Pagliuca propelled by corporate mind, personal touch Nov 19, 2009
She was attractive and smart, and she had a lot of his values, said friend and classmate Michael D. Fascitelli, now chief executive of Vornado Realty Trust. She was intellectually his match. (Boston Globe)
Values in Mauled Debt Nov 16, 2009
We own ProLogis (), Vornado Realty Trust (), and Kimco Realty Trust (). ProLogis is an industrial player, Vornado a commercial one, and Kimco's focus is shopping centers. (BusinessWeek)
Thomas Properties receives REIT award Nov 13, 2009
Other Leaders in the Light Awards were given to HCP Inc., Vornado Realty Trust, Wells Fargo Real Estate Funds, Hines REIT Inc., Simon Property Group, AMB Property Management, Macerich and Prologis. The porfolios of Hines, Macerich and Prologis include several properties in the Valley. (Phoenix Business Journal, AZ)
What a steal! Madoffs homes get price cut Nov 12, 2009
Steven Roth, chairman of Vornado Realty Trust, was the buyer, according to The Wall Street Journal. Corcoran did not immediately return requests for comment. (MSNBC -- Business)
Springfield Town Center: Coming Soon? Oct 30, 2009
In 2006, the mall was purchased by New York-based Vornado Realty Trust, one of the largest owners and managers of commercial real estate in the United States. Vornado immediately announced their intent to redevelop, reposition and re-tenant the mall. (South County Chronicle, VA)
Will REITs Feast on Commercial Real Estate's Victims? Oct 28, 2009
REITs touted as likely buyers in the distressed market are Simon Property Group, Vornado Realty Trust, Boston Properties, and Host Hotels ts. The vultures are circling; they are just waiting for the commercial real estate corpses. (Time.com)
Real Estate Exec Buys Madoff Property Oct 24, 2009
REALTOR Magazine Online: The real estate professional's business support tool. YOUR INTERACTIVE MAGAZINE REALTOR.ORG/realtormag. (Realtor Magazine Online)
Vornado's 'hoarding' its cash Oct 21, 2009
Vornado Realty Trust has a $2 ... Vornado Realty Trust has a $2. (New York Post -- Business)
Jersey's win is NYC's loss Oct 14, 2009
It has been in discussions with Vornado Realty Trust for a 14,000-foot space at 1540 Broadway that includes some of the former Virgin Records ... It has been in discussions with Vornado Realty Trust for a 14,000-foot space at 1540 Broadway that includes some of the former Virgin Records. (New York Post -- Business)
Toys 'R' Us Gets Wound Up Again Oct 10, 2009
With cutthroat competition in the toy world, some even suspected Kohlberg Kravis Roberts, Bain Capital Partners, and Vornado Realty Trust () would convert a number of store locations into condominiums. Instead, Toys "R" Us has expanded its revenues by billions of dollars and is likely to file for an initial public offering in early 2010, people close to the company say. (BusinessWeek)
Financial firm finds footage Oct 7, 2009
To make the leasing deal, Vornado Realty Trust agreed to transfer the tenant's obligation at One Penn Plaza to its 2 million-foot building at 1290 ... To make the leasing deal, Vornado Realty Trust agreed to transfer the tenant's obligation at One Penn Plaza to its 2 million-foot building at 1290. (New York Post -- Business)
Deal Drought for U.S. Commercial Property to Make 2009 Worst in 18 Years Sep 12, 2009
SL Green Realty Corp. last month agreed to sell 485 Lexington Ave., a Manhattan office tower, and Vornado Realty Trust last week sold 1999 K St. in Washington for prices that were surprisingly high, Guinee said. Although the volume of transactions are thin, the cap rates are low and the prices are high, Guinee said. (Bloomberg -- US)
Fortune helped fuel Kennedy family legacy, agenda Sep 1, 2009
The family retained ownership of the building until 1998 when it was sold along with other properties including Chicago's Apparel Center which covers about a million square feet to Vornado Realty Trust of Saddle Brook, N.J. for $625 million in 1998 to take advantage of the then-booming real estate market. The deal allowed Kennedy heirs to receive a stake in one of the nation's largest real estate investment trusts. (Atlanta Journal-Constitution -- World)
Talf Program Extended Aug 18, 2009
The extension may help firms such as Vornado Realty Trust, which is considering the sale of commercial MBS through the TALF. Almost 165 billion of mortgages for skyscrapers, shopping malls and hotels are due this year. lect. (New York Post -- Business)
The 10-Q Detective: Vornado Watch Aug 7, 2009
But David Phillips finds reasons for doubt about Vornado Realty Trust ... Vornado Realty Trust () is one of the biggest players in what seems to be one of the least appetizing corners of the business world right now commercial real estate. (BusinessWeek)
USGBC's New LEED Platinum Headquarters Aug 5, 2009
