Vornado completes USD120m refinancing of 4 Union Square South
Real estate investment trust Vornado Realty Trust has completed a USD120m refinancing of 4 Union Square South, a 206,000 square foot Manhattan retail property.
The seven-year loan bears interest at LIBOR plus 2.15 per cent and amortizes based on a 30-year schedule beginning in the third year.
The net proceeds from the refinancing were approximately USD42m after repaying the existing loan and closing costs.
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