Please ensure Javascript is enabled for purposes of website accessibility

Real Estate

Vornado Buys Stake in Two Office Complexes for 1.8B

Vornado Realty Trust of Paramus today said it has agreed to pay $1.8 billion for a 70 percent interest in 1290 Avenue of the Americas, a Manhattan office building with 2 million square feet, and 555 California Street, an office complex with 1.8 million square feet in San Francisco’s financial district. The two complexes have

Read More »

Equity Office Properties Rejects Vornado Offer

Vornado Realty Trust was dealt an apparent setback today as Equity Office Properties Trust (EOP) rejected a $41 billion buyout bid from the Paramus real estate investment trust. Chicago-based EOP issued its statement after consulting with its financial and legal advisors about Vornado’s $56 a share

Read More »

Court Strikes Down COAH Rules

In a decision delivered today, the state’s Appellate Division struck down key provisions of the Council on Affordable Housing (COAH) rules regarding municipal affordable housing obligations for the period 1999 to 2014. It mandated that COAH adopt lawful regulations within six months and barred the state

Read More »

PHH to Cut Costs by 50 million in 2007, Job Cuts Likely

PHH in Mount Laurel, a provider of fleet-management and mortgage services, said job cuts in its mortgage-production and mortgage-servicing division will help the company save about $50 million in 2007. In addition to cutting jobs, the company said it will reduce its spending on Internet technology and outsourced

Read More »