Empire State Realty Trust Completes Exchange of Preferred Units
NEW YORK -- August 22, 2014
Empire State Realty Trust, Inc. (NYSE:ESRT) (the "Company"), a leading real
estate investment trust with office and retail properties in Manhattan and the
greater New York metropolitan area, today announced the final results of the
offer (the “Exchange Offer”) to exchange operating partnership units (“OP
Units”) of Empire State Realty OP, L.P. (“ESRO”) on a one-for-one basis for
Private Perpetual Preferred Units of ESRO (the “Preferred Units”).
The Exchange Offer expired at midnight, New York City time, on August 21,
2014. ESRO has accepted for exchange all of the OP Units that were validly
tendered and not withdrawn before the expiration of the Exchange Offer. A
total of (i) 555,801 SeriesES OP Units, (ii) 313,514 Series60 OP Units,
(iii)168,486 Series250 OP Units, and (iv)569,795 SeriesPR OP Units were
validly tendered and not withdrawn. The settlement for the Exchange Offer is
expected to occur on August 26, 2014, at which time ESRO will issue 1,607,596
new Preferred Units, with a stated distribution entitlement of $0.60 per unit
The Exchange Offer was made only to current holders of OP Units and was not
made or offered to the public or holders of the Company’s common stock or any
other security. The Preferred Units should be considered illiquid and will not
be listed on any exchange.
This announcement is for informational purposes only. This announcement is not
an offer to exchange or a solicitation of an offer to exchange any security.
The Company has retained MacKenzie Partners, Inc. to serve as information
agent in connection with the Exchange Offer. Questions may be directed to
MacKenzie Partners, Inc. at (888) 410-7850.
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE:ESRT), a leading real estate investment
trust (REIT), owns, manages, operates, acquires and repositions office and
retail properties in Manhattan and the greater New York metropolitan area,
including the Empire State Building, the world’s most famous office building.
Headquartered in New York, New York, the Company’s office and retail portfolio
covers 10.0 million rentable square feet, as of July 15, 2014, consisting of
9.3 million rentable square feet in 14 office properties, including nine in
Manhattan, three in Fairfield County, Connecticut and two in Westchester
County, New York; and approximately 732,000 rentable square feet in the retail
portfolio. The Company also owns land at the Stamford, Connecticut
Transportation Center that supports the development of an approximately
380,000 rentable square foot office building and garage.
This press release includes "forward looking statements". Forward-looking
statements may be identified by the use of words such as "believes,"
"expects," "may," "will," "should," "seeks," "approximately," "intends,"
"plans," "pro forma," "estimates," "contemplates," "aims," "continues,"
"would" or "anticipates" or the negative of these words and phrases or similar
words or phrases. The following factors, among others, could cause actual
results and future events to differ materially from those set forth or
contemplated in the forward-looking statements: the factors included in the
Company's Annual Report on Form 10-K for the year ended December 31, 2013,
including those set forth under the headings "Risk Factors," "Management's
Discussion and Analysis of Financial Condition and Results of Operations," and
"Business,” and “Properties." While forward-looking statements reflect the
Company's good faith beliefs, they are not guarantees of future performance.
The Company disclaims any obligation to publicly update or revise any
forward-looking statement to reflect changes in underlying assumptions or
factors, or new information, data or methods, future events or other changes
after the date of this press release, except as required by applicable law.
For a further discussion of these and other factors that could impact the
Company's future results, performance or transactions, see the section
entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the
year ended December 31, 2013, and other risks described in documents
subsequently filed by the Company from time to time with the Securities and
Exchange Commission. Prospective investors should not place undue reliance on
any forward-looking statements, which are based only on information currently
available to the Company (or to third parties making the forward-looking
MacKenzie Partners, Inc.
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