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Thor Equities Raises Offer For Empire State Building Associates LLC-Reuters


Monday, 9 Sep 2013 08:08pm EDT 

Reuters reported that Thor Equities LLC, has raised its offer to buy the Empire State Building, hoping to trump a plan to roll the property into a trust. Thor has offered to buy Empire State Building Associates LLC, which owns the land, the building and the master lease on the historic tower, for $1.4 billion in cash, significantly higher than the $1.18 billion the limited liability company is estimated to be worth should it become part of a publicly traded real estate investment trust (REIT). Thor's previous offer was $1.25 billion. 

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