Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
VORNADO REALTY TRUST
  2. Issuer Name and Ticker or Trading Symbol
GMH Communities Trust [GCT]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
888 SEVENTH AVE
3. Date of Earliest Transaction (Month/Day/Year)
05/02/2006
(Street)

NEW YORK, NY 10019
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Shares of Beneficial Interest (1) 05/02/2006   X   1,817,247 (2) A $ 8.22 2,517,247 D (3)  
Common Shares of Beneficial Interest (1)               4,034 (4) I (4) I (4)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrant (2) $ 8.22 05/02/2006   X     1,817,247 10/28/2004 05/02/2006 Common Shares of Beneficial Interest 0 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
VORNADO REALTY TRUST
888 SEVENTH AVE
NEW YORK, NY 10019
    X    
VORNADO REALTY LP
PARK 80 WEST PLAZA II
SADDLE BROOK, NJ 07663
    X    

Signatures

 Vornado Realty Trust - /s/ Alan J. Rice, Senior Vice President   05/25/2006
**Signature of Reporting Person Date

 Vornado Realty L.P., by Vornado Realty Trust (general partner) - /s/ Alan J. Rice, Senior Vice President   05/25/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Par value $0.001 per share (the "Common Shares").
(2) Consists of 1,817,247 Common Shares of GMH Communities Trust (the "Issuer") that Vornado Realty L.P. acquired as of May 2, 2006 pursuant to the exercise on May 2, 2006 of a Warrant, dated as of July 27, 2007, as amended (the "Warrant").
(3) Includes 700,000 Common Shares acquired on October 4, 2005 by Vornado Investments L.L.C., a wholly-owned subsidiary of Vornado Realty L.P.
(4) Constitutes restricted Common Shares of the Issuer comprised of 3,500 shares granted August 10, 2005 and 534 shares granted September 30, 2005 held indirectly for the benefit of Vornado Realty Trust.
 
Remarks:
This Form 4 is being filed by Vornado Realty Trust ("Vornado") and Vornado Realty L.P. ("Realty L.P." and, together with
 Vornado and Realty L.P., the "Reporting Persons") with respect to Common Shares of Beneficial Interest, par value $0.001 per
 share ("Common Shares") of GMH Communities Trust, a Maryland real estate investment trust (the "Issuer"). Vornado Realty
 Trust is a fully-integrated real estate investment trust. Vornado conducts its business through Realty L.P., a Delaware
 limited partnership. Vornado is the sole general partner of, and owned approximately 89.6% of the common limited partnership
 interests in Realty L.P. at March 31, 2006.

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