Vornado Completes $167.5 Million Refinancing of 61 Ninth Avenue

Jan 29, 2019

NEW YORK, Jan. 29, 2019 (GLOBE NEWSWIRE) -- VORNADO REALTY TRUST (NYSE: VNO) announced today that its 45.1% owned joint venture has completed a $167.5 million refinancing of 61 Ninth Avenue, a 170,000 square foot newly constructed office and retail property in the Meatpacking district of Manhattan, which is fully leased to Aetna and Starbucks. The seven-year interest only loan carries a rate of LIBOR plus 1.35% (currently 3.79%) and matures in January 2026. Vornado realized net proceeds of approximately $31 million.

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