Reckson Associates Realty Corp., Melville, N.Y., has announced that it plans to redeem all its 2 million outstanding shares of 8.85% series B convertible cumulative preferred stock on Jan. 5 at a redemption price of $25.50 per share.The stock will be redeemed for shares of class A common stock valued at $26.05 per share, for a redemption rate of 0.9789 of a share of class A common stock for each share of series B preferred stock. Reckson Associates, a real estate investment trust, can be found online at http://www.reckson.com.
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