Vornado to Explore Options to Recapitalize 555 California in San Francisco

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.

West Coast Commercial Real Estate News