Attached files
| file | filename |
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| EX-99.1 - New York REIT Liquidating LLC | v205120_ex99-1.htm |
| 8-K - New York REIT Liquidating LLC | v205120_8k.htm |
Exhibit
99.2
AMERICAN
REALTY CAPITAL NEW YORK RECOVERY REIT, INC. BREAKS ESCROW
— REIT to
admit new stockholders on a daily basis —
New York,
NY – American Realty Capital New York Recovery REIT, Inc. (the “Company”)
announced today that it has raised proceeds sufficient to break escrow in
connection with its initial public offering. The Company has now
broken escrow and admitted initial investors as stockholders. New
stockholders will continue to be admitted on a daily closing
basis. The Company now accepts stockholders residing in 48 of the 50
states. Investors residing in Pennsylvania will be admitted after
aggregate subscriptions reach $75 million. Investors residing in
Tennessee will be admitted after aggregate subscriptions reach $20
million.
American
Realty Capital New York Recovery REIT, Inc., a public non-traded REIT, has
commenced its initial public offering of up to 150,000,000 shares of common
stock at a purchase price of $10 per share, for an aggregate offering amount of
up to $1,500,000,000. The Company is offering the shares of common
stock on a “best efforts” basis through its affiliate, Realty Capital
Securities, LLC, the dealer manager for this offering. The Company intends to
use the proceeds from the offering to acquire commercial real estate primarily
in New York City. The Company currently owns the Interior Design
Building located at 306 East 61st Street in Manhattan, New York and a portfolio
of five retail condominiums located on Bleecker Street in Manhattan, New
York.
A
registration statement relating to the offering of these securities has been
filed with the U.S. Securities and Exchange Commission and declared
effective. The offering will be made only by means of a
prospectus. Copies of the prospectus for the offering may be obtained
by contacting: Realty Capital Securities, LLC, Three Copley Place,
Suite 3300, Boston, MA 02116, Tel: 1-877-373-3522.
This
press release 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
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such
state.
This
press release may contain forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Actual results and trends
could differ materially from those set forth in such statements due to the
following risks: The failure to qualify or maintain the requirements to be taxed
as a REIT would reduce the amount of income available for distribution and limit
the Company’s ability to make distributions to its stockholders. No
public market initially exists for the Company’s shares of common stock, and one
may never exist for this or any other such type of real estate
program. Securities are being offered on a best efforts basis. These
are speculative securities and as such involve a high degree of risk. There are
substantial conflicts among an offering and its sponsor, advisor, dealer manager
and property manager. There is no assurance that the value of the real estate
will be sufficient to return any portion of investors' original capital.
Operating results will be affected by economic and regulatory changes that have
an adverse impact on the real estate market and we cannot assure you that there
will be growth in the value of the properties.
To arrange interviews with executives
of American Realty Capital New York Recovery REIT, Inc., please contact Tony
DeFazio at 484-532-7783 or tony@defaziocommunications.com