Also sold all of the 5.7M of Urban Edge Properties (NYSE:UE) it owns for net proceeds of $108.5M.
The LXP share sale will result in a gain of ~$16.1M in Q1, while the Urban Edge sale will result in a gain of ~$62.4M in the quarter.
Vornado Realty LP calls for redemption all of its $400M principal amount of 5.00% senior unsecured notes due 2022 at a redemption price of about 105.51% on the principal amount plus accrued interest.
Will incur charge of ~$23M in Q1 relating to prepayment and write-off of unamortized financing costs of the 2022 notes.
Previously: Vornado Realty Q4 misses, same-store NOI -6.3% (Feb. 11)
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