- Posted at 8:06, November 11, 2013
- By Russ Bleemer
Empire State Realty Trust Inc., looking to boost property values as fast as possible to stem the concern over the stock prices in its recent public offering, have added a senior vice president and director of leasing and marketing
The REIT says that Ryan Kass will join incumbent Fred Posniak, who is senior vice president of leasing and marketing, “to build the trust’s in-house leasing and marketing team,” a press release states.
The company launched a controversial public offering in October centered around the Empire State Building. It owns a total of 12 properties in the metropolitan area, including seven in Manhattan.
Dissident shareholders blasted the deal and tried to block it. They wanted Malkin Holdings, the REIT’s principal shareholder, to consider offers made by investors they said exceeded the public offering plans.
Since the Oct. 2 launch on the New York Stock Exchange, they have continued to complain that the share values are considerably less than Malkin Holding’s projections. See “Empire State Building stakes worth 25% less than projections,” on the Real Deal, here.
Kass joins the REIT from Newmark Grubb Knight Frank, where he was involved in leasing, among other high profile assignments, Empire State Building.