<PAGE> 1
As filed with the Securities and Exchange Commission on February 9, 1999
Exhibit Index on Page 5
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): November 12, 1998
Commission File Number: 000-22685
VORNADO REALTY L.P.
(Exact name of registrant as specified in its charter)
DELAWARE 13-3925979
(State or other jurisdiction of incorporation) (I.R.S. employer
identification number)
PARK 80 WEST, PLAZA II, SADDLE BROOK, NEW JERSEY 07663
(Address of principal executive offices) (Zip Code)
(201) 587-1000
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
<PAGE> 2
ITEMS 1 - 4. NOT APPLICABLE.
ITEM 5. OTHER EVENTS.
ISSUANCE OF ADDITIONAL SERIES D-1 PREFERRED UNITS BY VORNADO REALTY L.P.
- ------------------------------------------------------------------------
On December 22, 1998, Vornado Realty L.P., a Delaware limited partnership
through which Vornado Realty Trust conducts its business (the "Operating
Partnership"), sold $27.5 million of Series D-1 Preferred Units of limited
partnership interest (the "Series D-1 Preferred Units") to an institutional
investor in a private placement, resulting in net proceeds of approximately
$26.8 million. As previously reported, on November 12, 1998, the Operating
Partnership sold $60 million of Series D-1 Preferred Units to the same
institutional investor in a private placement, resulting in net proceeds of
approximately $58.5 million.
The Series D-1 Preferred Units are perpetual and may be redeemed without
penalty in whole or in part by the Operating Partnership at any time on or
after November 12, 2003 for cash equal to $25 per Series D-1 Preferred Unit and
any accumulated and unpaid distributions owing in respect of the Series D-1
Preferred Units being redeemed. At any time on or after the Series D-1
Effective Date (as defined below), holders of Series D-1 Preferred Units will
have the right to have their Series D-1 Preferred Units redeemed by the
Operating Partnership for (i) cash equal to $25 for each Series D-1 Preferred
Unit and any accumulated and unpaid distributions owing in respect of the
Series D-1 Preferred Units being redeemed or (ii) at the option of Vornado
Realty Trust, one Series D-1 8.5% Cumulative Redeemable Preferred Share of
Beneficial Interest, no par value (the "Series D-1 Preferred Shares"), of
Vornado Realty Trust for each Series D-1 Preferred Unit redeemed. The "Series
D-1 Effective Date" means the sooner of (i) November 12, 2008, (ii) the first
business day following any period in which the Operating Partnership has failed
to make full distributions in respect of the Series D-1 Preferred Units for six
quarters, whether or not consecutive, (iii) the first business day following
receipt by the holder of the Series D-1 Preferred Units of either notice from
Vornado Realty Trust, or an opinion of counsel, that the Operating Partnership
is or likely is a "publicly-traded partnership," as defined in the Internal
Revenue Code of 1986, as amended, and (iv) the first business day following the
date on which the institutional investor to which the Series D-1 Preferred
Units were issued reasonably determines that there is an imminent and
substantial risk that the Series D-1 Preferred Units held by it represent or
will represent 19.5% or more of the total profits or capital interests in the
Operating Partnership for a taxable year.
The Series D-1 Preferred Shares will be perpetual and will be redeemable
at the option of Vornado Realty Trust at any time on and after November 12,
2003 for cash equal to $25 per Series D-1 Preferred Share plus dividends
accumulated and unpaid prior to the date of redemption. No Series D-1 Preferred
Shares are now outstanding. Vornado Realty Trust and the purchaser of the
Series D-1 Preferred Units have entered into a registration rights agreement,
as amended, with respect to the Series D-1 Preferred Shares that may be issued
upon redemption of Series D-1 Preferred Units.
-2-
<PAGE> 3
ITEM 6. NOT APPLICABLE.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
The following exhibits are furnished in accordance with the provisions of
Item 601 of Regulation S-K:
Exhibit No. Description
- ----------- -------------
3.1 Articles Supplementary to Declaration of Trust of
Vornado Realty Trust with respect to the Series D-1
Preferred Shares, dated November 12, 1998, as filed
with the State Department of Assessments and Taxation
of Maryland on November 25, 1998 (incorporated by
reference to Exhibit 3.1 to the Current Report on Form
8-K of Vornado Realty Trust, dated November 12, 1998)
3.2 Articles Supplementary to Declaration of Trust of
Vornado Realty Trust with respect to the Series D-1
Preferred Shares, dated December 22, 1998, as filed
with the State Department of Assessments and Taxation
of Maryland on January 12, 1999
3.3 Third Amendment to Second Amended and Restated
Agreement of Limited Partnership of Vornado Realty
L.P., dated as of November 12, 1998 (incorporated by
reference to Exhibit 3.2 to the Current Report on Form
8-K of Vornado Realty Trust, dated November 12, 1998)
3.4 Exhibit A, dated as of December 22, 1998, to Second
Amended and Restated Agreement of Limited Partnership
of Vornado Realty L.P.
99.1 Press release of Vornado Realty Trust, dated November
12, 1998 (incorporated by reference to Exhibit 99.1 to
the Current Report on Form 8-K of Vornado Realty
Trust, dated November 12, 1998)
99.2 Press release of Vornado Realty Trust, dated December
22, 1998
ITEM 8. NOT APPLICABLE.
-3-
<PAGE> 4
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
VORNADO REALTY L.P.
(Registrant)
By: Vornado Realty Trust,
as general partner
By: /s/ Irwin Goldberg
--------------------------
Name: Irwin Goldberg
Title: Vice President,
Chief Financial Officer
Dated: February 9, 1999
-4-
<PAGE> 5
INDEX TO EXHIBITS
Exhibit
No. Description
- ------- -----------
3.1 Articles Supplementary to Declaration of Trust of Vornado Realty
Trust with respect to the Series D-1 Preferred Shares, dated as of
November 12, 1998, as filed with the State Department of Assessments
and Taxation of Maryland on November 25, 1998 (incorporated by
reference to Exhibit 3.1 to the Current Report on Form 8-K of Vornado
Realty Trust, dated November 12, 1998)
3.2 Articles Supplementary to Declaration of Trust of Vornado Realty
Trust with respect to the Series D-1 Preferred Shares, dated as of
December 22, 1998, as filed with the State Department of Assessments
and Taxation of Maryland on January 12, 1999.
