Vornado Completes $220 Million
Financing of The Bartlett
NEW YORK…..VORNADO REALTY TRUST (NYSE:VNO) announced today that it has completed a $220 million financing of The Bartlett, a 699 unit residential building with a 39,000 square foot Whole Foods Market at its base, located in Arlington, Virginia. The five-year interest-only loan is at LIBOR plus 1.70%, currently 2.90%, and matures in June 2022.
As contemplated in the previously filed JBG SMITH Form 10, the property and the $217 million of net proceeds will be transferred to JBG SMITH in connection with the tax-free spin-off of our Washington, D.C. segment.
Vornado Realty Trust is a fully integrated equity real estate investment trust.