Vornado's (NYSE:VNO) 50.1%-owned joint venture completes a $675M refinancing of Independence Plaza, a 1,327-unit residential complex in Manhattan's Tribeca submarket.
The seven-year interest only loan matures in July 2025 and has a fixed rate of 4.25%; the property was previously encumbered by a $550M loan.
Source: Press Release
Previously: Vornado to sell interests in troubled 666 Fifth office condo to Kushner Cos. (June 1)
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