666 Fifth Ave. 666 FifthAve.

NEW YORK CITY—Vornado Realty Trust reports it has sold its 45.4%equity interest in a portfolio of retail assets on Upper FifthAvenue and Times Square to a group of institutional investors ledby Crown Acquisitions Inc. in a deal that values the portfolio at$5.556 billion.

In connection with the deal, Vornado also reports that HaimChera, 50, has left the family-owned Crown Acquisitions to joinVornado as its EVP- head of retail.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.