Vornado Completes $400 Million
Refinancing of 350 Park Avenue
Realizing $111 Million of Net Proceeds
NEW YORK…..VORNADO REALTY TRUST (NYSE:VNO) announced today that it has completed a $400 million refinancing of 350 Park Avenue, a 571,000 square foot Manhattan office building. The ten-year interest-only loan matures in January 2027 and has a fixed rate of 3.92%. The Company realized net proceeds of approximately $111 million after repaying the existing 3.75% $284 million loan and closing costs.
Vornado Realty Trust is a fully integrated equity real estate investment trust.