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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