Vornado Completes $450 Million Refinancing of PENN 11
NEW YORK, July 16, 2025 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that it has completed a $450 million refinancing of PENN 11, a 1.2 million square foot Manhattan office building located in THE PENN DISTRICT. The five-year interest only loan matures in August 2030 and has a fixed rate of 6.35%.
Vornado paid down by $50 million the prior $500 million loan that bore interest at a rate of SOFR plus 2.06% (swapped to fixed at an all-in rate of 6.28%) and was scheduled to mature in October 2025.
Vornado Realty Trust is a fully-integrated equity real estate investment trust.
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