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NY REIT Taps Outside Advisor

NEW YORK CITY—The beleaguered company was seeking counsel on its plan to liquidate while maximizing value to shareholders.

Silverstein-Wendy- Led by NYRT CEO Wendy Silverstein, Winthrop will advise the REIT on its liquidation plan.

NEW YORK CITY—New York REIT’s board of directors has selected Winthrop REIT Advisors to become its new external advisor. In addition, NYRT has entered into an extension of its advisory agreement with its current advisor, New York Recovery Advisors, partly in order to facilitate a smooth transition to Winthrop.

To find a new external advisor, the board contacted 31 entities to submit proposals and ultimately concluded that the appointment of Winthrop represented the best option to oversee the proposed plan of liquidation, pending stockholder approval, and to maximize value for stockholders.

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Rayna Katz

Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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