05:25 PM EDT, 06/05/2025 (MT Newswires) -- Vornado Realty Trust ( VNO ) said late Thursday that its 50.1% owned joint venture has completed a $675 million refinancing of Independence Plaza, a 1,328-unit residential complex in Manhattan's Tribeca neighborhood.

The new five-year, interest-only loan carries a fixed rate of 5.84% and matures in June 2030. It replaces a previous $675 million loan that had an interest rate of 4.25% and was set to mature in July 2025.