 NEW YORK, July 20, 2021 GLOBE NEWSWIRE -- Vornado Realty Trust NYSE:VNO announced today that, pursuant to a right of first offer, it has agreed to acquire Canada Pension Plan Investment Boards CPP Investments 45 interest in One Park Avenue, increasing Vornados ownership interest to 100. The purchase price values the property at 875 million. The consideration to CPP Investments is approximately 158 million in cash plus Vornado is assuming CPP Investments share of the existing debt. The property is currently encumbered by 525 million of debt, which bears interest at a rate of LIBOR plus 1.11 currently 1.20 and matures in March 2026, as fully extended. 