RNY Property Trust
Trouble in the US property market continues to plague RNY Property Trust as the listed trust posts a $33 million loss for the year to December. Occupancy levels in its New York properties dropped last year as several major tenants vacated their spaces before their leases ended. The trust continues to suspend distributions to unit holders as it tries to strengthen its capital position and increase liquidity. The trust also continues to pay interest on a US$247.6 million mortgage debt.
Trouble in the US property market continues to plague RNY P roperty Trust . Occupancy levels in its New York properties dropped as several major tenants vacated before lease expiry. Values continued to fall. Distributions have been suspended in order to strengthen the capital position and increase liquidity. The trust is paying interest on a $US247.6 million mortgage debt.
Ruth Liew
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