With three out of five tenants and six out of the 10 floors in the building either certified or undergoing certification, a Vornado Realty Trust property was selected as the location. Architecture firm Envision Design was selected because of its extensive LEED project portfolio. (RealtyTimes)
Unfazed by Data, Stocks End Mixed Jul 29, 2009
Vornado Realty Trust (VNO) is planning to raise up to $600 million through a commercial mortgage-backed securities deal that could tap one of the Federal Reserves TALF program, which has yet to be used for CMBS deals, the Journal reported. McGraw-Hill (MHP) lodged a 23% decline in net income and slashed its 2009 earnings guidance. (Fox News)
Vornado Mulling Over Bond Sale for TALF Deal: Report Jul 29, 2009
(Reuters) - Vornado Realty Trust is looking to raise between $550 million and $600 million through a bond sale, the Wall Street Journal said, citing people familiar with the matter. The bond sale, which would qualify for a major government program aimed at reviving the commercial-property market, is expected to be introduced in the fall, the sources told the daily. (ABC News -- Wire)
Commercial Property Lending Gets Jumpstart With $3 Billion in TALF Deals Jul 29, 2009
Vornado Realty Trust may raise as much as $600 million, a person familiar with the matter said yesterday. The transactions would be the first new issues in the $700 billion U.S. market for commercial mortgage-backed securities since it shut down in 2008 as credit markets froze. (Bloomberg -- US)
US office mkt continues to spiral down Jul 8, 2009
US office market continues to spiral down: Report- International Business-News-The Economic Times. International Business. (India Times)
Report: Vornado Mulls Creating Private Equity Fund Jul 8, 2009
Newspaper: Vornado Realty Trust seeks investors to buy real estate at 'distressed' prices ... Office landlord Vornado Realty Trust is hoping to launch its own private equity fund to buy bargain-basement properties, according to a report published Tuesday. (ABC News -- Wire)
BUSINESS BRIEFS Jul 8, 2009
Vornado Realty Trust, the third-biggest US real estate investment trust by market value, is try ing to raise 1 billion to invest in real estate as sets, a source said. Bertelsmann. (New York Post -- Business)
Are REITs a Key to Real Estate Recovery? Jun 24, 2009
Boston Properties (BXP), Regency Centers (REG), Simon Property Group (SPG), and Vornado Realty Trust (VNO) appear to be among the strongest, the magazine says. Philip Martin, a senior vice president of Golub & Co., a real estate investment and development firm, thinks there isn t an oversupply of commercial properties. (Realtor Magazine Online)
New Filene's Basement owner wants downtown Boston site Jun 23, 2009
Vornado Realty Trust, which owns the Downtown Crossing site where the shuttered Filene s Basement is located, paid about $16. 8 million to terminate the existing lease on Washington Street and another $8. (Boston Globe)
Syms Corp Consummates Its Acquisition of the Assets of Filene's Basement, Inc. Jun 19, 2009
Vornado Realty Trust (NYSE: ) provided a portion of the funding for this transaction. A joint venture (unrelated to Syms) 50% owned by Vornado paid approximately $16. (PR Newswire)
Syms, Vornado to Buy Filene's Basement Jun 16, 2009
Discount retailer Syms Corp. and Vornado Realty Trust won an auction for the discount chain Filene's Basement, a Filene's executive said Monday. The price tag was $62. (ABC News -- Wire)
Filene's Rescued By Syms Jun 16, 2009
Syms strengthened its hand by partnering with real estate developer Vornado Realty Trust to make the offer. The proposal still needs to be approved by a bankruptcy court judge tomorrow, but the transaction is expected to close immediately once given the green light. (New York Post -- Business)
Syms-Vornado Win Filene's With $62.4 Million Bid Jun 16, 2009
4 million bid by discount clothier Syms Corp and developer Vornado Realty Trust , a restructuring expert advising Boston-based Filene's said. The offer beat out a rival bid by Men's Wearhouse Inc and Crown Acquisitions, a retail real estate investment firm, and includes the leases for 23 Filene's stores, its trade name, inventory and distribution center, said Terry Corrigan of Abacus Advisors. (ABC News -- Wire)
$62m bid for Filene's Basement Jun 6, 2009
Syms had partnered with Vornado Realty Trust, the owner of the Downtown Crossing property where the shuttered Filene's flagship store is located. The store has been closed since 2007 because of a stalled project to build a 39-story tower on the site. (Boston Globe)
Schwarzman Denied Bargain as Record Junk Bond Rally Stymies Debt Buybacks Jun 4, 2009
whose senior unsecured debt is rated Caa1 by Moodys Investors Service and CCC+ by Standard & Poors, has reported total net income of about $136 million since it was bought by KKR & Co., Bain Capital LLC and Vornado Realty Trust for $6. 6 billion in July 2005, 78 percent less than it posted in the previous 15 quarters. (Bloomberg)
