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Stock Market & Financial Investment News

News Breaks
March 17, 2014
09:07 EDTVNOVornado to sell Beverly Connection Shopping Center for $260M
Vornado has entered into an agreement to sell Beverly Connection, a 335,000 square foot power shopping center in Los Angeles, California, for $260M. The property is unencumbered. The sale will result in a net gain of approximately $40M. The sale, which is subject to customary closing conditions, is expected to be completed in 3Q14.
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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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