New York REIT plans $150M buyback, marketing of non-core assets

From left: Michael Happel and William Kahane

New York REIT is launching a $150 million buyback and has tapped Cushman & Wakefield and HFF to market several “non-core assets,” the real estate investment trust announced Monday.

In addition to repurchasing up to $150 million of its common stock, the New York City-centric REIT authorized the two commercial brokerages to market and sell select non-core assets. (more…)