(To read more on the multifamily market, click here.)
ROSSLYN, VA-Vornado Realty Trust has become part owner of amixed-use complex here with its acquisition of a 46%-partnershipinterest in partnerships that own the office and residentialproperty. The Paramus, NJ-based REIT bought the interest from alimited partnership that includes Vornado trustees Robert H. Smith,Robert P. Kogod and other family members that owned 19% one of thepartnership.
The price of Vornado's partnership interest purchase was 730,000Vornado Realty LP partnership units and $27.3 million to cover apotion of the existing debt on the property. The complex involvedin the transaction consists of four structures containing a totalof 714,000 sf of office space, and two additional buildingsfeaturing 195 rental apartment homes.
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