IRT PROPERTY CO. (IRT) said Monday (Dec. 24) that it plans to redeem its 7.3% convertible subordinated debentures due 2003. The Atlanta-based real estate investment trust (REIT) said that the debentures would be redeemed at par plus accrued interest on Jan. 24. Up until that time, holders of the debentures, or any portion which is $1,000 or any integral thereof, may convert them into shares of IRT common stock at a rate of $11.25 per share. Notice of the pending redemption has been given to SunTrust, the trustee for the debentures.

IVANHOE CAMBRIDGE said Dec. 19 that it plans to redeem four series of convertible subordinated debentures on Jan. 21. The Montreal-based real estate company said it would redeem its 8% convertible subordinated debentures due 2003; its two series of 6% convertible subordinated debentures due on Mar. 1 and Mar. 11, 2004, and its 7.5% convertible subordinated debentures, also due 2004. The debt was originally issued by CAMBRIDGE SHOPPING CENTRES LIMITED. Each series is redeemable at the option of the company at par plus accrued interest. Notices containing the particulars of the redemptions are being sent to the debentureholders by the trustee, Montreal Trust Co. of Canada. Ivanhoe Cambridge also said that it plans to redeem its 6% convertible subordinated debentures due June 30, 2007 at the earliest permitted date, which is June 30, 2002.

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