Tagged VNO

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Vornado Announces Record Date for JBGS Spin

NEW YORK, NY–(Marketwired – June 26, 2017) – VORNADO REALTY TRUST (NYSE: VNO) (“Vornado”) announced today that its Board of Trustees has established July 7, 2017 as the record date (the “Record Date”) for its previously announced spin-off of its subsidiary, JBG SMITH Properties (“JBG SMITH”), which will hold Vornado’s Washington, DC business, currently known…

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Vornado to Spin Off DC Unit

VORNADO REALTY TRUST has approved a tax-free spin-off of its Washington, DC business, currently known as Vornado/Charles E. Smith, and that it has entered into a definitive agreement to merge SpinCo with the operating company and certain select assets of The JBG Companies (“JBG”), a leading Washington, DC real estate company. The combined company will…

Vornado to Spin Off Shopping Centers

(Market Cap $18.4B) Vornado Realty Trust has approved a plan to spin off its shopping center business consisting of 81 strip shopping centers and four malls into a new publicly traded REIT. The strip shopping centers are primarily located in the densely populated Northeast. The malls consist of the powerful Bergen Town Center in Paramus, New…