Another TALF Taker?

o Realty Trust, a real estate investment trust, is considering a bond sale that analysts estimate would raise up to $600 million. The proposed sale, which was reported by the [link=http://online.wsj.com/article/SB124880426449487319.html][u]Wall Street Journal[/u][/link] Tuesday, would qualify for the government's Term Asset-Backed Securities Loan Facility (TALF) program. A Vornado spokesperson declined to comment for the Wall Street Journal article, which cites people familiar with the matter. If true, the bond sale would be one of the first commercial mortgage-backed securities (CMBS) transactions executed through TALF. Last week, the Wall Street Journal reported that national mall manager Developers Diversified Realty was looking to test the TALF waters by raising $600 million through two CMBS offerings. Vornado owns or manages more than 100 million square feet of commercial real estate, including 16 million square feet belonging to Toys ‘R’ Us real estate. SOURCE: [link=http://online.wsj.com/article/SB124880426449487319.html]Wall Street Journal[/

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