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Vornado Realty upsizes development loan

Sep. 29, 2015 10:11 AM ETVornado Realty Trust (VNO) StockBy: Stephen Alpher, SA News Editor
  • The loan for Vornado's (NYSE:VNO +0.7%) 220 Central Park South development is boosted to $950M from $600M. The interest rate is Libor plus 2%, and the maturity date is 2020.
  • In connection with the upsizing, the standby commitment for a $500M mezz loan has been terminated, with Vornado paying a $15M termination fee.
  • Source: Press Release

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