Alexander Haagen Announces Sale of $19.6 Million of Common Stock to Affiliate of Lazard Freres.MANHATTAN BEACH Manhattan Beach, city (1990 pop. 32,063), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1912. It is a residential and beach community with an oil refinery and nearby factories that produce transportation and electrical equipment, computers, and pottery. , Calif.--(BUSINESS WIRE)--July 11, 1997--Alexander Haagen Properties Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :ACH) Friday announced the purchase by an affiliate of Lazard Freres Real Estate Investors A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (LFREI) of 1,306,434 newly issued common shares at a price of $15 per share for a total investment of $19.6 million. The LFREI affiliate now owns approximately 9.8 percent of the current outstanding common stock. This purchase represents the first phase of the $235 million strategic equity investment announced June 2 by LFREI, a leading global investment bank. The company also set July 11, 1997, as the record date for the shareholder vote to approve the strategic equity investment by LFREI. The special meeting of shareholders is scheduled to be held at 11 a.m. on Aug. 14, 1997, at the Radisson Hotel, Palm Room, 1400 Parkview Ave., Manhattan Beach, Calif. Alexander Haagen Properties, a fully integrated, self-managed real estate investment trust, is a leading developer, owner and manager of retail shopping centers in the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . The company owns or controls 38 properties, including two regional malls, eight promotional/power centers, 14 neighborhood/community shopping centers and 14 single-tenant facilities. CONTACT: Alexander Haagen Properties Inc., Manhattan Beach Stuart Gulland, 310/546-4520 |
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