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Recapitalization and Redevelopment of 280 Park Avenue Announced

New York, NY - May 18, 2011 - (RealEstateRama) -- In a transaction completed today, 280 Park Avenue equity partners Broadway Partners and Investcorp have executed a recapitalization agreement with mezzanine debt holders SL Green Realty Corp (NYSE: SLG) and Vornado Realty Trust (NYSE: VNO). The transaction merges the parties' respective equity and debt positions to form a new ownership structure for the Class A office property and includes funding for an approximate $150 million repositioning and re-tenanting program

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What Is Title Insurance and Why Do You Need One?

Title insurance is a type of protection that both consumers and businesses can agree on. It is a form of indemnity insurance that protects both sides from defects in a property title. Without this paperwork in place, the risk of owning property becomes unimaginable.