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Vornado Considers Spin-Off of Strip Centers

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In a move very similar to the one Simon Property Group announced in late 2013, diversified REIT Vornado Realty Trust is looking into spinning off its suburban strip centers into a separate company, reports the Wall Street Journal. The REIT's strip center business contains more than 100 properties and is valued between $2 billion and $3 billion. Spinning the retail assets into a separate company and potentially merging it with Retail Opportunity Investments Corp., a San Diego-based owner ...

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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