NEW YORK CITY-In a letter to investors filed with the Securities and Exchange Commission, Malkin Holdings LLC says that 90% of unitholders of the Empire State Building that have voted thus far to approve including the tower in a public REIT.
The details of the letter sent by Malkin Investors to investors last Friday was detailed in a Bloomberg News report. Support for the pending IPO is even higher from unitholders of two other Manhattan buildings slated to be part of the REIT. Malkin Holdings LLC stated in the letter to investors that holders of 1 Grand Central Place shares have voted 95% in favor, while 97% of investors in 250 West 57th St. have approved the plan. About two-thirds of unitholders have voted, the Malkins stated.
“This remarkable level of participation in such a short period has exceeded our hopes,” Malkin Holdings Chairman Peter Malkin and President Anthony Malkin stated in the letter. “We encourage the very small percentage of participants who have voted against any proposal to consider now changing their votes to be for all the proposals.” See story in Crain's New York Business.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.