More than a year after spinning off its Washington, D.C., business, Vornado Realty Trust is once again toying with the idea of splitting itself into separate companies. Steven Roth, CEO of the firm, said it’s possible Vornado will spin off a development company from its income-producing real estate. The rationale: Vornado has several expensive development projects in planning around Penn Station, and REIT investors tend to dislike the uncertainty associated with development. “Development is not […]
source https://therealdeal.com/2018/05/01/vornado-mulls-splitting-itself-up-again/
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