Vornado Realty Trust (NYSE: VNO) ("Vornado") is a fully-integrated real estate investment trust (REIT). Vornado is one of the largest owners and managers of commercial real estate in the United States with a portfolio of over 100 million square feet, primarily located in the New York and Washington, DC areas. Vornado's core businesses include New York; Washington, DC; and, Retail Properties primarily in the northeast states, California and Puerto Rico.
Multifamily |
Office |
Retail |
Hotels |
Pref/Mezz equity |
JV partnership |
Acquisition/Fee Simple |
Operating company/entity |
Performing/Non-performing loans |
Multi-property portfolios |
Steven Roth, 72, is Chairman of the Board and Chief Executive Officer of Vornado Realty Trust. Mr. Roth has been Chairman of the Board since May 1981. He was the Chief Executive Officer from May 1981 through May 2009 and was reappointed on April 15, 2013. Mr. Roth is the co-founder and Managing General Partner of Interstate Properties and Chairman and Chief Executive Officer of Alexander's Inc. From 2011 until September 2013, Mr. Roth was a director of J. C. Penney Company, Inc. In addition, from 2005 until February 2011, Mr. Roth was a director of Toys "R" Us, Inc. Barron's Magazine, in its March 2005, 2006 and 2007 issues, named Mr. Roth one of the World's Thirty Most Respected CEO's. In its January 2006 issue on the Best CEO's in America, Institutional Investor magazine designated Mr. Roth as the top CEO in the REIT industry. Mr. Roth was the 2002 - 2003 Chair of the National Association of Real Estate Investment Trusts (NAREIT). Mr. Roth is a Trustee of Dartmouth College and from 1981 through 1987, he served on the Board of the Amos Tuck School, including endowing a professorship there and was the principal donor to the Roth Center for Jewish Life at Dartmouth. He is currently a Trustee of the Intrepid Museum Foundation. Mr. Roth is a graduate of DeWitt Clinton High School in the Bronx. He received his AB degree from Dartmouth College in 1962 and an MBS degree with Highest Distinction from Dartmouth's Amos Tuck School of Business Administration in 1963.
Responsible for real estate and corporate acquisitions and financings, Mr. Franco joined Vornado in 2010 from Morgan Stanley, where he was a Managing Director and served as Head of the Morgan Stanley Real Estate Funds (MSREF) in the U.S., its flagship real estate investment opportunity fund. He joined the firm in 1990, playing an integral role in the development and growth of its real estate investing platform and leading many of its most significant investments in the U.S. Over the course of his career, he has acquired over $18 billion of real estate, including non-performing loan portfolios from the RTC and private banks, several public REITs, and a wide variety of commercial and residential properties. Mr. Franco graduated Cum Laude from The Wharton School at the University of Pennsylvania with a Bachelor of Science in Economics with a Concentration in Finance. He is a member of the Urban Land Institute and is also involved in several private civic organizations.