3.3 Third Amendment to Second Amended and Restated Agreement of Limited
Partnership of Vornado Realty L.P., dated as of November 12, 1998
(incorporated by reference to Exhibit 3.2 to the Current Report on
Form 8-K of Vornado Realty Trust, dated November 12, 1998)
3.4 Exhibit A, dated as of December 22, 1998, to Second Amended and
Restated Agreement of Limited Partnership of Vornado Realty L.P.
99.1 Press release of Vornado Realty Trust, dated November 12, 1998
(incorporated by reference to Exhibit 99.1 to the Current Report on
Form 8-K of Vornado Realty Trust, dated November 12, 1998
99.2 Press release of Vornado Realty Trust, dated December 22, 1998
-5-
<PAGE> 1
Exhibit 3.2
VORNADO REALTY TRUST
ARTICLES SUPPLEMENTARY
SERIES D-1 8.5% CUMULATIVE REDEEMABLE PREFERRED SHARES
(liquidation preference $25.00 per share)
Vornado Realty Trust, a Maryland real estate investment trust (the
"Trust"), hereby certifies to the State Department of Assessments and Taxation
of Maryland (the "Department") that:
FIRST: Under a power contained in Article VI of the Amended and
Restated Declaration of Trust of the Trust, as amended (the "Declaration"), the
Board of Trustees of the Trust (the "Board of Trustees"), by informal action in
lieu of a special meeting, classified and designated 1,100,000 shares (the
"Shares") of the Preferred Stock (as defined in the Declaration), as shares of
Series D-1 8.5% Cumulative Redeemable Preferred Shares of Beneficial Interest,
liquidation preference $25.00 per share ("Series D-1 Preferred Shares"), with
the same preferences and other rights, voting powers, restrictions, limitations
as to dividends and other distributions, qualifications and terms and conditions
of redemption as are set forth in the Articles Supplementary of the Trust,
relating to the Series D-1 8.5% Cumulative Redeemable Shares of Beneficial
Interest, liquidation preference $25.00 per share, dated as of November 12, 1998
and filed with the Department on November 25, 1998, which upon any restatement
of the Declaration, shall be deemed to be part of Article VI of the Declaration,
with any necessary or appropriate changes in the enumeration or lettering of the
sections or subsections thereof.
SECOND: The Shares have been classified and designated by the Board of
Trustees under the authority contained in the Declaration.
THIRD: These Articles Supplementary have been approved by the Board of
Trustees in the manner and by the vote required by law.
FOURTH: Each of the undersigned acknowledges these Articles
Supplementary to be the trust act of the Trust and, as to all matters or facts
required to be verified under oath, the undersigned acknowledges that to the
best of his or her knowledge, information and belief, these matters and facts
are true in all material respects and that this statement is made under the
penalties for perjury.
<PAGE> 2
IN WITNESS WHEREOF, the Trust has caused these Articles Supplementary to
be executed under seal in its name and on its behalf by its Vice President and
Chief Financial Officer and attested to by one of its Assistant Secretaries on
this 22nd day of December, 1998.
VORNADO REALTY TRUST
By: /s/ Irwin Goldberg
------------------------------
Irwin Goldberg
Vice President and Chief
Financial Officer
[Seal]
ATTEST:
/s/ Larry Portal
------------------------------
Larry Portal
Assistant Secretary
-2-
<PAGE> 1
Exhibit 3.4
EXHIBIT A (12/22/98) - ADDITIONAL UNITS ISSUED FOR
GREENE STREET 1998 EXCHANGE FUND, LP
VORNADO REALTY L.P.
PARTNERS AND PARTNERSHIP INTERESTS
<TABLE>
<CAPTION>
CLASS OF UNITS
--------------------------------------------------------------------
SERIES A VALUE PERCENTAGE SERIES B-1 VALUE PERCENTAGE
PREFERRED OF OF PREFERRED OF OF
UNITS SERIES A SERIES A UNITS SERIES B-1 SERIES B-1
--------------------------------- ---------------------------------
<S> <C> <C> <C> <C> <C> <C>
Vornado Realty Trust 5,789,239 $297,508,992 100.0000%
Vornado Realty Trust
Vornado Finance Corp
Vornado Investment Corporation
40 East 14 Realty Associates
General Partnership
825 Seventh Avenue Holding Corporation
Menands Holdings Corporation
Two Guys From Harrison, N.Y., Inc.
Washington Design Center, L.L.C. 200,000 $10,000,000 22.23%
Merchandise Mart Owners, L.L.C. 699,566 $34,978,300 77.77%
Merchandise Mart Enterprises, L.L.C.
World Trade Center Chicago, L.L.C.
Greene Street 1998 Exchange Fund, L.P.
Jacob H. Froelich, Jr.
S.D. Phillips
George W. Lyles
Canoe House Partners, LLC
Roaring Gap Limited Partnership
Phillips Property Company, LLC
The Mendik Partnership, L.P.
Mendik Realty Company, Inc.
FW / Mendik REIT, L.L.C. (2)
Mendik RELP Corp.
2750 Associates
Abrams, Trust U/W/O Ralph
Adler, Robert
Alpert, Vicki
Ambassador Construction Company, Inc.
Aschendorf-Shasha, Ellen
Ash, Herbert
Aubert, Trust FBO Lysa
UWO Barbara Schwartz
Aubert, Trust FBO Lysa
UWO Ellis Schwartz
Barr, Thomas
Barkin, Leonard
Batkin, Nancy
Batkin, Nancy 1998 Trust u/a/d 5/11/98
Berenson, David
Berenson, Joan
Berenson, Richard
Berenson, Robert
Berger, Alice C.
Bianculli, Louis
Bierman, Jacquin
Blumenthal, Joel Marie
Braverman, Madlyn
Bonk, Chris
Carb, Sally
Carney, Thomas
Chambers, Robert
CHO Enterprises
Dembner, Shirley
Dembner, Shirley UGMA
for Lindsey Dembner
Doner, Max
Downey, Michael
Dryfoos, Jacqueline
Dubrowski, Raymond
Evans, Ben
Field, Walter L.
Jesse Fierstein & Co.
Fischer, Alan A.
Freedman, Robert
Gershon, Estate of Murray
Getz, Howard
Getz, Sandra
Getz, Sandra & Howard
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
CLASS OF UNITS
--------------------------------------------------------------------
SERIES B-2 VALUE PERCENTAGE SERIES C-1 VALUE PERCENTAGE
PREFERRED OF OF PREFERRED OF OF
UNITS SERIES B-2 SERIES B-2 UNITS SERIES C-1 SERIES C-1
--------------------------------- -------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Vornado Realty Trust
Vornado Realty Trust
Vornado Finance Corp
Vornado Investment Corporation
40 East 14 Realty Associates
General Partnership
825 Seventh Avenue Holding Corporation
Menands Holdings Corporation
Two Guys From Harrison, N.Y., Inc.
