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Vornado's Va. office park sells for $200M in auction

In the absence of a competing bid, representatives of the note holders that launched an auction of Vornado Realty Trust's Skyline office park in Fairfax County, Va., bought the property for $200 million, the Washington Business Journal reported.

The struggling complex, which encompasses 2.6 million square feet and is more than 50% vacant, was put on the auction block after Vornado reportedly defaulted on the terms of its $678 million mortgage on the property.

The company still owes roughly $140 million on the debt, the publication noted, citing Trepp LLP.

According to the report, the company decided against moving to contest the foreclosure sale.