Vornado refinances Green Acres Mall for $335m

Vornado Realty Trust has completed a $335 million refinancing of its 1.8 million s/f Green Acres Regional Mall located in Valley Stream, Long Island, New York. This interest-only loan has a rate of LIBOR plus 1.40% and matures in February 2011 with two one?year extension options. After repaying the existing loan and closing costs, the company realized net proceeds of approximately $193 million. Vornado Realty Trust is a fully-integrated equity real estate investment trust.