Strategic Hotels calls 8.5% series A cumulative redeemable preferreds

By Tali Rackner

Norfolk, Va., March 3 - Strategic Hotels & Resorts, Inc. plans to redeem all 4,148,141 shares of its 8.5% series A cumulative redeemable preferred stock on April 3, according to a press release.

The shares will be redeemed at $25 per share plus accrued dividends up to and including the call date in the amount of $0.54896 per share, for a total redemption cost of $105,980,688.48.

Strategic Hotels & Resorts is a real estate investment trust based in Chicago that owns and manages high-end hotels and resorts.

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