Exhibit 99.1
FOR IMMEDIATE RELEASE
NEW YORK REIT BOARD DEVELOPMENT
NEW YORK, NY, October 12, 2016 – New York REIT, Inc. (“NYRT” or the “Company”) (NYSE: NYRT), today announced that Randolph C. Read, Non-Executive Chairman of NYRT, has stepped down from the Board of Healthcare Trust, Inc. in order to focus his full attention on executing the plan of liquidation at NYRT. Mr. Read will thereby only be serving on the NYRT Board in the REIT industry area.
About NYRT
NYRT is a publicly traded real estate investment trust listed on the NYSE that owns income-producing commercial real estate, including office and retail properties, located in New York City. Additional information about NYRT can be found on its website at www.nyrt.com. NYRT may disseminate important information regarding it and its operations, including financial information, through social media platforms such as Twitter, Facebook and LinkedIn.
Forward-Looking Statements
The statements in this press release that are not historical facts may be forward-looking statements. These forward looking statements involve substantial risks and uncertainties. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements NYRT makes. Forward-looking statements may include, but are not limited to, statements regarding stockholder liquidity and investment value and returns. The words "anticipates," "believes," "expects," "estimates," "projects," "plans," "intends," "may," "will," "would," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that might cause such differences include, but are not limited to: the impact of current and future regulation; the impact of credit rating changes; the effects of competition; the ability to attract, develop and retain executives and other qualified employees; changes in general economic or market conditions; the Company’s ability to complete asset sales, refinance its credit facility on favorable terms, if at all, and realize the results of its plan of liquidation; the timing of and the amount of proceeds of asset sales; and other factors, many of which are beyond NYRT's control, including other factors included in NYRT's reports filed with the Securities and Exchange Commission (the “SEC”), particularly in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of NYRT's latest Annual Report on Form 10-K for the year ended December 31, 2015, filed with the SEC on February 26, 2016, the Quarterly Report on Form 10-Q for the quarter ended June 30, 2016 filed with the SEC on August 9, 2016, and the Preliminary Proxy Statement on Schedule 14A with respect to the plan of liquidation filed with the SEC on September 27, 2016, as such Risk Factors may be updated from time to time in subsequent reports. NYRT does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contacts
| Media: | Investors: | |
| Jonathan Keehner | Michael A. Happel | Matthew Furbish |
| Mahmoud Siddig | CEO and President | Director, Investor |
| Joele Frank, Wilkinson Brimmer Katcher | New York REIT, Inc. | Relations |
| jkeehner@joelefrank.com | mhappel@nyrt.com | New York REIT, Inc. |
| msiddig@joelefrank.com | (212) 415-6500 | (212) 415-6500 |
| (212) 355-4449 | | |
