Vornado's Retail JV Completes $350 Million Transaction with UNIQLO

Transaction Details - Vornado Realty Trust's 52% owned street retail joint venture completed the sale of a portion of its U S flagship store at 666 Fifth Avenue to UNIQLO for $350 million [1] - The joint venture retains ownership of 23 832 square feet of retail space at 666 Fifth Avenue including the Abercrombie & Fitch and Tissot stores [1] Financial Impact - Net proceeds from the sale amounted to $342 million which were used to partially redeem Vornado's $390 million of preferred equity on the asset [2] Company Overview - Vornado Realty Trust is a fully-integrated equity real estate investment trust [2]