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