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Vornado Terminates Offer to Buy Equity Office Properties
Vornado Realty Trust today announced that it has terminated its $41 billion bid to purchase Equity Office Properties Trust, the nationÂs largest office landlord. The Chicago-based
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 VornadoÂs $56 a share
Court Strikes Down COAH Rules
In a decision delivered today, the stateÂs 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
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
PREI Goes To India
Prudential Real Estate Investors (PREI) in Parsippany today said it is investing in Indian properties through Beekman Helix India Partners (BHI), a merchant bank based in McLean, Va. PREI has made three investments totaling $50 million so far in a program managed by BHI, which
