The President of Vornado Realty Trust, Michael Fascitelli said that the owner of LNR Property LLC is considering multiple strategic alternatives. Vornado currently holds 26% stake in LNR Property. “It's been a terrific investment,” Fascitelli said.

“It's met all our expectations. We are enjoying great results, but right now the owners of that are exploring strategic alternatives, so that's on its own time frame.” Vornado's shares fell 2.4% to $83.59 on August 7, 2012.