Vornado Completes $120 Million Refinancing of 4 Union Square South
August 13 2018 - 5:09PM
VORNADO REALTY TRUST (NYSE:VNO) announced today that it has
completed a $120 million refinancing of 4 Union Square South,
a 206,000 square foot Manhattan retail property. The
interest-only loan carries a rate of LIBOR plus 1.40% (currently
3.47%) and matures in 2025, as extended.
The loan replaces the previous $113 million of
indebtedness that bore interest at LIBOR plus 2.15% and was
scheduled to mature in 2019.
Vornado Realty Trust is a fully integrated
equity real estate investment trust.
Certain statements contained herein may
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such
factors include, among others, risks associated with the timing of
and costs associated with property improvements, financing
commitments and general competitive factors.
CONTACT: JOSEPH MACNOW(212) 894-7000
Vornado Realty (NYSE:VNO)
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