Empire State Building Owners Plan $1B IPO, New REIT

Law360, New York (February 13, 2012, 1:46 PM EST) -- The owners of a sprawling office portfolio that includes the iconic 102-story Empire State Building in Manhattan have filed a $1 billion initial public offering in an effort to consolidate their holdings and create a new real estate investment trust, according to regulatory documents filed Monday.

Malkin Holdings LLC has elected to allow the public to invest in 12 office buildings in New York and Connecticut through shares offered by a new publicly listed REIT to be known as Empire State Realty Trust Inc., according to...
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