Bald Eagle Partners - Principals

Paul F. Larner

Thirty years real estate experience as a senior executive in public and private real estate companies, a private real estate investor and entrepreneur, and real estate attorney.    

       Larner Investments - Since leaving Vornado in 2003, the managing member, as well as cash investor, in seven real estate investment partnerships. Larner Investments has closed a total of $35 million in real estate purchases and sales. On closed transactions, the equity rate of return (IRR) is north of 100%.

       Vornado Realty Trust - In 2002, post Smith--VNO merger, appointed Chief Administrative Officer of Vornado, reported to VNO Chief Executive Officer, responsible for a host of functions, including company wide budgeting.

       The Charles E. Smith Cos. - From 1989-2003 worked as attorney, VP-Finance, SVP - Finance, CFO, and COO. Finance executive responsible for originating and closing some $5 billion in all forms of real estate debt: multi-family; office; land; condo; construction and rehab; acquisition and development. Extremely knowledgeable about nearly all aspects of real estate finance, development, and law. Actively involved in the 1994 Smith Residential IPO. Key executive responsible for the 1997 consolidation of some 20 odd limited partnerships in $1.1 billion formation transaction involving $60 million equity placement. Lead executive responsible to owners for designing the capital structure for public company exit for Charles E. Smith Commercial and conducting negotiations for the 2002 merger with Vornado Realty Trust (NYSE:VNO).

       JD, 1985, University of Virginia School of Law

       MA, 1982, University of London (with Distinction)

       BA, 1978, Haverford College (with Honors)

       Expert Witness in World Trade Center Litigation