NEW YORK, Oct. 22 /PRNewswire/ -- Kevin Comer, Senior Managing Director of Beck Street Capital, a private New York City-based real estate investment firm, today issued the following statement to the stockholders of Realty Finance Corporation (Pink Sheets: RTYFZ):
"We continue to adamantly disagree with the opinions and claims expressed by Realty Finance Corporation and strongly believe there are better alternatives available to shareholders to enhance Realty Finance Corporation's value and transform it into a more successful, and prudent, public real estate investment company earning stable and growing cash flow."
Mr. Comer added, "Beck Street Capital is a long-term, value-oriented real estate investment firm. Based on an overwhelming show of support from RTYFZ stockholders regarding our expression of interest in a change of control of Realty Finance Corporation, we believe our interests are closely aligned with fellow shareholders. We welcome your continued direct feedback and ask each stockholder to contact us at firstname.lastname@example.org, by fax at 212-337-3174 or by phone at 212-337-3173, extension 224 to communicate contact information, shares held and your views on our goals."
"We are confident that management and board realignment is the first step on the road to recovery and look forward to continuing our dialogue with stockholders on our plans to grow shareholder value at Realty Finance Corporation."
As previously announced on October 18, 2010, Beck Street Capital holds 2,910,812 shares in Realty Finance Corporation, representing an approximate 9.4% ownership stake.
This statement does not constitute a solicitation of an offer to buy shares of Realty Finance Corporation nor does it constitute a proposal to Realty Finance Corporation. Beck Street Capital will make further announcement of any such plans in due course.
About Beck Street Capital
Beck Street Capital is a private real estate investment firm headquartered in New York City. Formed in 2000, Beck Street Capital invests in high value-added, mixed-use investment properties in dense urban locations with high barriers to entry. Beck Street invests in a number of asset classes, including office, residential and retail, and has successfully completed value creation strategies that include retail repositioning, residential condominium conversion, and asset redevelopment. For more about Beck Street, visit www.beckstreetcapital.com.
SOURCE Beck Street Capital