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December 14, 2010 |
Category: Business wire |
New York, NY, December 14, 2010 – American Realty Capital New York Recovery REIT, Inc. (the “Company”) announced today that it has raised proceeds sufficient to break escrow in connection with its initial public offering. The Company has now broken escrow and admitted initial investors as stockholders. New stockholders will continue to be admitted on a daily closing basis. The Company now accepts stockholders residing in 48 of the 50 states. Investors residing in Pennsylvania will be admitted after aggregate subscriptions reach $75 million. Investors residing in Tennessee will be admitted after aggregate subscriptions reach $20 million.
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December 14, 2010 |
Category: Business wire |
New York, NY, December 14, 2010 –American Realty Capital New York Recovery REIT, Inc. (the “Company”) announced today that it has acquired a portfolio of five retail properties in Manhattan, New York, at a purchase price of approximately $35,000,000. The portfolio was purchased at an average capitalization rate of 7.22% ($3,638 per rentable square foot) and financed with five-year fixed rate 4.29% debt. The acquisition closed on December 1, 2010.
[More]Realty Capital Securities, LLC (Member FINRA/SIPC), is the dealer-manager for all stated proprietary offerings, an affiliate. Realty Capital Securities, LLC, Three Copley Place, Suite 3300, Boston, MA 02116, T 877-373-2522
Investors should consider a fund's investment objectives, risks, charges and expenses before investing. This sales and advertising material is neither an offer to sell nor a solicitation of an offer to buy any securities. Such an offer can only be made by the Prospectus. This material must be read in conjunction with the current Prospectus for the respective offering in order to fully understand all of the implications and risks of the offering of securities to which it relates. A copy of the Prospectus must be made available to you in connection with this offering. You must meet suitability standards in order to buy any securities described herein. Refer to the details in the applicable Prospectus. The achievement of any or all goals of any offering that may be described herein is not guaranteed. Risks for these investment program offerings typically include: no public market currently exists, and one may never exist; there is no assurance that the value of the holdings will be sufficient to return any portion of the investors original capital invested in any offering of such securities; substantial fees and expenses are typically paid to an offerings advisor, its affiliates and participating broker dealers; assets acquired with leverage have risks including loss of value and limits on flexibility needed if there are changes in the business or industry. An investment in any of these investment programs should be made only after careful review of the related prospectus. All information contained in this material is qualified by the terms of applicable Prospectus.
Other than as specifically indicated on the respective page, properties depicted in the photographs are of assets held in either American Realty Capital's current offerings or past real estate investment programs sponsored by American Realty Capital.
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