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ARC New York City REIT closes self-tender offer

American Realty Capital New York City REIT Inc. closed its self-tender offer for up to 140,000 common shares for a net cost of roughly $2.4 million, excluding transaction fees and expenses.

Upon the advice of its depository, the company disclosed that the offer was oversubscribed with an aggregate of 1,425,191 shares validly tendered in the offer, which expired at 11:59 p.m. ET on March 20. The company said it only accepted for purchase 140,000 shares at $17.03 apiece, in accordance with the terms of its offer.

The shares accepted for purchase in the offer made up less than 0.01% of the company's issued and outstanding shares as of Feb. 28, according to a filing.