Vornado Realty TrustNYSE
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  • Jul. 9, 2014, 6:05 PM
    • Vornado (VNO) and Crown Acquisitions are buying the retail condominium attached to Midtown Manhattan's St. Regis Hotel, along with the adjacent retail townhouse, for $700M.
    • Vornado will own 67%-80%, and Crown the balance. Final ownership percentages will be "based on the amount of debt financing put on the property and Crowns short-term option to invest additional capital."
    | Jul. 9, 2014, 6:05 PM
  • Oct. 18, 2013, 4:02 AM
    • Vornado (VNO) reportedly wants to exit Toys "R" Us, which it bought along with KKR (KKR) and Bain Capital in 2005 for $6.6B in a leveraged buyout. Vornado's stake is worth $418M, about what the firm paid for the holding.
    • On Wednesday, Toys "R" Us appointed long-time executive Spaniard Antonio Urcelay as CEO on a permanent basis after failing to attract a "retailing superstar" to the position. Urcelay formerly ran the company's European operations, but he won't be relocating to the U.S.
    • Toys "R" Us has long been hampered by the massive debt it took on at the time of the LBO, having paid $3.7B to service its loans since then.
    • The company did file for an IPO in 2010, but the three investors couldn't agree on timing and missed their opportunity after Toys "R" Us' sales started flattening out.
    | Oct. 18, 2013, 4:02 AM
  • Mar. 7, 2013, 5:46 AM

    Vornado Realty Trust (VNO) has confirmed that it offloaded over 40% of its stake in J.C. Penney (JCP) on Monday, selling 10M shares at $16.03 each, or 9% below the retailer's closing price on Friday. The move leaves Vornado with 6.1% in Penney.

    | Mar. 7, 2013, 5:46 AM
  • Jul. 6, 2012, 6:03 AM

    Vornado Realty Trust (VNO) is expanding its prime Manhattan portfolio by agreeing to acquire a retail condominium on 5th Avenue for $707M from a JV of Kushner Cos, Crown Acquisitions, and Carlyle Group (CG), who are set to make a handy profit.

    | Jul. 6, 2012, 6:03 AM