Washington Design Center, L.L.C. 100,000 $5,000,000 22.23%
Merchandise Mart Owners, L.L.C. 349,783 $17,489,150 77.77%
Merchandise Mart Enterprises, L.L.C.
World Trade Center Chicago, L.L.C.
Greene Street 1998 Exchange Fund, L.P.
Jacob H. Froelich, Jr. 150,067 $5,352,890 20.0648%
S.D. Phillips 9,976 $355,844 1.3338%
George W. Lyles 70,044 $2,498,469 9.3653%
Canoe House Partners, LLC 200,090 $7,137,210 26.7531%
Roaring Gap Limited Partnership 290,158 $10,349,936 38.7957%
Phillips Property Company, LLC 27,577 $983,672 3.6872%
The Mendik Partnership, L.P.
Mendik Realty Company, Inc.
FW / Mendik REIT, L.L.C. (2)
Mendik RELP Corp.
2750 Associates
Abrams, Trust U/W/O Ralph
Adler, Robert
Alpert, Vicki
Ambassador Construction Company, Inc.
Aschendorf-Shasha, Ellen
Ash, Herbert
Aubert, Trust FBO Lysa
UWO Barbara Schwartz
Aubert, Trust FBO Lysa
UWO Ellis Schwartz
Barr, Thomas
Barkin, Leonard
Batkin, Nancy
Batkin, Nancy 1998 Trust u/a/d 5/11/98
Berenson, David
Berenson, Joan
Berenson, Richard
Berenson, Robert
Berger, Alica C.
Bianculli, Louis
Bierman, Jacquin
Blumenthal, Joel Marie
Braverman, Madlyn
Bonk, Chris
Carb, Sally
Carney, Thomas
Chambers, Robert
CHO Enterprises
Dembner, Shirley
Dembner, Shirley UGMA
for Lindsey Dembner
Doner, Max
Downey, Michael
Dryfoos, Jacqueline
Dubrowski, Raymond
Evans, Ben
Field, Walter L.
Jesse Fierstein & Co.
Fischer, Alan A.
Freedman, Robert
Gershon, Estate of Murray
Getz, Howard
Getz, Sandra
Getz, Sandra & Howard
</TABLE>
<PAGE> 3
<TABLE>
<CAPTION>
CLASS OF UNITS
-----------------------------------
SERIES D-1 VALUE PERCENTAGE
PREFERRED OF OF
UNITS SERIES D-1 SERIES D-1
---------------------------------
<S> <C> <C> <C>
Vornado Realty Trust
Vornado Realty Trust
Vornado Finance Corp
Vornado Investment Corporation
40 East 14 Realty Associates
General Partnership
825 Seventh Avenue Holding Corporation
Menands Holdings Corporation
Two Guys From Harrison, N.Y., Inc.
Washington Design Center, L.L.C.
Merchandise Mart Owners, L.L.C.
Merchandise Mart Enterprises, L.L.C.
World Trade Center Chicago, L.L.C.
Greene Street 1998 Exchange Fund, L.P. 3,500,000 87,500,000 100.00%
Jacob H. Froelich, Jr.
S.D. Phillips
George W. Lyles
Canoe House Partners, LLC
Roaring Gap Limited Partnership
Phillips Property Company, LLC
The Mendik Partnership, L.P.
Mendik Realty Company, Inc.
FW / Mendik REIT, L.L.C. (2)
Mendik RELP Corp.
2750 Associates
Abrams, Trust U/W/O Ralph
Adler, Robert
Alpert, Vicki
Ambassador Construction Company, Inc.
Aschendorf-Shasha, Ellen
Ash, Herbert
Aubert, Trust FBO Lysa
UWO Barbara Schwartz
Aubert, Trust FBO Lysa
UWO Ellis Schwartz
Barr, Thomas
Barkin, Leonard
Batkin, Nancy
Batkin, Nancy 1998 Trust u/a/d 5/11/98
Berenson, David
Berenson, Joan
Berenson, Richard
Berenson, Robert
Berger, Alica C.
Bianculli, Louis
Bierman, Jacquin
Blumenthal, Joel Marie
Braverman, Madlyn
Bonk, Chris
Carb, Sally
Carney, Thomas
Chambers, Robert
CHO Enterprises
Dembner, Shirley
Dembner, Shirley UGMA
for Lindsey Dembner
Doner, Max
Downey, Michael
Dryfoos, Jacqueline
Dubrowski, Raymond
Evans, Ben
Field, Walter L.
Jesse Fierstein & Co.
Fischer, Alan A.
