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Great Lakes' 2000 Dividends Add Up to 11% of REIT's Stock Price

CHICAGO-The Oak Brook-based REIT, which owns and manages suburban office product totaling more than 5 million sf, announces total dividends of $1.91 per share, including $0.49 in capital gains.

By Mark Ruda | Updated on January 08, 2001

CHICAGO-Great Lakes REIT, which owns and operates office properties in Milwaukee, Detroit and Minneapolis as well as here, has announced total dividends of $1.91 per share, or more than 11% of its most recent stock price. Of that dividend, $0.49 of a capital gain.

The Oak Brook-based REIT owns and manages 35 suburban properties totaling 5.2 million sf, ranging in size from 36,000 sf to 370,000 sf. Other markets where Great Lakes has a presence include Cincinnati, Columbus and Denver. The capital gain was a result of Great Lakes’ selling a 184,000-sf office building in Englewood, CO, for $28.25 million, said James Hicks, the REIT’s chief financial officer.

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