WASHINGTON, Aug. 2 /PRNewswire-FirstCall/ -- CarrAmerica Realty
Corporation (NYSE: CRE) today announced that it has agreed to sell 2,649,000
shares of its common stock to Goldman, Sachs & Co. The net proceeds of the
offering before expenses will be approximately $99.6 million and will be used
to repay a portion of the borrowings under the Company's $500 million
revolving credit facility and in turn fund current and potential acquisitions
and other working capital and general corporate purposes. Goldman, Sachs & Co.
acted as sole book-running manager for the offering. CarrAmerica has granted
Goldman, Sachs & Co. a 30-day option to purchase up to an additional 397,350
shares of its common stock.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990820/CRELOGO )
This communication 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 or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or other jurisdiction. A copy of
the prospectus relating to these securities may be obtained when available
from Goldman, Sachs & Co., 85 Broad Street, New York, New York, attention:
Prospectus Department.
CarrAmerica owns, develops and operates office properties in 12 markets
throughout the United States. The Company has become one of America's leading
office workplace companies by meeting the rapidly changing needs of its
customers with superior service, a large portfolio of quality office
properties and extraordinary development capabilities. Currently, CarrAmerica
and its affiliates own, directly or through joint ventures, interests in a
portfolio of 290 operating office properties, totaling close to 27 million
square feet. CarrAmerica's markets include Austin, Chicago, Dallas, Denver,
Los Angeles, Orange County, Portland, Salt Lake City, San Diego, San Francisco
Bay Area, Seattle and metropolitan Washington, D.C.
SOURCE CarrAmerica Realty Corporation
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