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Stock Market & Financial Investment News

News Breaks
June 26, 2014
08:57 EDTVNOVornado increases ownership in One Park Avenue to 55%
Vornado has invested an additional $22.7M to increase its ownership interest in One Park Avenue to 55% from 49.7% through a joint venture with the Canada Pension Plan Investment Board who will increase its existing ownership interest to 45%. The estimated value of the property is $560M. The property is encumbered by a $250M mortgage. One Park Avenue is a 20-story, 941,000 square foot office building located on the full eastern block front of Park Avenue between 32nd and 33rd Streets in Midtown South.
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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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