VORNADO REALTY TRUST (NYSE:VNO) announced today that it has completed a
$140 million financing of 655 Fifth Avenue, a 57,500 square foot retail
and office property at the northeast corner of Fifth Avenue and 52nd
Street in Manhattan. The loan is interest only at LIBOR plus 1.40% and
matures in 2019 with two one-year extensions options. Vornado owns 92.5%
of this property.
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.
Copyright Business Wire 2014