Vornado Realty Trust VNO recently completed the acquisition of Canada Pension Plan Investment Board’s (CPP Investments) 45% interest in One Park Avenue pursuant to a right of first offer. The transaction values the property at $875 million.In its earlier press release, Vornado mentioned that the consideration to CPP Investments is roughly $158 million in cash. It is taking up CPP Investments’ share of the existing debt. With the deal’s completion, Vornado now enjoys full-ownership interest of this office asset.Located in Manhattan, the 943,000-square-foot office building is 67% leased to New York University through May 2050. This indicates a steady cash flow from the property over the long term.Reflecting bullish sentiments, shares of Vornado gained 1.69% during the Aug 6 regular trading session.Vornado Realty had originally acquired an interest in the property at a $394 million valuation in March 2011. It had then recapitalized the property with CPP Investments in June 2014 at a $560-MILLION valuation.Vornado has a concentration of high-quality assets, and is focused on expanding its market share in the New York City office and Manhattan street retail. The latest stake acquisition is also in sync with its strategy.The focus on having assets in such a few select high-rent, high barrier-to-entry geographic markets, as well as a diversified tenant base, that includes several industry bellwethers are expected to drive steady cash flows and fuel its growth engine over the long run. It is selling assets and reinvesting proceeds in developments and redevelopments.However, the pandemic resulted in a downturn in the office and retail real estate markets. Shutdown of certain businesses is expected to reduce rental income and impact occupancy. In addition, store closures and bankruptcy woes have aggravated amid higher e-commerce adoption, which is a major concern.In the past six months, shares of this Zacks Rank #3 (Hold) have appreciated 13.3%, underperforming the industry’s growth of 17.4%.Image Source: Zacks Investment ResearchStocks to ConsiderCoreSite Realty Corporation’s COR FFO per share estimate for the current year has moved up marginally to $5.58 in the past week. The company carries a Zacks Rank of 2 (Buy), currently. You can seethe complete list of today’s Zacks #1 Rank stocks here.Extra Space Storage Inc.’s EXR Zacks Consensus Estimate for 2021 FFO per share moved 3.4% north to $6.34 in the past month. The company currently carries a Zacks Rank of 2.CubeSmart CUBE holds a Zacks Rank of 2, at present. The Zacks Consensus Estimate for the ongoing-year FFO per share has been revised 1.6% upward to $1.95 in a week’s time.Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Vornado Realty Trust (VNO): Free Stock Analysis Report CoreSite Realty Corporation (COR): Free Stock Analysis Report Extra Space Storage Inc (EXR): Free Stock Analysis Report CubeSmart (CUBE): Free Stock Analysis Report To read this article on Zacks.com click here.