Strategic Hotel Capital Inc., Chicago, has announced a public offering of 4.0 million shares of its 8.25% series B cumulative redeemable preferred stock.The shares have a liquidation preference of $25 per share. Wachovia Securities is the sole book-running manager of the offering, and Raymond James is the joint lead manager, the company said. The underwriters have been granted an option to buy up to 600,000 additional preferred shares to cover any overallotments.

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