Freedman, Robert
Gershon, Estate of Murray
Getz, Howard
Getz, Sandra
Getz, Sandra & Howard
</TABLE>
<PAGE> 4
<TABLE>
<CAPTION>
CLASS OF UNITS
-------------------------------------------------------------------------------
COMMON UNITS TOTAL VALUE PERCENTAGE
--------------------------------------- COMMON COMMON COMMON
A C D E UNITS UNITS UNITS
-------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Vornado Realty Trust
Vornado Realty Trust 43,527,559 43,527,559 $1,552,628,030 47.3996%
Vornado Finance Corp 35,282,694 35,282,694 $1,258,533,695 38.4213%
Vornado Investment Corporation 3,666,666 3,666,666 $130,789,976 3.9928%
40 East 14 Realty Associates 0 $0 0.0000%
General Partnership 1,639,278 1,639,278 $58,473,046 1.7851%
825 Seventh Avenue Holding Corporation 235,516 235,516 $8,400,856 0.2565%
Menands Holdings Corporation 536,524 536,524 $19,137,811 0.5843%
Two Guys From Harrison, N.Y., Inc. 180,890 180,890 $6,452,346 0.1970%
Washington Design Center, L.L.C. 65,807 65,807 $2,347,336 0.0717%
Merchandise Mart Owners, L.L.C. 0 $0 0.0000%
Merchandise Mart Enterprises, L.L.C. 395,967 395,967 $14,124,143 0.4312%
World Trade Center Chicago, L.L.C. 603,948 603,948 $21,542,825 0.6577%
Greene Street 1998 Exchange Fund, L.P. 0 $0 0.0000%
Jacob H. Froelich, Jr. 202,411 202,411 $ 7,220,000 0.2204%
S.D. Phillips 0 0 $0 0.0000%
George W. Lyles 0 0 $0 0.0000%
Canoe House Partners, LLC 0 0 $0 0.0000%
Roaring Gap Limited Partnership 0 0 $0 0.0000%
Phillips Property Company, LLC 0 0 $0 0.0000%
The Mendik Partnership, L.P. 2,512,023 2,512,023 $89,603,860 2.7355%
Mendik Realty Company, Inc. 161 161 $5,743 0.0002%
FW / Mendik REIT, L.L.C. (2) 486,540 486,540 $17,354,882 0.5298%
Mendik RELP Corp. 846 846 $30,177 0.0009%
2750 Associates 2,704 2,704 $96,452 0.0029%
Abrams, Trust U/W/O Ralph 7,244 7,244 $258,393 0.0079%
Adler, Robert 2,496 2,496 $89,032 0.0027%
Alpert, Vicki 5,228 5,228 $186,483 0.0057%
Ambassador Construction Company, Inc. 37,178 37,178 $1,326,139 0.0405%
Aschendorf-Shasha, Ellen 1,710 1,710 $60,996 0.0019%
Ash, Herbert 154 154 $5,493 0.0002%
Aubert, Trust FBO Lysa 0 $0 0.0000%
UWO Barbara Schwartz 4,278 4,278 $152,596 0.0047%
Aubert, Trust FBO Lysa 0 $0 0.0000%
UWO Ellis Schwartz 256 256 $9,132 0.0003%
Barr, Thomas 1,844 1,844 $65,775 0.0020%
Barkin, Leonard 962 962 $34,315 0.0010%
Batkin, Nancy 0 0 $0 0.0000%
Batkin, Nancy 1998 Trust u/a/d 5/11/98 108 6,338 6,446 $229,929 0.0070%
Berenson, David 1,034 1,034 $36,883 0.0011%
Berenson, Joan 1,382 1,382 $49,296 0.0015%
Berenson, Richard 842 842 $30,034 0.0009%
Berenson, Robert 1,762 1,762 $62,851 0.0019%
Berger, Alica C. 374 374 $13,341 0.0004%
Bianculli, Louis 5,604 5,604 $199,895 0.0061%
Bierman, Jacquin 5,376 5,376 $191,762 0.0059%
Blumenthal, Joel Marie 154 154 $5,493 0.0002%
Braverman, Madlyn 35,032 35,032 $1,249,591 0.0381%
Bonk, Chris 75,344 75,344 $2,687,520 0.0820%
Carb, Sally 1,793 1,793 $63,956 0.0020%
Carney, Thomas 1,419 1,419 $50,616 0.0015%
Chambers, Robert 145 7,961 8,106 $289,141 0.0088%
CHO Enterprises 5,364 5,364 $191,334 0.0058%
Dembner, Shirley 145 78 223 $7,954 0.0002%
Dembner, Shirley UGMA 0 $0 0.0000%
for Lindsey Dembner 3,462 3,462 $123,490 0.0038%
Doner, Max 3,364 3,364 $119,994 0.0037%
Downey, Michael 83,226 83,226 $2,968,871 0.0906%
Dryfoos, Jacqueline 962 962 $34,315 0.0010%
Dubrowski, Raymond 2,304 2,304 $82,184 0.0025%
Evans, Ben 104 104 $3,710 0.0001%
Field, Walter L. 1,680 1,680 $59,926 0.0018%
Jesse Fierstein & Co. 4,045 4,045 $144,285 0.0044%
Fischer, Alan A. 3,364 3,364 $119,994 0.0037%
Freedman, Robert 5,770 5,770 $205,816 0.0063%
Gershon, Estate of Murray 10,494 10,494 $374,321 0.0114%
Getz, Howard 333 333 $11,878 0.0004%
Getz, Sandra 7,328 7,328 $261,390 0.0080%
Getz, Sandra & Howard 748 748 $26,681 0.0008%
</TABLE>
<PAGE> 5
<TABLE>
<CAPTION>
TOTAL TOTAL PERCENTAGE
UNITS VALUE INTEREST
---------- -------------- --------
<S> <C> <C> <C>
Vornado Realty Trust 90,858,366(1) $3,331,924,752 88.7385%
Vornado Realty Trust
Vornado Finance Corp
Vornado Investment Corporation
40 East 14 Realty Associates
General Partnership
825 Seventh Avenue Holding Corporation
Menands Holdings Corporation
Two Guys From Harrison, N.Y., Inc.
Washington Design Center, L.L.C. 365,807 $17,347,336 0.4620%
Merchandise Mart Owners, L.L.C. 1,049,349 $52,467,450 1.3974%
Merchandise Mart Enterprises, L.L.C. 395,967 $14,124,143 0.3762%
World Trade Center Chicago, L.L.C. 603,948 $21,542,825 0.5737%
Greene Street 1998 Exchange Fund, L.P. 3,500,000 $87,500,000 2.3304%
Jacob M. Froelich, Jr. 352,478 $12,572,890 0.3349%
S.D. Phillips 9,976 $355,844 0.0095%
George W. Lyles 70,044 $2,498,469 0.0665%
Canoe House Partners, LLC 200,090 $7,137,210 0.1901%
Roaring Gap Limited Partnership 290,158 $10,349,936 0.2756%
Phillips Property Company, LLC 27,577 983,672 0.0262%
The Mendik Partnership, L.P. 2,512,023 $89,603,860 2.3864%
Mendik Realty Company, Inc. 161 $5,743 0.0002%
