Partners' Capital (Tables)

12 Months Ended

Dec. 31, 2012

(Amounts in thousands, except unit and
per unit amounts)		Balance as of				Units Outstanding at		Per Unit		Annual
		December 31,				December 31,		Liquidation		Distribution
Preferred Units		2012		2011		2012	2011	Preference		Rate⁽¹⁾
Convertible Preferred:
	6.5% Series A: authorized 83,977 units⁽²⁾	$	1,682	$	1,787	34,609	36,709	$	50.00	$	3.25
Cumulative Redeemable:
	6.75% Series F: authorized 6,000,000 units⁽³⁾		144,720		144,720	6,000,000	6,000,000	$	25.00	$	1.6875
	6.625% Series G: authorized 8,000,000 units⁽⁴⁾		193,135		193,135	8,000,000	8,000,000	$	25.00	$	1.656
	6.75% Series H: authorized 4,500,000 units⁽³⁾		108,549		108,549	4,500,000	4,500,000	$	25.00	$	1.6875
	6.625% Series I: authorized 10,800,000 units⁽⁴⁾		262,379		262,379	10,800,000	10,800,000	$	25.00	$	1.656
	6.875% Series J: authorized 9,850,000 units⁽⁴⁾		238,842		238,842	9,850,000	9,850,000	$	25.00	$	1.71875
	5.70% Series K: authorized 12,000,000 units⁽⁴⁾		290,971		-	12,000,000	-	$	25.00	$	1.425
	7.0% Series E: authorized 3,000,000 units⁽⁴⁾		-		72,248	-	3,000,000	$	25.00	$	1.75
		$	1,240,278	$	1,021,660	51,184,609	42,186,709


(1)	Distributions on preferred units are cumulative and are payable quarterly in arrears.

(2)	Redeemable at the option of Vornado, under certain circumstances, at a redemption price plus accrued and unpaid distributions or, convertible at anytime at the option of the holder for 1.4334 Class A units per Series A Preferred unit.

(3)	Redeemed on February 19, 2013 (See Note 25 - Subsequent Events).

(4)	Redeemable at Vornado's option at a redemption price of $25.00 per unit, plus accrued and unpaid distributiuon through the date of redemption.

- Definition

Tabular disclosure of preferred units of master limited partnerships that have priority over limited partner units in areas including liquidation, redemption, conversion, tax status of distribution or sharing in distributions. This schedule ordinarily includes a description of the preferred units that details various rights including redemption, conversion, liquidation, and sharing in distributions; capital contributed by preferred partners; number of preferred units authorized to be issued, issued, and outstanding; aggregate cumulative cash distributions made to the preferred partners; aggregate cumulative net income earned by the preferred partners; capital account balance of the preferred partners.

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