Vornado To Explore Options For Office Buildings

(RTTNews) - 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.