Vornado's Joint Venture Boosts Strength With $675M Refinancing

Key Takeaways Vornado's JV secured a $675 million refinancing for the Independence Plaza complex in Manhattan The new five-year, interest-only loan carries a fixed rate of 5.84$675 million loan with a 4.25% rate that was set to mature in July 2025.Vornado Realty Trust, Inc. (VNO) announced that its joint venture (JV), in which it holds a 50.1% stake, has completed a refinancing of $675 million for Independence Plaza, a residential complex comprising 1,328 ...