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Posted: October 8, 2010
Vornado Realty Trust completes 10-year $660 million mortgage financing
Through a subsidiary of Vornado Realty Trust, the company sold $660 million of 10-year mortgage notes in a single issuer securitization. The notes are comprised of a $600 million fixed-rate component and a $60 million variable rate component and are cross-collateralized by 40 strip shopping centers located in the Mid-Atlantic region. The $600 million fixed-rate portion bears interest at the initial rate of 4.17% and a weighted average of 4.31% over the 10-year term.
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