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How to Build an Empire

Empire State Realty Trust Inc.'s Tony Malkin sat down with EY's Howard Roth to discuss his firm's path to public status and the benefits shareholders are receiving as a result.

By John Salustri | Updated on December 23, 2014

This is an HTML version of an article that ran in Real Estate Forum. To see the story in its original format, click here.

In October 2013, Empire State Realty Trust Inc., headed by Anthony E. Malkin, completed its IPO, the second largest of its kind in REIT history and Time magazine’s second most important IPO of 2013 (#1 was Twitter). The offering included more than 82.2 million shares of its class A common stock at a public offering price of $13.00 per share, representing an interest in a portfolio that includes the Empire State Building. In all, at the time of closing, Empire State Realty Trust’s portfolio totaled 8.4 million square feet, which through acquisitions on July 15, 2014, expanded to 10 million square feet.

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