Trinity Place announces update on review of strategic alternatives

Trinity Place Holdings announced that it is providing an update on its ongoing review of potential strategic alternatives. As previously disclosed, the Company has been engaged in a process to review and evaluate potential strategic alternatives to maximize shareholder value. To that end the Company has engaged from time to time with various parties who have expressed interest in the Company’s assets and attributes, and has considered a range of potential strategic transactions, including financing alternatives, a potential financial restructuring or a reorganization, merger, reverse merger, sale or other strategic transaction, with the goal of maximizing the value of the assets and attributes of the Company. The Company has retained Houlihan Lokey and Ackman Ziff as its financial advisors to assist with its evaluation of potential strategic alternatives.