Vornado Completes $120 Million
Refinancing of 4 Union Square South
NEW YORK…..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.