BRE Properties Announces Filing of Shelf Registration Statement.SAN FRANCISCO--(BUSINESS WIRE)--March 9, 1998--BRE Properties Inc. (NYSE NYSE See: New York Stock Exchange :BRE (Business Rules Engine) Software that automates policies and procedures within an organization, whether legal, internal or operational. The use of a rules engine (BRE) requires placing the company rules in an external repository that can be easily reviewed rather than ) announced that it has filed a universal shelf registration statement on Form S-3 with the Securities and Exchange Commission. The registration statement covers an aggregate of up to $750 million of the company's debt securities, preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. , depositary shares, common stock warrants and common stock, any of which may be offered by the company from time to time at prices and on terms to be determined at the time of any such offering. BRE intends to use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from any such offerings for general corporate purposes, which may include, among other uses, the acquisition and development of multifamily properties and the repayment of indebtedness. A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. BRE Properties Inc. is a self-administered, self-managed and fully integrated real estate investment trust focusing on the acquisition, development, ownership and management of multifamily properties 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 . BRE owns and operates 75 apartment communities totaling 18,955 units in California, Arizona, Washington, Oregon, Nevada, New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). , Utah and Colorado. The company currently has eight other apartment communities under development totaling 2,445 units. Additional information about BRE can be found on the company's web site (http://breproperties.com). CONTACT: BRE Properties Inc. Lauren L. Barr, 415/445-6523 |
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