New York REIT to be liquidated

New York REIT Inc. is planning to liquidate following a failed merger.

The real estate investment trust is seeking to sell its assets and return the proceeds of $8.73 to $11.50 per share to shareholders.

New York REIT’s buildings are mostly in Manhattan and include a stake of almost 49 percent in Worldwide Plaza, a 1.8 million-square-foot skyscraper that serves as the American headquarters of Nomura Holdings Inc.

Earlier this month, New York REIT announced merger talks with Washington landlord JBG Cos. were scrapped.

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