ESRT Faces New Activist Investor Following Stake Acquisition

AI Summary

Activist investor Erez Asset Management disclosed a 5.8% stake in Empire State Realty Trust and is pressing its leadership to sell assets. The move could lead to strategic changes at the publicly traded real estate owner.

An activist shareholder has arrived at Empire State Building Trust (ESRT).  Erez Asset Management, a New Rochelle, N.Y.-based activist investment firm and hedge fund manager, has disclosed its acquisition of 10 million shares, or a 5.8 percent stake, in ESRT, Bisnow first reported. Erez has already begun putting pressure on ESRT leadership to sell some […]