Vornado Completes Acquisition of Partner’s 45% Ownership Interest in One Park Avenue
05 Agosto 2021 - 10:34PM
Vornado Realty Trust (NYSE:VNO) announced today that it has
completed its previously announced acquisition of Canada Pension
Plan Investment Board’s (“CPP Investments”) 45% interest in One
Park Avenue, increasing Vornado’s ownership interest to 100%, which
was pursuant to a right of first offer. The purchase price values
the property at $875 million.
Vornado Realty Trust is a fully-integrated
equity real estate investment trust.
CONTACT
Thomas Sanelli(212) 894-7000
Certain statements contained herein may
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Vornado to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. For a discussion of
factors that could materially affect the outcome of our
forward-looking statements and our future results and financial
condition, see “Risk Factors” in Part I, Item 1A, of our Annual
Report on Form 10-K for the year ended December 31, 2020. Such
factors include, among others, risks associated with the
performance of Vornado’s properties and general competitive
factors. Currently, one of the most significant factors is the
ongoing adverse effect of the COVID-19 pandemic on our business,
financial condition, results of operations, cash flows, operating
performance and the effect it has had and may continue to have on
our tenants, the global, national, regional and local economies and
financial markets and the real estate market in general. The extent
of the impact of the COVID-19 pandemic will depend on future
developments, including the duration of the pandemic, which are
highly uncertain at this time but that impact could be material.
Moreover, you are cautioned that the COVID-19 pandemic will
heighten many of the risks identified in "Item 1A. Risk Factors" in
Part I of our Annual Report on Form 10-K for the year ended
December 31, 2020.
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