Vornado Realty Trust 2008 Annual Report
VORNADO REALTY TRUST 2008 ANNUAL REPORT VORNADO COMPANY PROFILE Vornado Realty Trust is a fully-integrated real estate investment trust. The Company owns: Office Properties: • 28 office properties aggregating approximately 16.1 million square feet in Midtown Manhattan; • 84 office properties aggregating approximately 17.7 million square feet in the Washington, DC/Northern Virginia area; • A 70% controlling interest in 555 California Street, a three-building complex aggregating 1.8 million square feet in San Francisco’s financial district; Retail Properties: • 176 retail properties primarily in Manhattan, New York, New Jersey, Pennsylvania, Washington, DC/Northern Virginia area and Puerto Rico aggregating approximately 21.9 million square feet; Merchandise Mart Properties: • 8.9 million square feet of showroom and office space, including the 3.5 million square foot Merchandise Mart in Chicago; Other Real Estate Investments: • 32.5% of the common stock of Alexander’s Inc. (NYSE:ALX); • the Hotel Pennsylvania in New York; • 32.7% interest in Toys “R” Us, Inc.; • mezzanine loans on real estate; and • other investments and marketable securities. Vornado’s common shares are listed on the New York Stock Exchange and are traded under the symbol: VNO. FINANCIAL HIGHLIGHTS Year Ended December 31, 2008 2007 Revenues $ 2,697,051,000 $ 2,410,516,000 EBITDA (before minority interest and gains on sale of real estate): * $ 1,731,146,000 $ 2,074,631,000 Net income $ 337,952,000 $ 511,729,000 Net income per share⎯basic $ 2.20 $ 3.37 Net income per share⎯diluted
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