BOSTON, Nov. 2 /PRNewswire-FirstCall/ -- Newkirk Realty Trust, Inc. (NYSE:NKT) announced today its initial public offering of 15,000,000 shares of common stock at a price to the public of $16.00 per share. Newkirk has granted the underwriters of the offering an option to purchase up to 2,250,000 additional shares of its common stock to cover over-allotments, if any. The offering is expected to close on November 7, 2005. Bear, Stearns & Co. Inc. and Credit Suisse First Boston are acting as joint book running managers in the offering, with Friedman Billings Ramsey, KeyBanc Capital Markets and UBS Investment Bank acting as co-managers. Copies of the final prospectus relating to the offering may be obtained from the prospectus department of Bear, Stearns & Co. Inc. c/o Prospectus Department, 383 Madison Avenue, New York, New York 10179 (telephone: 631-274-8321) and Credit Suisse First Boston, Prospectus Department, One Madison Avenue, New York, New York 10010 (telephone: 212-325-2580 or fax: 212-325-8057). About Newkirk Realty Trust Newkirk Realty Trust is a real estate investment trust formed to become the general partner of The Newkirk Master Limited Partnership. The Newkirk Master Limited Partnership is a publicly reporting limited partnership that owns a diversified portfolio of triple-net leased properties and other real estate-related assets. DATASOURCE: Newkirk Realty Trust, Inc. CONTACT: Carolyn Tiffany, Chief Operating Officer of Newkirk Realty Trust, Inc., +1-617-570-4680

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