SOURCE: Vornado Realty Trust

Vornado Realty Trust

August 06, 2015 18:25 ET

Vornado Sells Its 50% Partnership Interest in Monmouth Mall

PARAMUS, NJ--(Marketwired - August 06, 2015) - VORNADO REALTY TRUST (NYSE: VNO) announced today that it has sold its 50% interest in the Monmouth Mall in Eatontown, New Jersey to its joint venture partner, valuing the property at approximately $229 million. Net proceeds to Vornado were $38 million. The financial statement gain of approximately $33 million will be recognized in the third quarter.

Vornado Realty Trust is a fully integrated equity real estate investment trust.

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 the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with the timing of and costs associated with property improvements, financing commitments and general competitive factors.

Contact Information

  • CONTACT:
    STEPHEN THERIOT
    (201) 587-1000