Completion of Asset Sales
The sale of 1225 Seventeenth Street Plaza in Denver was completed for a gross price of $132.5 million. This marks the successful execution of the sale of all company real estate assets, totaling over $7.9 billion in assets sold since 2014.
Shareholder Approval and Distributions
At the November 12 Special Shareholder Meeting, 99% of votes cast were in favor of the plan of sale. An initial liquidating distribution of $19 per share was paid in December, with an updated estimated aggregate shareholder liquidating distribution range of $20.55 to $20.70 per common share.
Debt and Equity Management
The company has retired $3.4 billion in debt and preferred shares, repurchased $652 million of common shares, and paid $3.8 billion in distributions to common shareholders.
Efficient Wind-Down Process
The company has effectively managed the wind-down process, including the sale of remaining properties and planning for the final distribution and delisting from the NYSE.