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Hypo To Acquire Quadra Realty Trust

NEW YORK CITY-Hypo Real Estate Capital Corp. will acquire the 65.3% of Quadra's outstanding shares of common stock that it does not currently own at $10.70 per share.

By Natalie Dolce | Updated on January 29, 2008

NEW YORK CITY-Locally based Hypo Real Estate Capital Corp., a wholly owned US subsidiary of Hypo Real Estate Bank International AG, and Quadra Realty Trust Inc., which is externally managed by HRECC, have entered into an agreement and plan of merger pursuant to which HRECC will acquire the 65.3% of Quadra’s outstanding shares of common stock that it does not currently own. The price will be $10.70 per share in cash.

In addition, locally based Quadra will declare a $0.35 per share dividend–$9 million in the aggregate–payable to stockholders of Quadra who hold shares of Quadra common stock. Such dividend will not be paid if the tender offer is not closed.

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