Financial/Banking

New York — Vornado Realty Trust plans to spin off nearly 16.1 million sq. ft. of shopping center assets into a new publicly traded REIT by the end of 2014, leaving the company with a largely office-centric portfolio, according to SNL Real Estate.

The move will simplify Vornado’s investment strategy and enable the company to focus on the ownership of office assets in the Washington, D.C., and New York City regions, including the high-value Manhattan office over retail assets.

Woodland, Calif. – The Gateway Shopping Center in Woodland, Calif. has reportedly received permission to expand the types of businesses allowed in its use permit. According to the Woodland Daily Democrat, the Woodland Planning Commission is granting approval for food services, banks, professional service offices, nail salons and dry cleaners to be located at the center.

RadioShack and Payless Shoes are also reportedly awaiting approval to open stores at the center.

American Express added Walmart’s U.S. network of 4,100 stores as locations where customers can participate in the card issuers prepaid Serve offering.

Nashville, Tenn. - Cybera Inc., has hired Jeremy Landa as it new senior VP of finance Jeremy Landa. Landa will be part of Cybera’s executive team, responsible for providing strategic financial leadership to support the company’s growth and expansion.

Prior to joining Cybera, Landa served as CFO of Simplex Healthcare. During his career, Landa also oversaw the corporate strategic planning process for Gaylord Entertainment.

Dallas — Shayan Holdings has purchased the 29,200-sq.-ft. Lebanon Ohio Center, an unanchored strip retail complex, in Frisco, Texas. The seller was LandPlan Development Corporation. The price was not disclosed.

The center is currently 90% occupied. Tenants include CrossFit Remedy and Arts and Technology Institute. CBRE’s Dallas office represented the seller in the transaction and conducted the financial analysis.

MasterCard is in the process of acquiring Pinpoint Pty. Ltd., an Australian provider of loyalty and rewards services to financial institutions across the Asia Pacific region. The transaction is expected to close in the second quarter of 2014.

Pinpoint was founded in 1984. Headquartered in Sydney, it has a growing footprint across the region into markets such as China, Hong Kong, India, Taiwan and Japan. Its customer base includes financial institutions and merchants.

Nike has elected Michelle A. Peluso to the company’s board of directors. Peluso is CEO of Gilt, an online shopping destination offering its members top designer labels at up to 60% off retail.

Post Holdings plans to acquire Michael Foods and its related entities for $2.45 billion. The acquisition is expected to be completed in the second quarter of 2014, subject to customary closing conditions.

Michael Foods is a leading packaged goods company providing value-added food products and service solutions to customers in the foodservice, retail and food ingredient channels. The company holds leading market positions in each of its three segments and produces a broad range of value-added egg products, potato products and cheese and dairy-case foods.