Vornado Refinances Eleven Penn Plaza for $330M
PARAMUS—Vornado Realty Trust announced that on December 28, 2011 it completed a $330 million refinancing of Eleven Penn Plaza, a 1.1-million-sq.-ft. Manhattan office building. The seven-year loan bears interest at LIBOR plus 2.35 percent, today 2.64 percent. The loan amortizes based on a 30 year schedule beginning in the fourth year. The company realized net proceeds of approximately $126 million after repaying the existing loan on the property and closing costs.
Acceptable Use Policy blog comments powered by Disqus
Want to use this article? Click here for options!
© 2012 Penton Media Inc.
advertisement
Photo Galleries
New York's Star Deals
The city that never sleeps is also the city that never stops growing, not even in the midst of recession. And deals, both bold and unprecedented, continue to be done. Check out image of New York's big deals.
Hudson Yards Development
Check out images for Coach's new global headquarters, which will anchor the initial tower of the Eastern Rail Yards site within the 26-acre mixed-
Videos
NREI TV at the MBA CREF 2012 Conference
Check out these videos of NREI Editorial Director David Bodamer speaking with industry experts from Atlanta.
Click here to view more videos.
This Week's Most Popular
Current Issue
 |
|
advertisement
Blogs
 |
Real Vox |
 |
Traffic Court |
 |
The Full Nelson |
Events
 |
|---|
Strategic Real Estate Investment ConferenceDate: Thursday, June 7, 2012 Click here to view more events... |
Join the Conversation
