No Deal In Works For SL Green To Buy New York REIT
SL Green Realty has refuted reports the company will be purchasing New York REIT.
A company spokesperson says SL Green is not in negotiations to acquire the REIT, but declined to comment on whether a deal was considered. Back in December, reports emerged that a deal was imminent between SL Green, the city’s largest commercial landlord, and the troubled REIT, The Real Deal reports.
Across the city, New York REIT’s portfolio includes 23 properties and roughly 3.4M SF, 97% of which is in Manhattan. Worldwide Plaza and 1440 Broadway are two of the most valuable assets in the portfolio, both of which were acquired back in 2013.
Nicholas Schorsch resigned as executive chairman of the REIT over a year ago after news broke of an accounting scandal at American Realty Capital Partners, where he had also served as executive chairman. Eastdil Secured was tapped to market New York REIT for sale this past October. [TRD]
