Strategic Hotels investor Security Capital reduces interest to 6.4%

By Lisa Kerner

Charlotte, N.C., June 24 - A group of Strategic Hotels & Resorts, Inc. investors led by Security Capital Research & Management Inc. sold 981,800 shares of the company's stock on June 22 and June 23 priced at an average of $0.9990 to $1.0246 per share.

The transactions were reported in a schedule 13D/A filed on Wednesday with the Securities and Exchange Commission.

Between May 29 and June 16, Security Capital sold 1,667,678 shares, a prior SEC filing said.

Security Capital and its affiliates beneficially own 4,775,400 shares, or 6.4%, of the Chicago-based real estate investment trust.

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