Vornado Completes Acquisition of Boston Design Center
PARAMUS, N.J.--(BUSINESS WIRE)--Dec. 28, 2005--Vornado Realty Trust (NYSE:VNO) today announced that it has completed its previously announced acquisition of the Boston Design Center which contains 552,500 square feet located in South Boston and which will be operated by the Company's Merchandise Mart division. The purchase price was $96 million, consisting of $24 million in cash and the assumption of an existing $72 million mortgage.
Vornado Realty Trust is a fully-integrated equity real estate investment trust.
Certain statements contained herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with the timing of and costs associated with property improvements, financing commitments and general competitive factors.
CONTACT: for Vornado Realty Trust
Joseph Macnow, 201-587-1000
SOURCE: Vornado Realty Trust