Vornado boosts stake in One Park Avenue

|About: Vornado Realty Trust (VNO)|By:, SA News Editor

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.