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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