VORNADO REALTY TRUST (NYSE:VNO) announced today that it has completed an
$82.5 million refinancing of 2011 Crystal Drive, a 442,000 square foot
office building located in Crystal City - Arlington, Virginia. The loan
has a fixed rate of 7.3% and matures in August 2017 with two one-year
extension options. After repaying the existing loan and closing costs,
the Company realized net proceeds of approximately $44.5 million.
Vornado Realty Trust is a fully-integrated equity real estate investment
trust.
Certain statements contained herein may constitute “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Such factors include, among others, risks associated with the timing of
and costs associated with property improvements, financing commitments
and general competitive factors.
Vornado Realty Trust
Joseph Macnow, 201-587-1000
