National Retail Props (NNN) to Redeem ~$92M of Series C Preferred

National Retail Properties, Inc. (NYSE: NNN) announced that it intends to redeem all outstanding depositary shares (3,680,000) representing interests in its 7.375% Series C Cumulative Redeemable Preferred Stock (NYSE: NNNPRC). The Series C Preferred Shares will be redeemed on March 15, 2012 at $25.00 per depositary share, plus all accumulated and unpaid distributions through the redemption date, for an aggregate redemption price of $25.1075521 per depositary share. After the redemption date, dividends on the Series C Preferred Shares will cease to accrue.

The redemptions will be made in accordance with The Depositary Trust Company's procedures. The Series C Preferred Shares shall be surrendered for payment of the redemption price to American Stock Transfer and Trust Company, the redemption and paying agent.

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