Vornado Realty Trust Secures $450 Million Refinancing for PENN 11 Office Building-February 2024-www.financetom.com

Vornado Realty Trust Secures $450 Million Refinancing for PENN 11 Office Building

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Vornado Realty Trust Secures $450 Million Refinancing for PENN 11 Office Building

Jul 16, 2025 2:39 PM

05:00 PM EDT, 07/16/2025 (MT Newswires) -- Vornado Realty Trust ( VNO ) said late Wednesday it refinanced its PENN 11 office building in Manhattan, New York, with a new $450 million loan.

The new five-year, interest-only loan carries a fixed interest rate of 6.35% and will mature in August 2030, the company said.

The refinancing replaces a $500 million loan that was due in October 2025 and had an effective interest rate of 6.28%, it added.

Vornado said it paid down $50 million of the previous loan as part of the refinancing.

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