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DRA CRT Acquisition Corp.
8.5% Series A Cumulative Redeemable Preferred Stock
- The merger of CRT Properties, Inc. (“CRT Properties”) with and into DRA CRT Acquisition
Corp. (the “Company”), an investment fund managed by DRA Advisors LLC (“DRA”), was
completed on September 25, 2005.
- Upon completion of the merger, CRT Properties’ 8.5% Series A Cumulative Redeemable
Preferred Stock was automatically converted on a 1:1 basis into shares of 8.5% Series
A Cumulative Redeemable Preferred Stock of the Company (the “Preferred Stock”).
- Although the Company has made all dividend payments on the regular quarterly schedule
through September 15, 2011, the Board of Directors suspended the quarterly dividend
effective December 15, 2011 in order to improve liquidity and preserve capital.
- Although the Company is not required to be, and is not, a reporting company under
the Securities Exchange Act of 1934 as amended, the Preferred Stock is quoted on
the Pink Sheets, a centralized quotation service that collects and publishes quotes
for certain securities. Quotation of the Preferred Stock on the Pink Sheets is not
due to any action by the Company or DRA.
- The Preferred Stock has no mandatory redemption features and is perpetual. The Preferred
Stock may be redeemed at the election of the Company, but the Company is under no
obligation to do so.
- Future developments regarding the Preferred Stock may be posted on this website.
Property Information:
- Immediately after the merger in 2005, the Company’s portfolio included 26 office
investments totaling 12 million square feet and 13 land parcels.
- Currently, the portfolio includes 10 office investments consisting of 4.5 million
square feet and 4 land parcels. The portfolio is approximately 81% leased as of
September 30, 2011.
- The properties are located in Atlanta, Fort Lauderdale, Jacksonville, Orlando, Memphis,
Dallas and Houston.
The information contained herein is given as of September 30, 2011. Although
this information may be updated from time to time, we have no obligation to do so.
This Web Site contains a link to the Internet site operated by the Pink
Sheets, a third party. Access to that site is at the user’s own risk and neither
DRA nor the Company is responsible in any manner for the accuracy or reliability
of any information, data, opinions, advice or statements made on that site. DRA
provide this link merely as a convenience and the inclusion of such link does not
imply an endorsement or adoption of such information into this Web Site.
CRT Preferred Equity Shareholder Information
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11/16/2011 Press Release - DRA
CRT Acquisition Corp. (formerly CRT Properties Inc.) Suspends Quarterly Dividend for Preferred Shareholders