Operator
Good morning, and welcome to the Vornado Realty Trust first-quarter 2021 earnings call. My name is Vanessa, and I will be your operator for today s call. This call is being recorded for replay purposes. [Operator instructions] I will now turn the call over to Ms.
Cathy Creswell, director of investor relations. Please go ahead.
Cathy Creswell
Director of Investor Relations
Thank you. Welcome to Vornado Realty Trust first-quarter earnings call. Yesterday afternoon, we issued our first-quarter earnings release and filed our quarterly report on Form 10-Q with the Securities and Exchange Commission. These documents, as well as our supplemental financial information package are available on our website, www.vno.com, under the investor relations section.
Vornado’s Steve Roth with Penn1, Penn 2 and the Farley Building (Getty, VNO)
With a post-pandemic economic recovery on the horizon, Vornado Realty Trust CEO Steve Roth is excited for the future but a bit disappointed at the lack of distress in the market.
While the real estate investment trust has been able to take advantage of previous downturns to find unique value-add opportunities, things haven’t worked out that way in this cycle, Roth said on Tuesday’s first quarter earnings call.
“This has been kind of a weird period,” Roth said. “We’ve gone through a Covid-caused recession, and it really didn’t hurt our main businesses in terms of our occupancies.” But Roth said the slowdown of income streams like signage and parking caused a $200 million hit to the company’s income.
Donald Trump, Facing $590 Million in Debt Payments, Gets $617 Million From Property Deal
On 5/1/21 at 10:02 AM EDT
Former President Donald Trump, who reportedly has $590 million in debts due over the next four years, is set to receive a $617 million cash payout as part of a bond deal made by Vornado Realty Trust, his longtime majority-stake partners.
Trump apparently scored the massive $600-million plus in cash after investors bought up $1.2 billion of bonds tied to the refinancing of a San Francisco office tower, 555 California. Trump has a 30 percent minority stake in the building, which makes up a massive portion, as much as $800 million, of his entire net worth. Because Vornado holds the majority stake, Trump doesn t have any control over the two properties he owns with them, the second being 1290 Avenue of the Americans in New York City. The windfall he stumbled into comes at a great time for Trump, analysts said, because numerous banks and businesses cut ties with him in t
Wednesday Apr 28, 2021 Chriton Atuhwera, a gay refugee from Uganda, died from his burn wounds April 12. His death came nearly a month after Block 13 at Camp Kakuma, Kenya s largest refugee camp, was burned in the middle of the night by an unknown suspect throwing petrol bombs on the compound. Photo: Courtesy Block 13 LGBTQI refugee activists at Camp Kakuma, Kenya/Facebook
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Trump to Get Boost in JPMorgan s $617 Million Deal with Vornado wealthmanagement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wealthmanagement.com Daily Mail and Mail on Sunday newspapers.