Friday, October 11, 2013

The Empire State Building is now part of a publicly traded REIT

It's official.  The Empire State Realty Trust debuted on the New York Stock Exchange last week, trading at $13 per share.  The REIT includes a portfolio of 12 properties located throughout the region with 7.7 million square feet of office space.  Litigation delayed the initial public offering (IPO) for more than to resolve objections to bundling the iconic building with rest of the real estate portfolio.  

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