- Posted at 11:39, November 13, 2013
- By Russ Bleemer
In the face of continuing complaints that the new NYSE-traded REIT undervalues its prime asset, the Empire State Realty Trust has released its first results and its management is thrilled.
The full portfolio—18 properties including the Empire State Building—executed 53 leases in the third quarter, more than 241,000 square feet, and was 85.7%. The Empire State Building is 82% leased, the company reports.
It's a strong performance, according to the company's chairman. “Our portfolio demonstrated performance gains as we continued to implement our renovation, repositioning and leasing strategies,” noted stated ESRT chairman/CEO/president Anthony E. Malkin in a press release statement.
You can see the full financials and comments here.