New York REIT, Inc. (NYSE:NYRT) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01.
On October 11, 2017, New York REIT, Inc. (the “Company”) sold its properties located at 245-249 West 17th Street and 218 West 18th Street in New York, New York for $514.1 million to Columbia Property Trust, Inc., an unaffiliated third party. The properties were part of the collateral for the Company’s cross collateralized and secured loan in the original principal amount of $760 million. In connection with the sale, the Company paid approximately $348 million on account of the loan as required by the loan documents resulting in a remaining outstanding principal balance on the loan of $333.9 million. After satisfaction of debt, pro-rations and closing costs the Company received net proceeds of approximately $146.2 million.
On October 11, 2017, the Company issued a press release with respect to the transaction described in Item 2.01. Such press release shall not be deemed “filed” for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in Item 8.01, including Exhibit 99.1, shall not be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing.
|Item 9.01.||Financial Statements and Exhibits.|
|99.1||Press release dated October 11, 2017|
New York REIT, Inc. ExhibitEX-99.1 2 tv476837_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE October 11,…To view the full exhibit click
About New York REIT, Inc. (NYSE:NYRT)
New York REIT, Inc. is a real estate investment trust. The Company focuses on acquiring and owning office and retail properties in Manhattan. The Company’s business is primarily conducted through New York Recovery Operating Partnership, L.P. The Company owns approximately 20 properties in New York City, which aggregate approximately 3.4 million rentable square feet. The Company holds interests in properties of various types, such as office, retail, hotel, parking and storage. The Company’s properties include Design Center, 416 Washington Street, 50 Varick Street, 1440 Broadway, One Worldwide Plaza, 256 West 38th Street, 229 West 36th Street, 333 West 34th Street, 367-387 Bleecker Street, 33 West 56th Street (garage), 350 West 42nd Street, Foot Locker, Duane Reade and 1100 Kings Highway.