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Yucaipa Cos. Acquires AmeriCold Realty Trust

NEW YORK CITY-Morgan Stanley Real Estate and Vornado Realty Trust are selling their stakes in the company, which has been valued at $1.2 billion, before debt.

By Erika Morphy | Updated on March 31, 2008

NEW YORK CITY-Morgan Stanley Real Estate and Paramus, NJ-based Vornado Realty Trust are selling their interest in AmeriCold Realty Trust to Los Angeles-based holding company, Yucaipa Cos. Vornado is selling its share in the firm for $220 million.

Morgan Stanley did not report what its proceeds would be for its stake in the firm. The two shares equal 100%, giving Yucaipa full ownership. The transaction is expected to close imminently.

Vornado did report a $110 million gain on the sale of the company, which had been valued at $1.52 billion, before debt and other obligations. Citi and Morgan Stanley advised Vornado and Morgan Stanely Real Estate on the deal. Morgan Stanley declined to comment to GlobeSt.com about the transaction. AmeriCold referred GlobeSt.com to Vornado for comment, which did not return calls in time for deadline.

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