PARAMUS, N.J., Oct. 31 (UPI) -- New Jersey's Vornado Realty Trust revealed two acquisitions Monday, worth a total of $269 million.
VRT will pay $153 million for the 1.2 million-square foot Broadway Mall in Hicksville, Long Island.
Also, VRT paid $36 million for an option to buy Springfield Mall, in Fairfax County, Va. Upon exercise of the option VRT will pay $80 million and acquire the mall, subject to the existing mortgage which is presently $181 million.
During the option period VRT will manage the mall and receive the malls' net cash flow.