American Realty Seals $148.5M Deal For NYC's Viceroy Hotel

Law360, New York (November 25, 2013, 1:10 PM EST) -- Nabbing its first hotel asset, American Realty Capital New York Recovery REIT Inc. has closed on a $148.5 million deal that hands over the leasehold interest for the newly developed Viceroy Hotel in midtown Manhattan, the company announced Friday.

Under the deal with seller AREP Fifty-Seventh LLC, NYRR funded the purchase with proceeds from an ongoing initial public offering. The real estate investment trust, however, said it may seek financing post-closing from a lender, according to a filing with the U.S. Securities and Exchange Commission....
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