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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| New York Reit | NYSE:NYRT.WD | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
From Jul 2019 to Jul 2024
By Josh Beckerman
Vornado Realty Trust will spin off its Washington, D.C.-area holdings, a move under consideration for some time that it says will make it a more "New York-centric" real-estate investment trust.
In what Vornado says is an $8.4 billion transaction, its D.C. business will combine with certain assets of Chevy Chase, Md.-based JBG Cos.
Vornado shareholders are expected to own about 74% of an entity called JBG Smith.
The deal arrives shortly after another JBG transaction was called off. JBG had planned to merge with New York REIT Inc., but New York REIT said it would liquidate its assets after its shareholders opposed the combination with JBG.
Vornado also said third-quarter funds from operations were $225.2 million, or $1.19 a share, compared with $236 million, or $1.25 a share, a year earlier
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
October 31, 2016 17:32 ET (21:32 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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