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Real estate   All assets and liabilities will be removed

Vornado Realty Trust sees $486m gain on disposition of Skyline Properties

Skyline propertiesVornado Realty Trust announced the final disposition by the receiver of its Skyline properties in Fairfax, Virginia.

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As a result, all assets (approximately $237 million) and liabilities (approximately $723 million) related to the Skyline properties will be removed from Vornado's balance sheet and in the fourth quarter of 2016.

Vornado will recognize a non-cash financial statement gain of approximately $486 million and no taxable income. Vornado has no further obligations relating to the Skyline Properties.

Vornado Realty Trust is a fully integrated equity real estate investment trust.

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