VORNADO REALTY TRUST (NYSE:VNO) announced today that it has completed
the acquisition of 150 West 34th Street, a 78,000 square foot retail
property leased to Old Navy through May 2019, which comes with 226,000
square feet of additional zoning air rights. The property is located
across the street from Macy’s. The purchase price is approximately $355
million. At closing, the Company completed a $205 million financing of
the property. The loan bears interest at LIBOR plus 2.25% and matures in
August 2018 with two one-year extension options.
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.
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