WASHINGTON (AFX) - Real estate investment trusts Vornado Realty Trust, Crescent Real Estate Equities Co. and Yucaipa Companies LLC said Thursday that their AmeriCold Realty Trust unit has agreed to acquire four refrigerated warehouses and the lease on a fifth from ConAgra Foods Inc., for about $190 million.
The five warehouses contain a total of 1.7 million square feet and 48.9 million cubic feet, and are located in Atlanta, Ga., Fort Worth, Texas, Victorville, Calif., York, Pa., and Rochelle, Ill.
The purchase price consists of $152 million in cash to ConAgra Foods, and $38 million for the recording of a capital lease obligation for the fifth facility. The deal also includes an option to buy the fifth warehouse.
ConAgra Foods is packaged food company based in Omaha, Neb. AmeriCold expects to complete the acquisitions later this year.
Shares of Vornado dipped 34 cents to end at $105.91, while Crescent Real Estate gained 20 cents to close at $21.65, and ConAgra lost 3 cents to $23.80, all on the New York Stock Exchange.
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