FW / Mendik REIT, L.L.C. (2) 486,540 $17,354,882 0.4622%
Mendik RELP Corp. 846 $30,177 0.0008%
2750 Associates 2,704 $96,452 0.0026%
Abrams, Trust U/W/O Ralph 7,244 $258,393 0.0069%
Adler, Robert 2,496 $89,032 0.0024%
Alpert, Vicki 5,228 $186,483 0.0050%
Ambassador Construction Company, Inc. 37,178 $1,326,139 0.0353%
Aschendorf-Shasha, Ellen 1,710 $60,996 0.0016%
Ash, Herbert 154 $5,493 0.0001%
Aubert, Trust FBO Lysa 0 $0 0.0000%
UWO Barbara Schwartz 4,278 $152,596 0.0041%
Aubert, Trust FBO Lysa 0 $0 0.0000%
UWO Ellis Schwartz 256 $9,132 0.0002%
Barr, Thomas 1,844 $65,775 0.0018%
Barkin, Leonard 962 $34,315 0.0009%
Batkin, Nancy 0 $0 0.0000%
Batkin, Nancy 1998 Trust u/a/d 5/11/98 6,446 $229,929 0.0061%
Berenson, David 1,034 $36,883 0.0010%
Berenson, Joan 1,382 $49,296 0.0013%
Berenson, Richard 842 $30,034 0.0008%
Berenson, Robert 1,762 $62,851 0.0017%
Berger, Alice C. 374 $13,341 0.0004%
Bianculli, Louis 5,604 $199,895 0.0053%
Bierman, Jacquin 5,376 $191,762 0.0051%
Blumenthal, Joel Marie 154 $5,493 0.0001%
Braverman, Madlyn 35,032 $1,249,591 0.0333%
Bonk, Chris 75,344 $2,687,520 0.0716%
Carb, Sally 1,793 $63,956 0.0017%
Carney, Thomas 1,419 $50,616 0.0013%
Chambers, Robert 8,106 $289,141 0.0077%
CHO Enterprises 5,364 $191,334 0.0051%
Dembner, Shirley 223 $7,954 0.0002%
Dembner, Shirley UGMA 0 $0 0.0000%
for Lindsey Dembner 3,462 $123,490 0.0033%
Doner, Max 3,364 $119,994 0.0032%
Downey, Michael 83,226 $2,968,671 0.0791%
Dryfoos, Jacqueline 962 $34,315 0.0009%
Dubrowski, Raymond 2,304 $82,184 0.0022%
Evans, Ben 104 $3,710 0.0001%
Field, Walter L. 1,680 $59,926 0.0016%
Jesse Fierstein & Co. 4,045 $144,285 0.0038%
Fischer, Alan A. 3,364 $119,994 0.0032%
Freedman, Robert 5,770 $205,816 0.0055%
Gershon, Estate of Murray 10,494 $374,321 0.0100%
Getz, Howard 333 $11,878 0.0003%
Getz, Sandra 7,328 $261,390 0.0070%
Getz, Sandra & Howard 748 $26,681 0.0007%
</TABLE>
<PAGE> 6
<TABLE>
<CAPTION>
Class of Units
---------------------------------------------------------------------------------------------
Common Units
------------------------------------------------------------
A C D E Total Value Percentage Total Total Percentage
Common Common Common Units Value Interest
Units Units Units
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Gold, Frederica 414 414 $14,767 0.0005% 414 $14,767 0.0004%
Ginsberg, Benedict 932 932 $33,244 0.0010% 932 $33,244 0.0009%
Goldberg, Clarence 916 916 $32,674 0.0010% 916 $32,674 0.0009%
Goldring, Stanley 10,833 10,833 $386,413 0.0118% 10,833 $386,413 0.0103%
Goldschmidt, Beatrice 22,045 22,045 $786,345 0.0240% 22,045 $786,345 0.0209%
Goldschmidt, Charles 10,752 10,752 $383,524 0.0117% 10,752 $383,524 0.0102%
Goldschmidt, Edward 12,842 12,842 $458,074 0.0140% 12,842 $458,074 0.0122%
Goldschmidt, C. Trust U/A/D 7/11/90 8,389 8,389 $299,236 0.0091% 8,389 $299,236 0.0080%
Goldschmidt, Lawrence 92,454 92,454 $3,297,834 0.1007% 92,454 $3,297,834 0.0878%
Gorfinkle, Alaine 664 664 $23,685 0.0007% 664 $23,685 0.0006%
Gorfinkle, Lawrence 3,830 3,830 $136,616 0.0042% 3,830 $136,616 0.0036%
Gould Investors, L.P. 458,964 458,964 $16,371,246 0.4998% 458,964 $16,371,246 0.4360%
Green, Bernard 14,152 14,152 $504,802 0.0154% 14,152 $504,802 0.0134%
Green, Barbara 8,546 8,546 $304,836 0.0093% 8,546 $304,836 0.0081%
Greenbaum, David R. 701 701 $25,005 0.0008% 701 $25,005 0.0007%
Greif, Goldie 6,724 6,724 $239,845 0.0073% 6,724 $239,845 0.0064%
Gutenberg, Bernice 688 688 $24,541 0.0007% 688 $24,541 0.0007%
H L Silbert trustee U/W 19,976 19,976 $712,544 0.0218% 19,976 $712,544 0.0190%
of H A Goldman
Hagler, Philip 14,631 14,631 $521,888 0.0159% 14,631 $521,888 0.0139%
Harteveldt, Robert L. 5,128 5,128 $182,916 0.0056% 5,128 $182,916 0.0049%
Hirsch, Phillip J. 338 338 $12,056 0.0004% 338 $12,056 0.0003%
Hirsch, Judith 338 338 $12,056 0.0004% 338 $12,056 0.0003%
Hrusha, Alan 1,844 1,844 $65,775 0.0020% 1,844 $65,775 0.0018%
Hutner, Anne Trust F/B/O 4,610 4,610 $164,439 0.0050% 4,610 $164,439 0.0044%
Hutner, Estate of Irwin 11,334 11,334 $404,284 0.0123% 11,334 $404,284 0.0108%
INS Realty Associates 269,516 269,516 $9,613,636 0.2935% 269,516 $9,613,636 0.2560%
Fierstein Co. 28,415 28,415 $1,013,563 0.0309% 28,415 $1,013,563 0.0270%
Jaffe, Elizabeth 76 76 $2,711 0.0001% 76 $2,711 0.0001%
Jones, Hazel 2,496 2,496 $89,032 0.0027% 2,496 $89,032 0.0024%
Kaufman, Robert M. 338 338 $12,056 0.0004% 338 $12,056 0.0003%
Klein, Robin 3,364 3,364 $119,994 0.0037% 3,364 $119,994 0.0032%
Knatten Inc. 141,998 141,998 $5,065,069 0.1546% 141,998 $5,065,069 0.1349%
Knight, Laureine 10,242 10,242 $365,332 0.0112% 10,242 $365,332 0.0097%
Komaroff, Stanley 576 576 $20,546 0.0006% 576 $20,546 0.0005%
Kosloff, Andrea 78 78 $2,782 0.0001% 78 $2,782 0.0001%
Kosloff, Andrea UGMA 0 $0 0.0000% 0 $0 0.0000%
for Adam Kosloff 2,116 2,116 $75,478 0.0023% 2,116 $75,478 0.0020%
Kosloff, Andrea UGMA 0 $0 0.0000% 0 $0 0.0000%
