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Franco, 50, who has been with Vornado since 2011, was one of a number of what Vornado chairman and CEO Steven Roth termed as “important and even generational” changes in its senior management in his annual letter to shareholders in the company's 8K filing with the SEC on Friday.

The agreements with JACK Entertainment LLC call for VICI Properties to acquire 100% of the membership interests of a subsidiary of JACK Cincinnati that owns the land and real estate assets of JACK Cincinnati for $558 million, and Hard Rock will acquire the operating assets of JACK Cincinnati for $187 million.

The fully-leased building is the closest privately-owned laboratory/office building to Harvard University and is situated within walking distance of the Massachusetts Institute of Technology.

“This was a very challenging lease transaction with competition from two other buildings in Waterford at Blue Lagoon, both capable of accommodating Parbel's requirements,” says C&W's Mendoza.

“This deal provided a cash-out refinance on a newly constructed multifamily property,” says Arbor's Jared Stein.

Kislak senior vice president Barry Waisbrod brokered the last sale of the property in 2017, also at a record price level.