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ARC New York City REIT discloses results of self-tender offer for shares

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ARC New York City REIT discloses results of self-tender offer for shares

American Realty Capital New York City REIT's self-tender offer for up to 500,000 of its common shares at $12.95 apiece expired July 24, with the company accepting for purchase all 210,014.31 shares validly tendered in the offer.

The company said it acquired the shares for a total cost of about $2.7 million, excluding relevant fees and expenses. The shares accepted for purchase represent 0.7% of the real estate investment trust's issued and outstanding shares as of June 30.

The New York City-focused REIT had launched the offer to deter MacKenzie Realty Capital Inc. and other possible bidders for the company's shares.