for Justin Kosloff 2,116 2,116 $75,478 0.0023% 2,116 $75,478 0.0020%
Koven, Irving 0 0 $0 0.0000% 0 $0 0.0000%
Koven, Esther 11,208 11,208 $399,789 0.0122% 11,208 $399,789 0.0106%
Kowal, Myron as Custodian 0 $0 0.0000% 0 $0 0.0000%
for Andrew Kowal 748 748 $26,681 0.0008% 748 $26,681 0.0007%
Kramer, Saul 652 652 $23,257 0.0007% 652 $23,257 0.0006%
Kuhn, James D. 1,606 151,046 152,652 $5,445,097 0.1662% 152,652 $5,445,097 0.1450%
Kuhn, Leo 902 902 $32,174 0.0010% 902 $32,174 0.0009%
Kurshan, Herbert 2,496 2,496 $89,032 0.0027% 2,496 $89,032 0.0024%
Lauder, Leonard 4,660 4,660 $166,222 0.0051% 4,660 $166,222 0.0044%
Lauder, Ronald 4,660 4,660 $166,222 0.0051% 4,660 $166,222 0.0044%
Leff, Joseph 3,364 3,364 $119,994 0.0037% 3,364 $119,994 0.0032%
Leff, Valerie 3,364 3,364 $119,994 0.0037% 3,364 $119,994 0.0032%
Lefkowitz, Howard 414 414 $14,767 0.0005% 414 $14,767 0.0004%
LeRoy Partners 0 0 $0 0.0000% 0 $0 0.0000%
Liroff, Harriett 12,166 12,166 $433,961 0.0132% 12,166 $433,961 0.0116%
Liroff, Richard 1,532 1,532 $54,646 0.0017% 1,532 $54,646 0.0015%
Loewengart, Irene 1,664 1,664 $59,355 0.0018% 1,664 $59,355 0.0016%
Lovitz, David 2,244 2,244 $80,043 0.0024% 2,244 $80,043 0.0021%
M. Westport Associates 3,412 3,412 $121,706 0.0037% 3,412 $121,706 0.0032%
Maayan Partners 9,616 9,616 $343,003 0.0105% 9,616 $343,003 0.0091%
Marvin, Morton 914 914 $32,602 0.0010% 914 $32,602 0.0009%
Marvin, Suzanne 76 76 $2,711 0.0001% 76 $2,711 0.0001%
Maynard, Jean 2,304 2,304 $82,184 0.0025% 2,304 $82,184 0.0022%
Mazer, David 6,724 6,724 $239,845 0.0073% 6,724 $239,845 0.0064%
Mazer, Richard 6,724 6,724 $239,845 0.0073% 6,724 $239,845 0.0064%
Mendik, Bernard 13,162 13,162 $469,489 0.0143% 13,162 $469,489 0.0125%
Mendik, Susan 976 930 1,906 $67,987 0.0021% 1,906 $67,987 0.0018%
Mendik, Susan Trust 36 4,474 4,510 $160,872 0.0049% 4,510 $160,872 0.0043%
u/w/o Jean A. Batkin
L.C. Migdal & Ellin Kalmus, 0 $0 0.0000% 0 $0 0.0000%
Trustees of Trust "B"
u/w/o of Murray Silberstein 10,256 10,256 $365,832 0.0112% 10,256 $365,832 0.0097%
Mil Equities 13,334 13,334 $475,624 0.0145% 13,334 $475,624 0.0127%
Myers Group III, Inc. 17,641 17,641 $629,254 0.0192% 17,641 $629,254 0.0168%
Myers Group IV, Inc. 126,979 126,979 $4,529,341 0.1383% 126,979 $4,529,341 0.1206%
Nevas, Alan 1,636 1,636 $58,356 0.0018% 1,636 $58,356 0.0016%
Nevas, Leo 3,271 3,271 $116,677 0.0036% 3,271 $116,677 0.0031%
Nicardo Corporation 0 0 $0 0.0000% 0 $0 0.0000%
Novick, Lawrence 154 154 $5,493 0.0002% 154 $5,493 0.0001%
Oestreich, David A. 38,808 38,808 $1,384,281 0.0423% 38,808 $1,384,281 0.0369%
Oestreich, Joan E. 38,802 38,802 $1,384,067 0.0423% 38,802 $1,384,067 0.0369%
</TABLE>
<PAGE> 7
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
Series A Value Percentage Series B-1 Value Percentage Series B-2 Value Percentage
Preferred of of Preferred of of Preferred of of
Units Series A Series A Units Series B-1 Series B-1 Units Series B-2 Series B-2
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Oestreich, Sophy
Oppenheimer, Martin J.
Oppenheimer, Suzanne
Oshatz, Michael P.
Phillips, Family Trust UWO Edith
Phillips, Jonathan
Phillips, Lynn
Phillips, Estate of John D.
Plum Partners L.P.
Prentice Revocable Trust, 12/12/75
RCAY S.A.
Reichler, Richard
Reingold, Suzy
Roberts, H. Richard
Roche, Sara
Rolfe, Ronald
Rosenberg, Ilse
Rosenheim, Revocable Living
Trust of Edna
Rosenzveig, Abraham
Rubashkin, Martin
Rubin, Murray M.
Sahid, Joseph
Saunders, Paul
Saul, Andrew
Schacht, Ronald
Schwartz, Trust FBO Samuel
UWO Barbara Schwartz
Schwartz, Trust FBO Samuel
UWO Ellis Schwartz
Schwartz, Trust FBO Carolynn
UWO Barbara Schwartz
Schwartz, Trust FBO Carolynn
UWO Ellis Schwartz
Shapiro, Howard
Shapiro, Howard A.
Shapiro, Robert I.
Shasha, Alfred
Shasha, Alfred A. & Hanina
Shasha, Alfred & Hanina
Trustees UTA 6/8/94
Shasha, Robert Y.
Shasha-Kupchick, Leslie
Sheridan Family Partners, L.P.
Shine, William
Silberstein, John J.
Silbert, Harvey I.
Simons, Robert
Sims, David
Slaner, Estate of Alfred P.
Steiner, Phillip Harry
Steiner, Richard Harris
Tannenbaum, Bernard
Tannenbaum, Bernice
Tartikoff Living Trust
Winik, Trust U/W/O Carolyn
Watt, Emily
Wang, Kevin
Weissman, Sheila
Williams, John
---------------------------------- ----------------------------- -----------------------------
TOTAL 5,789,239 $297,508,992 100.0000% 899,566 $44,978,300 100.00% 449,783 $22,489,150 100.00%
---------------------------------- ----------------------------- -----------------------------
</TABLE>
<PAGE> 8
<TABLE>
Class of Units
- -----------------------------------------------------------------------------------------------------------
Series C-1 Value Percentage Series D-1 Value Percentage
Preferred of of Preferred of of
Units Series C-1 Series C-1 Units Series D-1 Series D-1
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Oestreich, Sophy
Oppenheimer, Martin J.
