LNR Property, the commercial real estate company controlled by Cerberus Capital Management, has received a $417 million cash infusion from a group that includes Vornado Realty Trust, iStar Financial, Oaktree Capital Management and Cerberus, the company announced Friday. The new investments helped LNR, which is among the country’s largest servicers of commercial real estate loans, reduce its debt to $425 million from $1.3 billion. Steven Roth’s Vornado now has a 26.2 percent equity interest in LNR, which comes from a $116 million new cash investment, combined with a conversion of its $15 million mezzanine loan into equity, the New York-based REIT said. In a statement, LNR CEO Tom Hughes called the deal a “substantial new investment in LNR by our sponsor and four largest creditors” that will make LNR “well-positioned to capitalize on opportunities in the commercial real estate market.” TRD

Vornado Realty Trust is “nervously bullish” on the commercial real estate market, Steven Roth, the REIT’s chairman, told CNBC’s Squawk Box today. Roth said that while he believes the market bottom has already passed, and transaction volume is “ticking up a great deal,” he is still keeping some office space in his portfolio off the market until rents recover.

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Vornado Realty Trust, the New York City-based landlord which also owns shopping centers in Miami and Tampa, posted a $200.3 million first-quarter net income. That’s a significant increase over the net income from the same quarter a year earlier, which reached $125.8 million, according to a report from the company released today. The resulting funds from operations reached $1.87 per share to common shareholders. This FFO is up from $1.65 per share seen in the first quarter of 2009. TRD

Vornado Realty Trust saw net income attributable to shareholders at $126.3 million in the third quarter this year, according to a report released this morning, compared to the third quarter a year ago when that figure was just $22.7 million. The jump marks a five-fold increase in Vornado’s income year-over-year. This comes to an income of $0.69 per diluted share this past quarter, compared to $0.14 during the same time period a year ago. The year-over-year difference comes as Vornado has been preparing to rapidly snap up the “stupid, stupid, stupid cheap” assets that have amassed in the down market, as The Real Deal previously reported. TRD