Seeking Alpha

Vornado boosts stake in One Park Avenue

  • With the investment of an additional $22.7M, Vornado Realty Trust (VNO)  is now the majority owner in One Park Avenue, increasing its stake to 55% from 49.7% through a JV with the Canada Pension Plan Investment Board.
  • One Park Avenue is a 20-story, 941K square foot office building, with estimated value of $560M. It has a mortgage of $250M.
  • Press release
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