NEW YORK CITY-Next month, Vornado Realty LP will redeem $87.5 million in 8.5% Series D-1 Cumulative Redeemable Preferred Units. The $292 million sale of Two Park Ave., which was announced in August, has closed.

SAN FRANCISCO-Ground was officially broken Friday for a 200-room luxury boutique hotel that will rise on the the city's waterfront, across Embarcadero from the recently restored Ferry Building. The co-developers are Joie de Vivre Hospitality and Emerald Fund, Inc.

ELKHART, IN-One of several organizations Bayer considered, Feed the Children will move its international headquarters and Midwest distribution center to the complex and launch a research and development center focused on meeting the nutritional needs of children worldwide.

WILSONVILLE, OR-Approximately 56% of the 2,300 homes planned for the 520-acre former state hospital property will be apartments and condominiums. The first 60 lots are scheduled to be available for occupancy in the summer of 2004.