Empire State Realty Trust Historical Chart
|Empire State Realty Trust||ESRT
[ NYSE ]
|Priced at $13.00
||$13.05||71.5 million||10/2/2013 |
Underwriter(s): BofA Merrill Lynch, Goldman Sachs
Co-Manager(s): Barclays, Citi, Deutsche Bank, Wells Fargo Securities, Capital One, HSBC Corp, KeyBanc Capital Markets, RBC, Stifel, Lebenthal, Loop Capital Markets, Ramirez & Co.
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About Empire State Realty Trust (adapted from Empire State Realty Trust prospectus):
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Empire State Realty Trust is a self-administered and self-managed real estate investment trust, or REIT, that owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area. Empire State Realty Trust was formed to continue and expand the commercial real estate business of their predecessor, Malkin Holdings LLC and its affiliates. Their primary focus will be to continue to own, manage and operate their current portfolio and to acquire and reposition office and retail properties in Manhattan and the greater New York metropolitan area.
As of September 30, 2011, Empire State Realty Trust owned 12 office properties encompassing approximately 7.7 million rentable square feet of office space, which were approximately 79.9% leased (or 83.0% giving effect to leases signed but not yet commenced as of that date). Seven of these properties are located in the midtown Manhattan market and encompass in the aggregate approximately 5.8 million rentable square feet of office space, including the Empire State Building.
From 2002 through September 30, 2011, according to their prospectus, they have invested a total of approximately $296.0 million (excluding tenant improvement costs and leasing commissions) in their Manhattan office properties pursuant to this program. Empire State Realty Trust say that they currently intend to invest between $175.0 million and $215.0 million of additional capital through the end of 2013, and that they expect to complete substantially this program by the end of 2013, except with respect to the Empire State Building, which is the last Manhattan office property that began its renovation program.
This description is adapted from Empire State prospectus. This description is not intended to be a recommendation to buy stock from this company. To see the company's full description, view their prospectus.
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