Vornado Seeks to Claim 2 Prime Group Board Spots

CHICAGO-Prime Group Realty Trust's board of directors could see the addition of Vornado Realty Trust chairman and chief executive officer Steven Roth and executive vice president Wendy Silverstein next month.

By Mark Ruda | April 01, 2002 at 01:01 AM

Former Illinois Governor James R. Thompson is a partner in the law firm as well as a member of the Prime Group board. The REIT paid Winston & Strawn $2.8 million in legal fees last year.

Vornado is entitled to the seats under a loan agreement with Prime Group chairman Michael Reschke's Primestone Investment entity. The Paramus, NJ-based company revealed in a Securities and Exchange Commission filing that it took steps to formally seek the seats March 20, a week before Prime Group revealed fourth-quarter and year-end financial results as well as its auditor's doubts about its ability to continue as a going concern.

NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.

1 Landlords Pulled Into Immigration Raids as ICE Demands Tenant Information

2 HUD Considers Two-Year Limit on Rental Assistance Programs

3 Invesco and Bozzuto Launch $1B Capacity Multifamily Investment Program

4 SL Green Raises $1B for Opportunistic Debt Fund

5 Brookfield’s Net Lease Platform Changes Hands in $2.2B Deal with Starwood

SL Green Raises $1B for Opportunistic Debt Fund

By Erika Morphy | July 18, 2025

It expects additional investor commitments to close in the coming weeks.

SL Green Raises $1B for Opportunistic Debt Fund

CRE Executives Report Growing Reservations Amid Financing Crunch

By Erika Morphy | July 18, 2025

Investors react as lending standards tighten and caution rises.

CRE Executives Report Growing Reservations Amid Financing Crunch

Wells Fargo and Rivals See Credit Quality Improve With CRE Loans

By Erik Sherman | July 17, 2025

Banks may need 12 to 18 more months to bring nonperforming office loans to manageable levels.

Wells Fargo and Rivals See Credit Quality Improve With CRE Loans

2025 State of Renter Delinquency and Default link

Report

Sponsored by TheGuarantors

2025 State of Renter Delinquency and Default

Renter default is a critical challenge. This report, based on a survey of 400+ multifamily professionals, reveals key trends, economic drivers, and mitigation gaps to help you build resilience in 2025. You'll gain insights into the root causes of renter default, the operational strains it can put on your portfolio, and strategies you can leverage to protect your investments and maintain stability.

Browse More Resources ›

CRE Property Management Assessment: Your Building Operations Scorecard link

Assessment

Sponsored by Building Engines

CRE Property Management Assessment: Your Building Operations Scorecard

How do your building operations measure up? Use this detailed scorecard to evaluate your operational approach across five key areas.

Browse More Resources ›

5 Strategic Moves to Protect Your Multifamily NOI in 2025's Squeeze link

White Paper

Sponsored by TheGuarantors

5 Strategic Moves to Protect Your Multifamily NOI in 2025's Squeeze

Skyrocketing economic uncertainty means it’s essential for multifamily owners and operators to strengthen risk mitigation capabilities. Discover expert insights from industry experts, including the President of NMHC, to tackle 2025 challenges such as slower lease-ups, cost pressures, renter fraud, high reliance on concessions, and more.

Browse More Resources ›