Friday, October 6th 3PM-5PM
Tatiana Melamed (Analyst)
Education Topic: Case Study - Developing the New York City Skyline
Vornado Realty Trust is a preeminent owner, manager and developer of office and retail assets.
Vornado’s portfolio is concentrated in the nation’s key market — New York City — along with the premier asset in both Chicago and San Francisco. Vornado Realty Trust (NYSE:VNO) is a fully-integrated Real Estate Investment Trust (REIT).
The Company owns all or portions of:
20.2 million square feet of Manhattan office space in 36 properties.
2.7 million square feet of Manhattan street retail space in 70 properties.
2,004 units in twelve residential properties.
The 1,700 room Hotel Pennsylvania located on Seventh Avenue at 33rd Street in the heart of the Penn Plaza district.
A 32.4% interest in Alexander’s, Inc. (NYSE:ALX) which owns seven properties in the greater New York metropolitan area including 731 Lexington Avenue, the 1.3 million square foot Bloomberg, L.P. headquarters building.
Signage throughout Penn Plaza and Times Square.
BMS, our wholly owned subsidiary, which provides cleaning and security services for our buildings and third parties, employing 2,540 associates.
A 70% controlling interest in 555 California Street, a three-building office complex in San Francisco’s financial district aggregating 1.8 million square feet, known as the Bank of America Center.
The 3.7 million square foot Mart ("theMART") in Chigaco.
A 25% interest in Vornado Capital Partners, our real estate fund. We are the general partner and investment manager of the fund. The fund’s investment period ended in July 2013.
A 32.5% interest in Toys "R" Us, Inc.; a 4.8% interest in Urban Edge Properties (NYSE:UE); an 8.0% interest in Pennsylvania Real Estate Investment Trust (NYSE:PEI); and a 7.8% interest in Lexington Realty Trust (NYSE:LXP).
A 46.2% interest in 4 office buildings totaling 736,000 SF and a 43.7% interest in 2 apartment buildings totaling 196 units in Rosslyn Plaza, Arlington, VA.
220 Central Park South, a 950 foot tall residential luxury for-sale condominium tower containing 400,000 salable square feet, currently under construction for 2018 delivery.
Vornado Realty Trust is seeking a summer intern to join its Acquisitions & Capital Markets group in New York. The individual will work closely with senior management to underwrite potential acquisitions and perform analysis related to the firm’s capital markets activities. Key responsibilities will include:
Underwriting potential corporate and asset acquisitions
Preparation of ARGUS and Excel models to support valuation and structuring strategies
Supporting analysis on secured and unsecured debt acquisitions
Compilation of loan request books and other financing materials for portfolio properties
Communicating with executive management regarding ongoing project status
Candidate for undergraduate degree (BBA, Economics, or related major) and a strong record of academic performance
Experience utilizing Excel to analyze transactions
Excellent verbal and written communication skills
Demonstrated ability to work under pressure