Empire State Realty Trust to Participate at BofA Securities 2020 Global Real Estate Virtual Conference
September 15 2020 - 7:00AM
Business Wire
Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), a
leading real estate investment trust with office and retail
properties in Manhattan and the greater New York metropolitan area,
today announced that the Company will participate in one-on-one
meetings with investors as part of the BofA Securities 2020 Global
Real Estate Virtual Conference. An updated version of its investor
presentation will be available in the “Investors” section of the
Company’s website at www.empirestaterealtytrust.com.
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real
estate investment trust (REIT), owns, manages, operates, acquires
and repositions office and retail properties in Manhattan and the
greater New York metropolitan area, including the Empire State
Building, the world's most famous building. Headquartered in New
York, New York, the Company's office and retail portfolio covers
10.1 million rentable square feet, as of June 30, 2020, consisting
of 9.4 million rentable square feet in 14 office properties,
including nine in Manhattan, three in Fairfield County, Connecticut
and two in Westchester County, New York; and approximately 700,000
rentable square feet in the retail portfolio.
Forward-Looking Statements
This press release includes “forward looking statements” within
the meaning of the federal securities laws. Forward-looking
statements may be identified by the use of words such as
“believes,” “expects,” “may,” “will,” “should,” “seeks,”
“approximately,” “intends,” “plans,” “estimates,” “contemplates,”
“aims,” “continues,” “would” or “anticipates” or the negative of
these words and phrases or similar words or phrases. The following
factors, among others, could cause actual results and future events
to differ materially from those set forth or contemplated in the
forward-looking statements: (i) the economic, political and social
impact of, and uncertainty relating to, the COVID-19 pandemic,
including (a) the effectiveness or lack of effectiveness of
governmental relief in providing assistance to businesses that have
suffered significant declines in revenues as a result of mandatory
business shut-downs, “shelter-in-place” or “stay-at-home” orders
and social distancing practices, as well as individuals adversely
impacted by the COVID-19 pandemic, (b) the duration of any such
orders or other formal recommendations for social distancing and
the speed and extent to which revenues of the Company’s tenants,
particularly retail, and the Observatory recover following the
lifting of any such orders or recommendations, (c) the potential
impact of any such events on the obligations of the Company’s
tenants to make rent and other payments or honor other commitments,
including such tenants’ ability to pay rent following the
termination of temporary governmental assistance and benefits
programs, (d) government moratoriums and/or limits (including
temporary closure of certain court systems) which directly or
indirectly abridge the enforcement of lease obligations and related
guarantees, (e) the potential impact on the Company’s human capital
management, including restrained productivity associated with
work-from-home and risks associated with employees returning to the
office, (f) international and national disruption of travel and
tourism with a resulting decline in Observatory visitors, and (g)
macroeconomic conditions, such as a disruption of, or lack of
access to, the capital markets, and general volatility adversely
impacting the market price of the Company’s Class A common stock
and publicly-traded partnership units of the Operating Partnership;
(ii) resolution of legal proceedings involving the Company; (iii)
reduced demand for office or retail space, including as a result of
the COVID-19 pandemic; (iv) changes in our business strategy; (v)
changes in technology and market competition that affect
utilization of our office, retail, broadcast or other facilities;
(vi) changes in domestic or international tourism, including due to
health crises such as the COVID-19 pandemic, geopolitical events
and/or currency exchange rates, which may cause a decline in
Observatory visitors; (vii) defaults on, early terminations of, or
non-renewal of, leases by tenants; (viii) increases in the
Company’s borrowing costs as a result of changes in interest rates
and other factors, including the potential phasing out of LIBOR
after 2021; (ix) declining real estate valuations and impairment
charges; (x) termination or expiration of our ground leases; (xi)
changes in our ability to pay down, refinance, restructure or
extend our indebtedness as it becomes due and potential limitations
on our ability to borrow additional funds in compliance with
drawdown conditions and financial covenants; (xii) decreased rental
rates or increased vacancy rates; (xiii) our failure to redevelop
and reposition properties, or to execute any newly planned capital
project successfully or on the anticipated timeline or at the
anticipated costs; (xiv) difficulties in identifying properties to
acquire and completing acquisitions; (xv) risks related to our
development projects (including our Metro Tower development site)
and capital projects, including the cost of construction delays and
cost overruns; (xvi) impact of changes in governmental regulations,
tax laws and rates and similar matters; (xvii) our failure to
qualify as a REIT; and (xviii) environmental uncertainties and
risks related to adverse weather conditions, rising sea levels and
natural disasters. For a further discussion of these and other
factors that could impact the Company's future results, performance
or transactions, see the section entitled “Risk Factors” in the
Company’s Annual Report on Form 10-K for the year ended December
31, 2019, and the Company’s Quarterly Report on Form 10-Q for the
quarterly period ended June 30, 2020 and other risks described in
documents subsequently filed by the Company from time to time with
the Securities and Exchange Commission.
While forward-looking statements reflect the Company's good
faith beliefs, they are not guarantees of future performance. The
Company disclaims any obligation to update or revise publicly any
forward-looking statement to reflect changes in underlying
assumptions or factors, new information, data or methods, future
events, or other changes after the date of this press release,
except as required by applicable law. Prospective investors should
not place undue reliance on any forward-looking statements, which
are based only on information currently available to the Company
(or to third parties making the forward-looking statements).
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Investors Empire State
Realty Trust Investor Relations (212) 850-2678
IR@empirestaterealtytrust.com
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