Vornado Pulls In $260M From LA Shopping Center Sale

Law360, New York (March 17, 2014, 1:18 PM EDT) -- New York City-based Vornado Realty Trust said on Monday it has agreed to sell a Los Angeles shopping center for $260 million, the latest in a string of retail center sales for the real estate investment trust over the past two months, amid rumors of a spin-off for its retail property portfolio.

The Beverly Connection is a 335,000-square-foot shopping center located near the intersection of the Beverly Hills and West Hollywood neighborhoods of Los Angeles. Vornado said it will reap a $40 million net gain from...
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