Green Courte Partners, a Chicago-based private equity real estate investment firm, has completed its offer to purchase any and all shares of 7.75 per cent series A cumulative redeemable preferred stock of American Land Lease not owned by it.
Green Courte has accepted all of the shares tendered and not withdrawn at a price of USD10.00 per share in cash without interest and less any amounts required to be deducted and withheld under any applicable law.
The tender offer expired at 5pm New York City time on 23 October 2009.
The depositary for the tender offer has advised Green Courte Partners that, as of the expiration of the offer, a total of 19,912 shares were validly tendered and not withdrawn. All conditions of the offer have been satisfied or waived. All tendered shares have been accepted for payment in accordance with the terms of the tender offer.
Stockholders who validly tendered prior to the expiration of the tender offer and whose shares were not properly withdrawn will promptly receive the tender offer consideration.
Green Courte Partners or its affiliates may conduct a future tender offer for the shares at a higher or lower price, or may otherwise acquire shares at higher or lower prices, although neither Green Courte Partners nor any of its affiliates has any obligation or current intent to do so.
American Land Lease is a Clearwater, Florida-based real estate investment trust that owns, develops and manages residential land-lease communities primarily serving active adults.
