Michael Happel, president of New York REIT, Inc. (NYSE: NYRT), joined REIT.com for a video interview during REITWeek 2014: NAREIT’s Investor Forum, held in New York.
New York REIT started as a public, non-listed REIT (PNLR) before listing on the NYSE in April. Happel was asked about market reaction to the listing.
“The market response has been fantastic,” he said. He explained that the listing had two main purposes – to provide liquidity to existing shareholders as well as to provide the company with long-term access to public market debt and equity.