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Vornado Increases its Ownership in Crowne Plaza Times Square Hotel to 33%
In: Business Wire (English), 2015-02-11
Online
Zeitungsartikel
Zugriff:
Vornado Realty Trust (NYSE:VNO), today announced that it has invested an additional $39 million to increase its ownership interest in the Crowne Plaza Times Square Hotel to 33% from 11%. Vornado co-invested with its 25% owned Real Estate Fund and one of the Fund’s limited partners to buy out the Fund’s joint venture partner’s 57% interest in the property for approximately $95 million. This transaction values the property at approximately $480 million. The property is encumbered by a newly placed $310 million mortgage loan bearing interest at LIBOR plus 2.80% and maturing in December 2018 with a one-year extension option. [ABSTRACT FROM PUBLISHER]
Titel: |
Vornado Increases its Ownership in Crowne Plaza Times Square Hotel to 33%
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Autor/in / Beteiligte Person: | Vornado Realty Trust |
Zeitschrift: | Business Wire (English), 2015-02-11 |
Veröffentlichung: | 2015 |
Medientyp: | Zeitungsartikel |
Sonstiges: |
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