VORNADO REALTY TRUST SELLS INTEREST IN AMERICOLD REALTY TRUST

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PARAMUS, N.J. — Vornado Realty Trust has entered into an agreement to sell its entire interest in Americold Realty Trust to The Yucaipa Companies for $220 million. The net proceeds sale price will result in a gain of $110 million based on a $1.52 billion valuation before debt and other obligations. Morgan Stanley Real Estate will also sell its interest in Americold to Yucaipa, which will then own 100 percent of the REIT. The sale is set to close immediately.

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