New York REIT Inc. said Monday that it would liquidate its assets and turn over the proceeds to shareholders, just weeks after it called off a merger plan following investor opposition.

The company estimates that shareholders will receive between $8.73 and $11.50 a share. New York REIT shares closed at $10.03 Friday and are up 4.7% over the last three months.

New York REIT and JBG Cos. canceled their merger earlier this month after it failed to gain support with shareholders.

The company said it was talking with potential buyers who were interested in acquiring individual properties but that it would also be open to offers for the entire company.

New York REIT was created after the financial crisis as real-estate prices slumped.

Write to Austen Hufford at austen.hufford@wsj.com

(END) Dow Jones Newswires

August 22, 2016 08:35 ET (12:35 GMT)

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