NEW YORK, Dec. 23, 2019 /PRNewswire/ -- iStar Inc. (NYSE:
STAR) announced today that it has completed its previously
announced redemption of all of the issued and outstanding shares of
its 4.5% Series J Cumulative Redeemable Preferred Stock (the
"Series J Shares") that did not convert into iStar common stock
prior to the December 23, 2019
redemption date.
Prior to the redemption date, holders of 99.99% Series J Shares
elected to convert their Series J Shares into an aggregate of
16,498,956 shares of iStar common stock at the conversion price of
4.1250 shares of common stock per Series J Share.
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iStar Inc. (NYSE: STAR) is focused on reinventing the ground
lease sector, unlocking value for real estate owners throughout the
country by providing modern, more efficient ground leases on all
types of properties. As the founder, investment manager and largest
shareholder of Safehold Inc. (NYSE: SAFE), the first publicly
traded company to focus on modern ground leases, iStar is helping
create a logical new approach to the way real estate is owned, and
continues to use its historic strengths in finance and net lease to
expand this unique platform. Recognized as a consistent innovator
in the real estate markets, iStar specializes in identifying and
scaling newly discovered opportunities and has completed more than
$40 billion of transactions over the
past two decades. Additional information on iStar is available on
its website at www.istar.com.
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SOURCE iStar Inc.