August 27, 2018
ARC New York City REIT Temporarily Reactivates Share Repurchase Program
American Realty Capital New York City REIT Inc.'s board reactivated the company's share repurchase program only for the period...

ARC New York City REIT Temporarily Reactivates Share Repurchase Program

August 27, 2018 | James Sprow | Blue Vault

American Realty Capital New York City REIT Inc.’s board reactivated the company’s share repurchase program only for the period from August 25 through September 24, 2018.

In addition, the board approved an amendment and a subsequent suspension of the program after the reactivation period that will remain in effect until the company resumes the payment of its regular cash distributions. The REIT suspended its common stock distributions, effective March 1, and expects to evaluate its distribution policy no sooner than February 2019.

According to the REIT’s 8-K filed on August 24:

“The repurchase price per Share, shall (as adjusted for any stock dividend, stock split, combination, reorganization, recapitalization, reclassification or other similar event involving a change in the capital structure of the Common Stock) equal 100% of the published estimated per-share net asset value in effect on the last day of the Fiscal Semi-Annual Period or the 2018 Period, as applicable, in which such repurchase request was received.”

According to the Company’s Q2 2018, the most recent estimated NAV per share was approved on October 25, 2017, as of June 30, 2017, at a value of $20.26.

According to Blue Vault’s Q2 2018 report, the REIT owned six properties as of June 30, 2018, with a total of 1,085,084 square feet that were 89.8% occupied. The REIT raised $750.5 million in its public offering that closed May 31, 2015. 

Sources:  SEC, Blue Vault

 

Learn more about AR Global on the Blue Vault Sponsor Focus page

 

AFIN’s Board Recommends Rejection of MacKenzie July 26 Tender Offer

Digging Deeper into American Finance Trust Valuation

American Realty Capital New York City REIT Closes $12.95 Self-Tender

Recent

Shorehaven Mixed-Use Development Tops Out in Tempe

Shorehaven Mixed-Use Development Tops Out in Tempe

Cantor Fitzgerald and Silverstein Properties mark a milestone with Shorehaven, a new luxury mixed-use project on Tempe Town Lake, featuring residential units, retail, and community amenities for a premier waterfront experience.

Most Popular

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 10-3-2023 Blue Vault wishes to acknowledge and apologize for the delay in publishing some Q2 2023 NTR Individual Performance Pages (IPPs) as well as the full review. We recently added additional reporting metrics to our IPPs, and that, combined with coverage of all share classes and some additional…
Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 9-25-2023 Blue Vault has published the Q2 2023 Nontraded BDC Industry Review as well as Individual Performance Report and Limited Operations pages for the following offerings (newly published pages in bold font): Nontraded REITS American Healthcare REIT Q2 2023 Apollo Realty Income Solutions Q2 2023 (limited operations) Ares…

Explore

Blue Vault Logo
Don’t miss alts news
and educational events

Subscribe Now