Oppenheimer, Suzanne
Oshatz, Michael P.
Phillips, Family Trust UWO Edith
Phillips, Jonathan
Phillips, Lynn
Phillips, Estate of John D.
Plum Partners L.P.
Prentice Revocable Trust, 12/12/75
RCAY S.A.
Reichler, Richard
Reingold, Suzy
Roberts, H. Richard
Roche, Sara
Rolfe, Ronald
Rosenberg, Ilse
Rosenheim, Revocable Living
Trust of Edna
Rosenzveig, Abraham
Rubashkin, Martin
Rubin, Murray M.
Sahid, Joseph
Saunders, Paul
Saul, Andrew
Schacht, Ronald
Schwartz, Trust FBO Samuel
UWO Barbara Schwartz
Schwartz, Trust FBO Samuel
UWO Ellis Schwartz
Schwartz, Trust FBO Carolynn
UWO Barbara Schwartz
Schwartz, Trust FBO Carolynn
UWO Ellis Schwartz
Shapiro, Howard
Shapiro, Howard A.
Shapiro, Robert I.
Shasha, Alfred
Shasha, Alfred A. & Hanina
Shasha, Alfred & Hanina
Trustees UTA 6/8/94
Shasha, Robert Y.
Shasha-Kupchick, Leslie
Sheridan Family Partners, L.P.
Shine, William
Silberstein, John J.
Silbert, Harvey I.
Simons, Robert
Sims, David
Slaner, Estate of Alfred P.
Steiner, Phillip Harry
Steiner, Richard Harris
Tannenbaum, Bernard
Tannenbaum, Bernice
Tartikoff Living Trust
Winik, Trust U/W/O Carolyn
Watt, Emily
Wang, Kevin
Weissman, Sheila
Williams, John
---------------------------------- ----------------------------------
TOTAL 747,912 $26,678,021 100.00% 3,500,000 $87,500,000 100.00%
---------------------------------- ----------------------------------
</TABLE>
<PAGE> 9
<TABLE>
Class of Units
---------------------------------------
Common Units
---------------------------------
A C D
- -------------------------------------------------------------------------------
<S> <C> <C> <C>
Oestreich, Sophy 4,610
Oppenheimer, Martin J. 338
Oppenheimer, Suzanne 338
Oshatz, Michael P. 30,180
Phillips, Family Trust UWO Edith 0
Phillips, Jonathan 3,364
Phillips, Lynn 3,364
Phillips, Estate of John D. 0
Plum Partners L.P. 0
Prentice Revocable Trust, 12/12/75 2,601
RCAY S.A.
Reichler, Richard 5,400
Reingold, Suzy 4,888
Roberts, H. Richard 39,426
Roche, Sara 3,364
Rolfe, Ronald 1,844
Rosenberg, Ilse 576
Rosenheim, Revocable Living
Trust of Edna 1,124
Rosenzveig, Abraham 3,744
Rubashkin, Martin 460
Rubin, Murray M. 3,364
Sahid, Joseph 1,844
Saunders, Paul 1,844
Saul, Andrew 20,196
Schacht, Ronald 988
Schwartz, Trust FBO Samuel
UWO Barbara Schwartz 4,278
Schwartz, Trust FBO Samuel
UWO Ellis Schwartz 256
Schwartz, Trust FBO Carolynn
UWO Barbara Schwartz 4,278
Schwartz, Trust FBO Carolynn
UWO Ellis Schwartz 256
Shapiro, Howard 932
Shapiro, Howard A. 336
Shapiro, Robert I. 3,364
Shasha, Alfred 5,770
Shasha, Alfred A. & Hanina 7,484
Shasha, Alfred & Hanina
Trustees UTA 6/8/94 13,676
Shasha, Robert Y. 1,710
Shasha-Kupchick, Leslie 3,418
Sheridan Family Partners, L.P. 15,944
Shine, William 2,766
Silberstein, John J. 75,140
Silbert, Harvey I. 19,976
Simons, Robert 3,364
Sims, David 52,938
Slaner, Estate of Alfred P. 34,958
Steiner, Phillip Harry 1,124
Steiner, Richard Harris 1,124
Tannenbaum, Bernard 912
Tannenbaum, Bernice 76
Tartikoff Living Trust 3,364
Winik, Trust U/W/O Carolyn 3,364
Watt, Emily 1,332
Wang, Kevin 77,458
Weissman, Sheila 664
Williams, John 2,244
----------------------------------
TOTAL 86,956,908 3,534,098 1,340,011
----------------------------------
</TABLE>
<PAGE> 10
<TABLE>
Total Value Percentage
Common Common Common Total Total Percentage
E Units Units Units Units Value Interest
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Oestreich, Sophy 4,610 $164,439 0.0050% 4,610 $164,439 0.0044%
Oppenheimer, Martin J. 338 $12,056 0.0004% 338 $12,056 0.0003%
Oppenheimer, Suzanne 338 $12,056 0.0004% 338 $12,056 0.0003%
Oshatz, Michael P. 30,180 $1,076,521 0.0329% 30,180 $1,076,521 0.0287%
Phillips, Family Trust UWO Edith 0 $0 0.0000% 0 $0 0.0000%
Phillips, Jonathan 3,364 $119,994 0.0037% 3,364 $119,994 0.0032%
Phillips, Lynn 3,364 $119,994 0.0037% 3,364 $119,994 0.0032%
Phillips, Estate of John D. 0 $0 0.0000% 0 $0 0.0000%
Plum Partners L.P. 0 $0 0.0000% 0 $0 0.0000%
Prentice Revocable Trust, 12/12/75 2,601 $92,778 0.0028% 2,601 $92,778 0.0025%
RCAY S.A. 0 0 $0 0.0000% 0 $0 0.0000%
Reichler, Richard 5,400 $192,618 0.0059% 5,400 $192,618 0.0051%
Reingold, Suzy 4,888 $174,355 0.0053% 4,888 $174,355 0.0046%
Roberts, H. Richard 39,426 $1,406,325 0.0429% 39,426 $1,406,325 0.0375%
Roche, Sara 3,364 $119,994 0.0037% 3,364 $119,994 0.0032%
Rolfe, Ronald 1,844 $65,775 0.0020% 1,844 $65,775 0.0018%
Rosenberg, Ilse 576 $20,546 0.0006% 576 $20,546 0.0005%
Rosenheim, Revocable Living 0 $0 0.0000% 0 $0 0.0000%
Trust of Edna 1,124 $40,093 0.0012% 1,124 $40,093 0.0011%
Rosenzveig, Abraham 3,744 $133,548 0.0041% 3,744 $133,548 0.0036%
