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Stock Market & Financial Investment News

News Breaks
January 25, 2013
09:14 EDTVNOVornado completes sale of Green Acres Mall for $500M
Net proceeds from the sale were approximately $185M after repaying the existing loan and closing costs. The financial statement gain is approximately $205M and the tax gain is approximately $304M. The tax gain has been deferred as part of a like-kind exchange.
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August 21, 2014
16:57 EDTVNOVornado JV sells Georgetown Park for $272.5M
Vornado Realty Trust announced that a joint venture owned equally by Vornado’s real estate fund and its joint venture partner, a real estate fund managed by Angelo, Gordon & Co., have sold Georgetown Park for $272.5M. Vornado owns 25% of Vornado Capital Partners. Georgetown Park is a prominent 305,000 square foot multi-level retail property located at M Street and Wisconsin Avenue in Georgetown. Vornado was responsible for developing and leasing the property, which was completely renovated and transformed, reconfiguring its floor plates to accommodate large format retail tenants with modern tenant demands.

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