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Trinity to Acquire Luxury Park Slope Mixed-Use Property
NEW YORK--(BUSINESS WIRE)-- Trinity Place Holdings Inc. (NYSE: TPHS) announced today that it has entered into an option agreement to acquire a newly built 105-unit, 12-story apartment building in Park Slope, Brooklyn for $81.0 million. The property includes 6,264 square feet of retail space, a portion of which is leased to Starbucks Inc. The transaction, which is subject to customary closing conditions, is expected to close in the first quarter of 2018. Located on the border of the Park Slope and Gowanus neighborhoods of ...
Trinity Place Holdings Inc. Announces Final Results of Rights Offering
NEW YORK--(BUSINESS WIRE)-- Trinity Place Holdings Inc. (the “Company”) (NYSE MKT:TPHS) announced today the final results of its previously announced common stock rights offering at a subscription price of $7.50 per share. An aggregate of 1,884,564 shares are being issued pursuant to the rights offering for aggregate gross proceeds to the Company of $14,134,230. A total of 31,228,005 shares of common stock will be issued and outstanding once all new shares have been delivered. The rights offering was made pursuant to a Regist...
Trinity Place Holdings Inc. Announces Commencement of Rights Offering
NEW YORK--(BUSINESS WIRE)-- Trinity Place Holdings Inc. (the “Company”) (NYSE:TPHS) announced today that it has commenced its previously disclosed rights offering of up to 3,700,000 shares of its common stock. Under the terms of the rights offering, the Company will distribute 0.126093 non-transferable subscription rights to purchase shares of its common stock, for each share of its common stock held by a stockholder as of 5:00 p.m., New York time on the record date of March 1, 2017, as more fully described in the prospectus supplemen...
Trinity Place Holdings Inc. Announces Entry into Lines of Credit
NEW YORK--(BUSINESS WIRE)-- Trinity Place Holdings Inc. (NYSE:TPHS) today announced that it has entered into two secured lines of credit aggregating $12.0 million, with Sterling National Bank as the lender. The lines, which are secured by the Company's properties located in Paramus, New Jersey, and Westbury, New York, mature in 12 months. The Company has an option to extend the maturity date of each line for an additional 12 months, subject to certain conditions. The lines, which bear interest at 100 basis points over prime with a flo...
Trinity Place Holdings Inc. Announces Private Placement of Its Common ...
NEW YORK--(BUSINESS WIRE)-- Trinity Place Holdings Inc. (NYSE:TPHS) today announced that it entered into an agreement for a non-brokered private placement of its common stock for the sale of an aggregate of 3,585,000 shares of common stock at a purchase price of $7.50 per share, for aggregate gross proceeds of $26,887,500. The investors in the private placement include affiliates of or funds managed by Horse Island Asset Management and GAMCO Investors Inc. (NYSE:GBL), among others, as well as affiliates of or funds managed by e...
Ford Equity US Rating and Forecast Report
Ford Equity Research covers more than 4,000 stocks using a proprietary quantitative model that evaluates a company’s earnings strength, its relative valuation and recent price movement. Ford’s five recommendation ratings include strong buy, buy, hold, sell, strong sell. For all stocks in our coverage universe, ratings are generated each week and reflect the fundamental and price data as of the last trading day of the week.
Trinity Place Holdings and Pacolet Milliken Acquire Brooklyn Building
NEW YORK--(BUSINESS WIRE)-- Trinity Place Holdings, Inc. (NYSE: TPHS) announced today that in a joint venture with Pacolet Milliken Enterprises, Inc. they have closed on the acquisition of The Berkley, a newly built, market-leading 95-unit apartment building in Williamsburg, Brooklyn for $68.875 million. The purchase was capitalized by a $42.5 million interest-only senior loan from Freddie Mac at a spread of 216 basis points above LIBOR. Located in North Williamsburg, Brooklyn at 223 North 8th Street, The Berkley is ju...
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