NEW YORK CITY-For publicly-traded REIT Vornado RealtyTrust, everything is on the table—literally, says companychairman Steven Roth in a letter to shareholders filed with theSecurities and Exchange Commission on April 13. In acall-to-arms style announcement, the company will be redefining itsNew York business segment, as well as actively trimmingnon-strategic, non-geographic assets in an effort to ramp up itscommercial real estate strategy in core business markets inManhattan and Washington, DC.

“As [Vornado CEO and president] Mike [Fascitelli] said to anindustry group, ‘we have lost some luster and we are going to fightto get it back,” Roth writes. “And we will.”

Vornado—whose portfolio consists of more than 200 owned ormanaged properties totaling over 31 million square feetnationwide—includes notable New York sites such asthe ManhattanMall, Rego Park II and 11 Penn Plaza, all which that wererefinanced last year.