New York REIT Closes on Previously Announced Sale of 48.7% Interest in Worldwide Plaza to a Joint Venture Managed by SL Green and RXR Realty

New York REIT Closes on Previously Announced Sale of 48.7% Interest in Worldwide Plaza to a Joint Venture Managed by SL Green and RXR Realty

Transaction Values Worldwide Plaza at $1.725 Billion

Worldwide Plaza Closes on $1.2 Billion Debt Refinancing

SL Green and RXR Realty to Serve as Exclusive Property Manager and Leasing Agent

PR Newswire

NEW YORK, Oct. 18, 2017 /PRNewswire/ — New York REIT, Inc. (NYSE: NYRT) (the “Company” or “NYRT”), which is liquidating and winding down pursuant to a plan of liquidation, announced today that it has closed on the previously announced sale of a 48.7% interest in Worldwide Plaza to a joint venture managed by SL Green Realty Corp. and RXR Realty LLC based on the agreed upon value of the property of $1.725 billion. In conjunction with the equity sale, there was a concurrent $1.2 billion refinancing of the existing Worldwide Plaza debt. NYRT received cash at closing of approximately $355 million from the sale and excess proceeds from the refinancing, which is net of certain closing costs, including $109.0 million of defeasance and prepayment costs, and a $90.7 million capital reserve.  

The new debt on Worldwide Plaza bears interest at a blended rate of approximately 3.98% per annum, requires monthly payments of interest only and matures in November 2027.

Worldwide Plaza is a mixed use building located on Eighth Avenue between 49th and 50th Streets in Manhattan containing approximately 2.05 million rentable square feet including approximately 1.8 million rentable square feet of office space.

Additional Information

Further details surrounding the sale of the membership interest and the financing of Worldwide Plaza will be included in a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission (“SEC”).

About NYRT

NYRT is a publicly traded real estate investment trust listed on the NYSE that owns income-producing commercial real estate, including office and retail properties, located in New York City. NYRT’s shareholders recently adopted a plan of liquidation pursuant to which NYRT is liquidating and winding down and, in connection therewith, is seeking to sell its assets in an orderly fashion to maximize shareholder value. For more information, please visit our website at www.nyrt.com.

Forward-Looking Statements

The statements in this release that are not historical facts may be forward-looking statements. These forward-looking statements involve substantial risks and uncertainties. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements the Company makes. Forward-looking statements may include, but are not limited to, statements regarding stockholder liquidity and investment value and returns. The words “anticipates,” “believes,” “expects,” “estimates,” “projects,” “plans,” “intends,” “may,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that might cause such differences include, but are not limited to factors included in the Company’s reports filed with the SEC, particularly in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s latest Annual Report on Form 10-K for the year ended December 31, 2016, filed with the SEC on March 1, 2017 and the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2017 filed with the SEC on August 8, 2017, as such Risk Factors may be updated from time to time in subsequent reports. The Company does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.


Contacts


Media:                   


Investor Relations:

Jonathan Keehner                 

Wendy Silverstein, Chief Executive Officer               

Mahmoud Siddig                     

New York REIT, Inc.

Joele Frank, Wilkinson Brimmer Katcher    


wsilverstein@nyrt.com

jkeehner@joelefrank.com  

(617) 570-4750          


msiddig@joelefrank.com

(212) 355-4449                              

John Garilli, Chief Financial Officer

New York REIT, Inc.


jgarilli@nyrt.com

(617) 570-4750

 

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SOURCE New York REIT, Inc.

Early Warning News Release for Ron Joyce

Early Warning News Release for Ron Joyce

Canada NewsWire

EARLY WARNING NEW RELEASE
PURSUANT TO NATIONAL INSTRUMENT 62-103 AND 62-104

/NOT FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, Oct. 18, 2017 /CNW/ – Ronald Joyce announced today that on October 17, 2018, he acquired, through his holding company Jetport Inc, 50,000 trust units (“Units“) of Artis Real Estate Investment Trust (“Artis REIT“) (representing approximately 0.04% of the 150,593,232 Units issued and outstanding) at a price of $13.68 per Unit for a total purchase price of $685,500 through the facilities of the Toronto Stock Exchange.

As a result of the acquisition of 50,000 Units, Mr. Joyce’s direct and indirect beneficial ownership and control over Units (personally and together his holding companies, Jetport Inc. and Fox Harb’r Development Limited) increased by approximately 0.04% to an aggregate of 15,050,000 Units, representing approximately 10% of the 150,503,232 Units issued and outstanding.

Mr. Joyce also sits on the seven (7) member board of trustees of The Joyce Family Foundation (the “Foundation“) comprised of three members of the Joyce family and four independent board members.  The Foundation owns 750,000 Units for investment purposes.  If Mr. Joyce is considered to control Units owned by the Joyce Foundation, the aggregate number of Units that Mr. Joyce directly or indirectly beneficially owns or controls is 15,800,000, representing approximately 10.5% of the 150,593,232 Units issued and outstanding.

Mr. Joyce is a long time investor in Artis REIT and acquired the above-noted Units for investment purposes.

In the future, Mr. Joyce may acquire or dispose of Units from time to time through, among other things, the purchase or sale of Units on the open market or in private transactions or otherwise, subject to various factors, including general market and economic conditions and other investment and business opportunities available.

Mr. Joyce fully supports Artis REIT’s current vision and strategic direction and has full confidence in Artis REIT’s current management and board of trustees.

