New York REIT to fully repay credit facility via new financing

By Tali Rackner

Norfolk, Va., Dec. 21 – New York REIT, Inc. plans to fully repay its existing credit facility using the proceeds from a new $760 million financing, according to a press release.

Proceeds will also be used to provide liquidity for the exercise of the company’s option to acquire all or almost all of the remaining equity interest in Worldwide Plaza that it currently does not own and to provide increased flexibility to allow it to proceed with its proposed plan of liquidation and dissolution.

The issuer is a New York City-based real estate investment trust.

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