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Article: Security Capital Industrial Trust Announces Shareholder Approval to Become Internally Managed REIT
- Article from:
- PR Newswire
- Article date:
- September 8, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DENVER, Sept. 8 /PRNewswire/ -- Security Capital Industrial Trust (NYSE: SCN) (SCI) today announced that its shareholders voted to approve an agreement with Security Capital Group Incorporated (Security Capital) to exchange Security Capital's REIT management and property management companies for 3,692,024 shares of SCI common stock. A total of 92.48% of SCI's outstanding common shares were voted. Of those, 98.56% were voted in favor of the merger agreement, which is expected to close on September 9, 1997, subject to the conditions contained in the merger agreement.
As a result of the transaction, SCI will become an internally managed real estate investment ...