Vornado Realty Trust Essay Example | Topics and Well Written Essays - 500 words

Vornado Realty Trust - Essay Example operties aggregating to about 2.2 million square feet and 32.4% interest in Alexandra’s Inc., which possesses six properties, in the New York metropolitan area, including 731 Lexington Avenue and the 1.3 million square foot Bloomberg L.P headquarters building (Russell & Cohn 12). Retail properties owned by Vornado Realty Trust include 120 strip shopping centres, single-tenant retail assets and malls, which audits to about 20.8 million square feet mainly established in California, Puerto Rico and the northeast states (Russell & Cohn 12). Vornado, with about 70% interest, controls 555 retail shops, in California street, and a three building office, in San Francisco financial district known as bank of America centre, which aggregates to 1.8 million square feet (Russell & Cohn 13). Vornado realty trust has a 25% of its capital partners providing about 800 million dollars of the real estate fund. The stock information regarding rental changes and occupancy rates, in different regions, where properties of Vornado Realty Trust are located, were at $86.02 and dividend of about $2.92 (Russell & Cohn 34). Change was 1.2%, which yielded 3.39% in the latest result compared to the previous years. The company had an income of $856.153 million boosted, in 2011, by the increase in rental rates, in New York and Washington, in 2011. The Vornado Realty Trust owns high-rise commercial buildings, in the tune of hundred millions, in Washington DC and New York (Russell & Cohn 45). Over the past years, the company increased its revenue exponentially in the previous years was driven by increases in total square footage. The first quarter of the company’s sales, of 350-west mart centre, was a commendable rental and occupancy rate increase for almost $228million (Russell & Cohn 46). The second quarter rental changes, in Washington and New York, by the sales of Washington office brought the sales of $500 with a net gain of $177million to the company (Russell & Cohn 54). These rates, in