WASHINGTON (dpa-AFX) - Vornado Realty Trust (VNO) said that it is initiating a process to explore options to recapitalize, either together or separately, 1290 Avenue of the Americas, a 2.1 million square foot Manhattan office building, and 555 California Street, a three building, 1.8 million square foot office campus in San Francisco.
Vornado owns 70% controlling interests in the partnerships that own these properties and has sole decision-making authority.
Cushman & Wakefield is the exclusive agent for 1290 Avenue of the Americas and Eastdil Secured is the exclusive agent for 555 California Street.
There can be no assurance that a transaction will be completed, Vornado said in a statement.
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