NEW YORK, June 23, 2020 — VORNADO REALTY TRUST (VNO) announced today 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 Realty Trust is a fully-integrated equity real estate investment trust.