Deal Details
Preferred Equity Offering
Summary
Baird served as a book-running manager on this offering
About
Saul Centers, Inc. (“Saul Centers” or the “Company”) (NYSE: BFS) recently completed an offering of 5,600,000 shares of its 6.875% Series C Cumulative Redeemable Preferred Stock at a price of $25.00 per share, generating gross proceeds of $140.0 million. The Company intends to use the net proceeds from the offering to redeem the Company’s existing Series B preferred stock with any remaining proceeds used to redeem its existing Series A preferred stock.Saul Centers is a self-managed, self-administered equity real estate investment trust. Saul Centers currently operates and manages a real estate portfolio of 50 community and neighborhood shopping center properties and seven mixed-use properties totaling approximately 9.5 million square feet of leasable area. Saul Centers is headquartered in Bethesda, Maryland.
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- Date
- January 2013
- Company
- Saul Centers, Inc.
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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