Vornado's Fund Acquires Lincoln Road Retail Property in Miami Beach

by Benzinga Staff
July 6, 2012 6:38 AM | 1 min read | Make a Comment

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VORNADO REALTY TRUST (NYSE: VNO) announced today that its 25% owned real estate fund (Vornado Capital Partners, L.P.) has acquired 1100 Lincoln Road, a 167,000 square foot retail property, the western anchor of the Lincoln Road shopping district in Miami Beach, Florida. The property is 97% leased, with principal tenants Regal Cinemas, Anthropologie and Banana Republic and includes a 298-space parking garage. The purchase price was $132 million, financed in part by a $66 million new mortgage loan on the property. The loan bears interest at LIBOR plus 2.75% and matures in July 2015 with two one-year extension options. Vornado Realty Trust is a fully integrated equity real estate investment trust.

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.

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