NYC REIT to Give up REIT Status, Sets Reverse Stock Split as CRE Recovery ‘Remains Challenged’
January 16, 2023
Article by: Tomi Kilgore
The owner of commercial real estate in New York City said the pace of recovery of the office segment “remains challenged” in the post-COVID pandemic world, as leasing and occupancy trends have slowed, which has led political, community and business leaders to propose repositioning plans for NYC office assets.
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