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Company Description (as filed with the SEC)
Gyrodyne Company of America, Inc. is a self-managed and self-administered real estate investment trust ("REIT") formed under the laws of the State of New York. The Company operates primarily in one segment. Prior to December 30, 2013, the Company's primary business was the investment in and the acquisition, ownership and management of a geographically diverse portfolio of medical office and industrial properties and development of industrial and residential properties. On December 30, 2013, the Company distributed to its shareholders, as the non-cash portion of the first special dividend announced on September 12, 2013, all of the equity interests of its subsidiary, Gyrodyne Special Distribution LLC ("GSD"), which owned 100% of the interests in the Company's four real properties, subject to related mortgage debt in favor of Flowerfield Mortgage Inc., also a subsidiary of the Company, with the Company having the contractual right to manage the business and properties of GSD. ... More ...