Vornado Realty Trust is seeking to sell assets worth more than $1 billion. Michael Fascitelli, Chief Executive of Vornado Realty said, "We have the best part of a billion dollars in aspirations to sell by the end of the year, maybe even far more than that." Vornado does not plan to sell its stake in J. C. Penney Company, Inc. but would like to divest stake in Toys "R" Us Inc.