Empire State Realty Trust Announces Closing of Initial Public Offering and Full Exercise of Over-All

Empire State Realty Trust Announces Closing of Initial Public Offering and Full Exercise of Over-Allotment Option by Underwriters

NEW YORK--(BUSINESS WIRE)-- Empire State Realty Trust, Inc. (the "Company"), a Maryland corporation organized to qualify as a real estate investment trust, that owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, today announced the closing of its initial public offering of 82,225,000 shares of its Class A common stock at a public offering price of $13.00 per share, which includes the exercise in full of the underwriters' option to purchase up to 10,725,000 shares of Class A common stock. All of the common stock was offered by the Company. The Class A common stock is listed on the New York Stock Exchange under the trading symbol "ESRT."

The net proceeds of the offering are approximately $884.1 million, after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering primarily to fund certain formation transaction costs and fees, and make cash payments to holders of interests in the existing entities, including the Helmsley estate.


Goldman, Sachs & Co. and BofA Merrill Lynch acted as joint book-running managers for the offering. The offering of these securities is being made only by means of a prospectus. Copies of the final prospectus can be obtained from:

Prospectus Department
Goldman, Sachs & Co.
200 West Street

New York, NY 10282
Email: prospectus-ny@ny.email.gs.com

 

   

BofA Merrill Lynch

Attention: Prospectus Department

222 Broadway


New York, NY 10038

Email: dg.prospectus_requests@baml.com

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 1, 2013.

This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Empire State Realty Trust

Empire State Realty Trust, Inc. was formed to continue and expand the commercial real estate business of Malkin Holdings LLC and its affiliates. The Company is a self-administered and self-managed real estate investment trust, or REIT, that owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area. After completion of the offering and related formation transactions, the Company owns approximately 8.4 million rentable square feet. Seven office properties are in midtown Manhattan, including the Empire State Building, the world's most famous office building. The other office properties are located in Fairfield County, Connecticut and Westchester County, New York. The Company's portfolio also includes six retail properties representing approximately 205,000 rentable square feet located in Manhattan and in the city center of Westport, Connecticut. The Company also has an option to acquire from affiliates of its predecessor two additional Manhattan office properties encompassing approximately 1.5 million rentable square feet of office space and over 150,000 rentable square feet of retail space at the base of the buildings and also owns entitled land at the Stamford, Connecticut Transportation Center that supports the development of an approximately 380,000 rentable square foot office building and garage.



Empire State Realty Trust Investor Relations
212-850-2678
IR@empirestaterealtytrust.com

KEYWORDS:   United States  North America  New York

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