Aug
27

Its $182M Sale Aside, What Does Vornado Think About Its Local Portfolio?

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1750 Pennsylvania Ave.

WASHINGTON, DC—Vornado Realty Trust announced it has entered into an agreement to sell 1750 Pennsylvania Ave., NW.

The REIT will net proceeds of $102 million and it will defer the tax gain under a like-kind exchange.

Other than these details, the REIT revealed nothing else about the sale of the 278,000 square foot building. It didn’t indicate, for example, whether this sale means that Vornado has abandoned the ideal it floated earlier this year of spinning off its Washington DC portfolio? A request for comment was not returned in time for publication…

Its $182M Sale Aside, What Does Vornado Think About Its Local Portfolio?

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