Price/LTM FFO
Vornado to Offer $300M of Preferred Shares
Fitch Ratings gives Vornado’s stock issue a BB+ credit rating. The offering is scheduled to close this Wednesday.
Vornado Buys, Sells–and Pulls Back Its Veil
Vornado had a busy 4th of July week, with nearly $1.3 billion in deals. But in announcing its array of purchases and dispositions, it has also been pursuing a new “transparency” strategy. What remains to be seen is how the market will react to everything it’s doing.
Chesapeake Lodging Trust Nabs $60M Loan
Relying on two key Manhattan properties as collateral, Chesapeake Lodging Trust has obtained a $60 million loan through Wells Fargo Bank N.A. The two-year term loan’s structure is multi-faceted, to say the least.
Starwood Hotels Celebrates Passing 100-Hotel Mark in China with Plans for Another 100
Starwood Hotels & Resorts Worldwide, one of the leading international hotel and leisure companies, celebrated an important milestone, the passing of the 10o-hotel mark in its second-largest market outside the United States.
Brandywine-Allstate JV Takes Suburban D.C. Portfolio for $120.6M
The joint venture will acquire the three-building asset in Silver Spring, Md., from Urdang’s Value-Added Fund II and Moore & Associates.
SL Green Secures NYC’s 373 KSF Lease Renewal, Refinances Property for $230M
The city of New York has decided to stay put in in its 372,500-square-foot home at 100 Church St. in Manhattan, at the same time that building owner SL Green Realty Corp. refinanced the 1 million-square-foot property to the tune of $230 million.
Tanger, Gordon Group Plan Upscale Outlet Center at Connecticut Casino Complex
Taking a cue from Las Vegas, Tanger Outlets Foxwoods will link the 312,000-square-foot center to two hotels at Foxwoods Resort Casino, the largest of its kind in the United States by gaming square footage.
Ventas Sells 12 Seniors Communities to Assisted Living Concepts for $100M
The transaction resolves recent litigation between the two companies and also severs the ties between them.
