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NEW YORK CITY-Vornado Realty Trust reported a second-quarter loss Tuesday of $51.9 million compared to net income of $116.9 million for Q2 last year, although Q1 2009 results were strong enough to enable the REIT to post positive numbers for the year-to-date. Net income for the six months ended June 30 was $73.9 million, compared to $506.4 million for the same time period last year.

In its 10-Q filing Tuesday, Vornado noted that the Q2 results for this year and last year include “certain items that affect comparability.” The aggregate of these items increased net loss for Q2 ’09 by $91.5 million and increased net income for Q2 2008 by $49 million. For example, Q2 ’08 results include $58.6 million of net gains on the sale of real estate.

Funds from operations for Q2 was $93.5 million, compared to $200.8 million for the same quarter in ’08. The adjusted FFO for the two quarters was $186.2 million and $205 million, respectively.

Last week, Vornado declared quarterly dividends on both common and preferred shares. It also completed an $82.5-million refinancing of 2011 Crystal Dr., a 442,000-square-foot office in Arlington, VA. After repaying the existing loan and closing costs, the company realized net proceeds of approximately $44.5 million, according to a release.

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