NY REIT Sale Followed Strategic Review

1440 Broadway, one of New York REIT’s

NEW YORK CITY—As far as New York REIT is concerned, the pending reverse merger with the Chevy Chase, MD-based JBG Cos. represented the best option among those it considered when it began reviewing its options this past October. Randolph Read, chairman of the REIT that was originally part of the American Realty Capital group of companies, says that “the expertise of the JBG management team is recognized throughout the industry and that this combination will provide the NYRT stockholders with a unique opportunity to participate in the value creation potential that this combination will bring.’

However, some analysts took a different view, and Bloomberg Business reported Thursday that shares of NYRT slipped after questions were raised. At the close of trading on Thursday, shares were down 79 cents to $9.