Vornado Realty gets $800 million 3.486% 10-year interest-only loan

By Angela McDaniels

Tacoma, Wash., Dec. 2 – Vornado Realty Trust’s 20.1%-owned joint venture has completed an $800 million refinancing of 650 Madison Avenue, a Manhattan office and retail property, according to a company news release.

The 10-year interest-only loan carries a fixed rate of 3.486% and matures in December 2029.

The loan replaces the previous $800 million loan that bore interest at a fixed rate of 4.39% and was scheduled to mature in October 2020.

Vornado Realty Trust is an equity real estate investment trust based in New York.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.