Artis REIT’s head office is located at 300-360 Main Street, Winnipeg Manitoba R3C 3Z3.

SOURCE Ronald Joyce

View original content: http://www.newswire.ca/en/releases/archive/October2017/18/c4578.html

Agrium and PotashCorp Announce Receipt of Regulatory Approval in India

Agrium and PotashCorp Announce Receipt of Regulatory Approval in India

Canada NewsWire

SASKATOON and CALGARY, Oct. 18, 2017 /CNW/ – Potash Corporation of Saskatchewan Inc. (PotashCorp) (TSX and NYSE: POT) and Agrium Inc. (TSX and NYSE: AGU) today announced that India has approved their proposed merger of equals transaction.

An Indian appellate court has approved a settlement reached between the merger parties and the Competition Commission of India (“CCI”) and has directed the CCI to issue a clearance order. The CCI’s approval will be conditioned on the parties’ commitment to divest PotashCorp’s minority shareholdings in Arab Potash Company, Israel Chemicals, Ltd. and Sociedad Quimica y Minera de Chile S.A. within a period of 18 months from the issuance of the order. The companies are permitted to consummate the merger prior to the divestments.

The companies previously received unconditional clearance for the merger in Canada, Brazil and Russia. The regulatory review and approval process continues in the U.S. and China and the parties expect to close the transaction by the end of the fourth quarter of 2017.

Upon closing the merger transaction, the new company will be named Nutrien. As the largest global provider of crop inputs and services, Nutrien will play a critical role in “Feeding the Future” by helping growers to increase food production in a sustainable manner.

Additional information on the merger between Agrium and PotashCorp can be found at the following website http://www.worldclasscropinputsupplier.com/. Information about Agrium and PotashCorp can be found under their respective corporate profiles on SEDAR at www.sedar.com or on EDGAR at www.sec.gov, respective websites at www.agrium.com and www.potashcorp.com, or by contacting the representatives below.

About PotashCorp
PotashCorp is the world’s largest crop nutrient company and plays an integral role in global food production. The company produces the three essential nutrients required to help farmers grow healthier, more abundant crops. With global population rising and diets improving in developing countries, these nutrients offer a responsible and practical solution to meeting the long-term demand for food. PotashCorp is the largest producer, by capacity, of potash and one of the largest producers of nitrogen and phosphate. While agriculture is its primary market, the company also produces products for animal nutrition and industrial uses. Common shares of Potash Corporation of Saskatchewan Inc. are listed on the Toronto Stock Exchange and the New York Stock Exchange.

About Agrium
Agrium Inc. is a major global producer and distributor of agricultural products, services and solutions. Agrium produces nitrogen, potash and phosphate fertilizers, with a combined wholesale nutrient capacity of approximately eleven million tonnes and with significant competitive advantages across our product lines. Agrium supplies key products and services directly to growers, including crop nutrients, crop protection, seed, as well as agronomic and application services, thereby helping growers to meet the ever growing global demand for food and fibre. Agrium retail-distribution has an unmatched network of approximately 1,500 facilities and over 3,300 crop consultants who provide advice and products to our grower customers to help them increase their yields and returns on hundreds of different crops. With a focus on sustainability, the company strives to improve the communities in which it operates through safety, education, environmental improvement and new technologies such as the development of precision agriculture and controlled release nutrient products. Agrium is focused on driving operational excellence across our businesses, pursuing value-enhancing growth opportunities and returning capital to shareholders. For more information visit: www.agrium.com



Forward-Looking Statements


Certain statements and other information included in this press release constitute “forward-looking information” or “forward-looking statements” (collectively, “forward-looking statements”) under applicable securities laws. All statements in this press release, other than those relating to historical information or current conditions, are forward-looking statements, including, but not limited to: the completion of the proposed transaction and the expected completion date of the proposed transaction.


Forward-looking statements in this press release are based on certain key expectations and assumptions made by Agrium and PotashCorp, including expectations and assumptions concerning the time necessary to satisfy the conditions to the closing of the transaction, including the regulatory approvals in connection therewith and the nature and timing of expected remedies associated with such regulatory approvals. The anticipated closing date may change for a number of reasons, including due to the need for additional time to satisfy the conditions to the completion of the transaction, including the receipt of the regulatory approvals and/or execution of any remedies relating thereto. Although Agrium and PotashCorp believe that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Agrium and PotashCorp can give no assurance that they will prove to be correct. Forward-looking statements are subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this press release. Key risks and uncertainties include, but are not limited to: Agrium and PotashCorp being unable to satisfy conditions to closing of the proposed transaction, including receipt of regulatory approvals, at all or within the timeframe set out in this press release; changes in government policy, government ownership requirements, changes in environmental, tax and other laws or regulations and the interpretation thereof; and other risk factors detailed from time to time in Agrium and PotashCorp reports filed with the Canadian securities regulatory authorities and the United States Securities and Exchange Commission. The anticipated timeline for completion of the transaction may change for a number of reasons, including the need for additional time to satisfy the conditions to the completion of the transaction, including receipt of regulatory approvals in particular. As a result of the foregoing, readers should not place undue reliance on the forward-looking statements contained in this press release concerning the timing of the transaction.


Agrium and PotashCorp disclaim any intention or obligation to update or revise any forward-looking statements in this press release as a result of new information or future events, except as may be required under applicable U.S. federal securities laws or applicable Canadian securities legislation.

SOURCE Potash Corporation of Saskatchewan Inc.

View original content: http://www.newswire.ca/en/releases/archive/October2017/18/c2127.html