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| Vornado says sale of land terminated Vornado Realty Trust, a New York based real estate investment trust, announced that its agreement to sell an 8.6 acre parcel of land in the Pentagon City area of Arlington, Virginia has been terminated and the purchaser has forfeited a $27 million deposit. As a result of the forfeiture, Vornado will record termination income of $27 million in the fourth quarter. Further, Vornado will write-down the carrying value of the land from $108 million to approximately $83 million in the fourth quarter. write your comments about the article :: © 2009 Construction News :: home page |