VORNADO REALTY TRUST (NYSE:VNO) announced today that it has completed
the previously announced sale of Beverly Connection, a power shopping
center in Los Angeles, California, for $260 million, of which $239
million is cash and $21 million is 10-year seller financing. The sale
resulted in a net gain of approximately $44 million, which will be
recognized in the third quarter.
Vornado Realty Trust is a fully integrated equity real estate investment
trust.
Certain statements contained herein may constitute “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Such factors include, among others, risks associated with the timing of
and costs associated with property improvements, financing commitments
and general competitive factors.
Copyright Business Wire 2014