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Vornado Realty's Series O preferreds offer an attractive 7.5% yield from a portfolio of prime Manhattan office properties. Manhattan office occupancy is rising, with strong tenant demand and limited new supply set to support FFO and revenue growth. VNO generated double-digit GAAP leasing spreads in the second quarter. Pending Fed rate cuts and non-core asset sales are set to improve VNO's leverage profile and liquidity, enhancing the preferreds' appeal.
VNO is set to acquire 623 Fifth Avenue for $218M, aiming to redevelop it into a premier Class A boutique office building.
Vornado Realty Trust 623 Fifth Avenue
VNO secures $38M in net proceeds and expects an $11M gain from its sale of 512 West 22nd Street.
NEW YORK, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that its 55% owned joint venture has completed the previously announced sale of 512 West 22nd Street, a 173,000 square foot Class A office building, for $205 million.
VNO completes $120M refinancing for 4 Union Square South, locking in a fixed interest rate and boosting liquidity.
NEW YORK, Aug. 12, 2025 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that it has completed a $120 million refinancing of 4 Union Square South, a 204,000 square foot Manhattan retail property. The ten-year interest only loan has a fixed rate of 5.64%.
Vornado Realty Trust (NYSE:VNO ) Q2 2025 Earnings Conference Call August 5, 2025 10:00 AM ET Company Participants Glen J. Weiss - Executive VP of Office Leasing & Co- Head of Real Estate Michael J.
VNO's Q2 results reflect growth in same-store NOI, aided by higher leasing activity.
Vornado (VNO) Q2 Net Income Jumps 1,955%