G&L Realty Corp., Beverly Hills, Calif., has announced the redemption of its preferred stock and the filing of articles of dissolution with the state of Maryland.The real estate investment trust said its business will continue after the dissolution under a new limited liability company called G&L Realty Properties LLC, which is owned by its common stockholders, Daniel M. Gottlieb and Steven D. Lebowitz. The REIT reported the redemption of its 10.25% series A preferred stock at $25.16532 per share and its 9.8% series B preferred stock at $25.15806 per share. In connection with the redemption, the company delisted from the New York Stock Exchange.
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