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Why One Real Estate Fund Dumped Its $4 Million Stake in This Iconic NYC Office REIT
The Motley Fool· 2025-12-08 11:00
A major fund just walked away from this iconic New York REIT — here’s what long-term investors should really take from the move.On November 14, New York City-based HGI Capital Management disclosed it fully exited its position in Empire State Realty Trust (ESRT 1.89%), selling 494,696 shares for an estimated $4 million during the third quarter.What HappenedAccording to a filing with the Securities and Exchange Commission dated November 14, HGI Capital Management sold all 494,696 shares of Empire State Realty ...