Rubashkin, Martin 460 $16,408 0.0005% 460 $16,408 0.0004%
Rubin, Murray M. 3,364 $119,994 0.0037% 3,364 $119,994 0.0032%
Sahid, Joseph 1,844 $65,775 0.0020% 1,844 $65,775 0.0018%
Saunders, Paul 1,844 $65,775 0.0020% 1,844 $65,775 0.0018%
Saul, Andrew 20,196 $720,391 0.0220% 20,196 $720,391 0.0192%
Schacht, Ronald 988 $35,242 0.0011% 988 $35,242 0.0009%
Schwartz, Trust FBO Samuel 0 $0 0.0000% 0 $0 0.0000%
UWO Barbara Schwartz 4,278 $152,596 0.0047% 4,278 $152,596 0.0041%
Schwartz, Trust FBO Samuel 0 $0 0.0000% 0 $0 0.0000%
UWO Ellis Schwartz 256 $9,132 0.0003% 256 $9,132 0.0002%
Schwartz, Trust FBO Carolynn 0 $0 0.0000% 0 $0 0.0000%
UWO Barbara Schwartz 4,278 $152,596 0.0047% 4,278 $152,596 0.0041%
Schwartz, Trust FBO Carolynn 0 $0 0.0000% 0 $0 0.0000%
UWO Ellis Schwartz 256 $9,132 0.0003% 256 $9,132 0.0002%
Shapiro, Howard 932 $33,244 0.0010% 932 $33,244 0.0009%
Shapiro, Howard A. 336 $11,985 0.0004% 336 $11,985 0.0003%
Shapiro, Robert I. 3,364 $119,994 0.0037% 3,364 $119,994 0.0032%
Shasha, Alfred 5,770 $205,816 0.0063% 5,770 $205,816 0.0055%
Shasha, Alfred A. & Hanina 7,484 $266,954 0.0081% 7,484 $266,954 0.0071%
Shasha, Alfred & Hanina 0 $0 0.0000% 0 $0 0.0000%
Trustees UTA 6/8/94 13,676 $487,823 0.0149% 13,676 $487,823 0.0130%
Shasha, Robert Y. 1,710 $60,996 0.0019% 1,710 $60,996 0.0016%
Shasha-Kupchick, Leslie 3,418 $121,920 0.0037% 3,418 $121,920 0.0032%
Sheridan Family Partners, L.P. 15,944 $568,722 0.0174% 15,944 $568,722 0.0151%
Shine, William 2,766 $98,663 0.0030% 2,766 $98,663 0.0026%
Silberstein, John J. 75,140 $2,680,244 0.0818% 75,140 $2,680,244 0.0714%
Silbert, Harvey I. 19,976 $712,544 0.0218% 19,976 $712,544 0.0190%
Simons, Robert 3,364 $119,994 0.0037% 3,364 $119,994 0.0032%
Sims, David 52,938 $1,888,298 0.0576% 52,938 $1,888,298 0.0503%
Slaner, Estate of Alfred P. 34,958 $1,246,952 0.0381% 34,958 $1,246,952 0.0332%
Steiner, Phillip Harry 1,124 $40,093 0.0012% 1,124 $40,093 0.0011%
Steiner, Richard Harris 1,124 $40,093 0.0012% 1,124 $40,093 0.0011%
Tannenbaum, Bernard 912 $32,531 0.0010% 912 $32,531 0.0009%
Tannenbaum, Bernice 76 $2,711 0.0001% 76 $2,711 0.0001%
Tartikoff Living Trust 3,364 $119,994 0.0037% 3,364 $119,994 0.0032%
Winik, Trust U/W/O Carolyn 3,364 $119,994 0.0037% 3,364 $119,994 0.0032%
Watt, Emily 1,332 $47,512 0.0015% 1,332 $47,512 0.0013%
Wang, Kevin 77,458 $2,762,927 0.0843% 77,458 $2,762,927 0.0736%
Weissman, Sheila 664 $23,685 0.0007% 664 $23,685 0.0006%
Williams, John 2,244 $80,043 0.0024% 2,244 $80,043 0.0021%
------------------------------------------------ ----------- -------------- ---------
TOTAL 0 91,831,017 3,275,612,376 100.0000% 103,217,517 $3,754,766,840 100.0000%
----------------------------------------------- ----------- -------------- ---------
</TABLE>
(1) Directly and through the following subsidiaries: Vornado Finance Corp.,
Vornado Investments Corporation, 40 East 14 Realty Associates General
Partnership, 825 Seventh Avenue Holding Corporation, Menands Holding
Corporation, and Two Guys From Harrison, N.Y., Inc.
(2) Pledged. (See Section 11.3.F of the Operating Partnership Agreement.)
<TABLE>
<CAPTION>
Common Units
- ------------
<S> <C>
Vornado 85,069,127
Original Mendik Partners 4,865,790
Kennedy Partners 1,065,722
Freezer Services Partners 144,620
Westport Partners 8,319
770 Broadway Partner 458,964
20 Broad Partners 16,064
High Point Partners 202,411
----------
91,831,017
==========
</TABLE>
<PAGE> 1
Exhibit 99.2
CONTACT: JOSEPH MACNOW
(201) 587-1000
[Vornado Realty Trust logo]
Park 80 West, Plaza II
Saddle Brook, NJ 07663
FOR IMMEDIATE RELEASE -- December 23, 1998
SADDLE BROOK, NEW JERSEY ...... VORNADO REALTY TRUST (NYSE: VNO) today
announced that Vornado Realty L.P., the operating partnership through which
Vornado Realty Trust conducts its business, has sold an additional $27.5
million of 8.5% Series D-1 Cumulative Redeemable Preferred Units to an
institutional investor in a private placement, resulting in net proceeds of
approximately $26.8 million, or $85.3 million when combined with the proceeds
from the $60 million private placement on November 12, 1998 to the same
institutional investor. The perpetual Preferred Units may be called without
penalty at the option of Vornado Realty L.P. commencing in 2003.
The securities have not been and will not be registered under the
Securities Act of 1933, as amended, or any state securities laws and may not be
offered or sold except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state securities laws.
Vornado Realty Trust is a fully-integrated equity real estate investment
trust.
####