Roth Steps Down At Vornado May 16, 2009
Vornado Realty Trust has promoted Michael Fascitelli to CEO, replacing Steven Roth, who will remain chairman. The change is part of a "long-planned management-succession strategy," Vornado said in a statement. (New York Post -- Business)
Developers pledging to spruce up Filene's site Apr 15, 2009
Representatives of the developers, New York-based Gale International and Vornado Realty Trust, agreed on Monday to seal the roof of the Filene's building and cover the exposed side of the building's shell with mesh, said city officials. In a tantalizing touch meant to instill confidence in the site's future, the mesh will be emblazoned with graphics promoting the site's development. (Boston Globe)
TOWER POWER ON CENTRAL PARK Apr 7, 2009
THE state Appellate Divi sion -- the same folks who recently clobbered Tishman Speyer by ruling that deregulating rent-stabilized apartments at Stuyvesant Town and Peter Cooper Village was illegal -- just helped Vornado Realty Trust and Clarett Group get out of a pickle with their own tenant antagonists. The development partnership, known as Madave Properties SPE, had been stymied by two different court cases before the same judge in its quest to vacate 220 Central Park South in order to... (New York Post -- Business)
Sales are final in many liquidation buys Apr 7, 2009
In the case of Virgin, the chain s owners a real-estate joint venture of Related Companies and Vornado Realty Trust, which bought in 2007 say they are after determining that they could earn higher rents from new tenants in the spaces occupied by the stores. They said the stores themselves remain profitable. (Denver Business Journal, CO)
Rivals criticize Menino over stalled Downtown Crossing project Mar 27, 2009
The developers - John B. Hynes III and Vornado Realty Trust - have not worked on the site since last year, saying they have been unable to obtain loans in the current economic climate ... Despite the recession, Harvard has an 11-figure endowment, while Vornado Realty Trust reported $395 million in net income in 2008, even after a fourth-quarter loss. (Boston Globe)
Rushing to a standstill Mar 26, 2009
"They're trying to figure it out," Palmieri said of the developer, a partnership of New York-based Gale International and Vornado Realty Trust ... A spokeswoman for Gale International and its chief executive, John Hynes III, declined to comment for this report, as did a spokeswoman for Vornado Realty Trust, whose earnings report shows net income of $395 million in 2008. (Boston Globe)
NEW LEASE JUST LIKE OLD TIMES Mar 11, 2009
Vornado Realty Trust Chairman Steven Roth and President Michael Fascitelli each sold shares in their associated Alexander's after hitting a 10-year expiring exercise date. Both executives separately bought 150,000 stock-appreciation rights for 63. (New York Post -- Business)
VIRGIN SUITORS FOR UNION SQ. Mar 4, 2009
The chain, which was purchased by Related and Vornado Realty Trust in 2007, is closing the store in late May or early June. All US-based Virgin Megastores are due to shut down by the summer. (New York Post -- Business)
Virgin Megastore in S.F. will liquidate Feb 28, 2009
Part of the empire started by Sir Richard Branson, Virgin Megastores were sold to the Related Companies and Vornado Realty Trust in 2007. At that time, the company operated 11 stores. (San Francisco Chronicle)
Wall Street Banks Vacate Skyscrapers, Pushing Empty Office Space to Record Feb 27, 2009
Vornado Realty Trust, whose buildings include One and Two Penn Plaza in Midtown, has fallen 36 percent. SL Green of New York gets 41 percent of its revenue from financial firms, including 13 percent from Citigroup, according to its Web site. (Bloomberg)
VORNADO POSTS LOSS Feb 25, 2009
Vornado Realty Trust, the third biggest US real estate investment trust, reported a fourth-quarter loss as office tenants cut jobs and the company wrote down assets. The net loss was 202. (New York Post -- Business)
US commercial property prices dive 15% Feb 20, 2009
ProLogis, the world's biggest warehouse landlord; mall owners Simon Property Group Inc. and General Growth Properties Inc.; office and retail REIT Vornado Realty Trust and Host Hotels & Resorts Inc. led the decline in the REIT index during the past year, each losing more than half their market value. Moody's began publishing the commercial property indexes in September 2007 as the basis for financial contracts to let investors bet on property values rising or falling without having to buy... (Sydney Morning Herald -- Business)
EVERY LITTLE BIT HELPS, IT SEEMS Feb 8, 2009
The mighty Vornado Realty Trust in July somehow made a clerical error and 55,238. 23 now shows as being past due on the office building at 2 Penn Plaza. (New York Post -- Business)
