VORNADO REALTY TRUST (NYSE:VNO) announced today that its has completed a
$75 million financing of 4 Union Square South, Manhattan, a 203,000
square foot fully-leased retail property. This interest-only loan has a
rate of LIBOR plus 3.25% (3.78% currently) and matures in April 2012
with two one-year extension options. The property was previously
unencumbered.
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.