Vornado Realty Trust has completed the $325 million refinancing of 100 West 33rd St., a 1.1 million s/f property located on the entire Sixth Ave. block front between 32nd and 33rd Sts. The building contains the 243,000 s/f Manhattan Mall and 847,000 s/f of office space.
The loan bears interest at LIBOR plus 2.5%, today 2.74%, and matures in March 2015 with two one-year extension options. The company realized net proceeds of approximately $87 million after repaying the existing loan on the property and closing costs.
Vornado Realty Trust is a fully integrated equity real estate investment trust. Tags: