preferreds will be redeemed at $25 per share plus accumulated dividends on April 3.

CapLease is a New York-based real estate investment trust that primarily owns and manages single-tenant commercial real estate properties.

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