Vornado Completes $600 Million Financing of 220 Central Park South Development Site
PARAMUS, N.J.--(BUSINESS WIRE)--VORNADO REALTY TRUST (NYSE:VNO) announced today it has completed a $600 million loan secured by its 220 Central Park South development site. The loan bears interest at Libor plus 2.75% and matures in January 2016 with three 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.