Associated Estates Realty calls $48.3 million 8.7% class B preferreds

By Susanna Moon

Chicago, May 7 - Associated Estates Realty Corp. said it plans to redeem all $48.3 million of its 8.7% class B series 2 cumulative redeemable preferred stock on June 9.

The company said it will pay $250.00 per share plus accrued dividends after March 15 up to and including the redemption date. The redemption price is the equivalent of $25.00 per depositary share.

Associated Estates Realty is a Richmond Heights, Ohio-based real estate investment trust.

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