Columbia Property Trust buying two New York REIT buildings for $500M

Columbia Property Trust is in contract to buy two Chelsea office buildings for a little more than $500 million from New York REIT as it liquidates its portfolio. Atlanta-based Columbia Property is in contract to buy 245 West 17th Street and 218-220 West 18th Street, Debtwire reported. New York REIT purchased the 12-story building on […]

Ashner, Witkoff propose new board members for New York REIT

Michael Ashner and Steve Witkoff want to replace several of New York REIT’s board members — the latest attempt by the dissident investors to scuttle the real estate investment trust’s merger with JBG Cos. Ashner, chairman and CEO of Boston-based Winthrop Realty Trust, and Witkoff proposed a new five-person slate of candidates Monday, Bloomberg reported. The […]

JBG keeping nearly $2B in assets out of NY REIT merger

From left: Matt Kelly and Michael Happel New York REIT’s proposed merger with Washington, D.C.-area landlord JBG Companies comes with a slight catch. JBG is withholding around $1.8 billion in assets from the combined company. Regulatory filings detailing the deal – which will see JBG and New York REIT merge to form a new publicly […]

New York REIT stock drops 8% in wake of JBG merger

One Worldwide Plaza (inset: W. Matt Kelly and Michael Happel) New York REIT shareholders aren’t nearly as chuffed about the company’s proposed merger with JBG Companies as the executives involved. The company’s stock dropped more than 8 percent to close at $9 per share Thursday, one day after the company announced that it had agreed […]

New York REIT, JBG announce merger

1440 Broadway in Midtown (inset, from left: Michael Happel and Matt Kelly) UPDATED, 6:30 p.m., May 25: New York REIT is merging with the Maryland-based JBG Companies, in a deal that will form a new real estate investment trust with roughly $8.4 billion in assets, both sides announced Wednesday. The transaction will see private real estate […]