Vornado Completes $120 Million Refinancing of 4 Union Square South
Vornado Realty Trust (NYSE:VNO) has successfully completed a $120 million refinancing of its 4 Union Square South property, a 204,000 square foot retail property in Manhattan. The new ten-year interest-only loan features a fixed rate of 5.64%.
This refinancing replaces the previous $120 million loan that had an interest rate of SOFR plus 1.50% (equivalent to 5.85% as of August 11, 2025) and was set to mature in August 2025. The refinancing represents a strategic move to secure long-term fixed-rate financing for this significant Manhattan retail asset.
Vornado Realty Trust (NYSE:VNO) ha completato con successo il rifinanziamento di 120 milioni di dollari per l'immobile 4 Union Square South, una proprietà retail di 204.000 piedi quadrati a Manhattan. Il nuovo prestito decennale a interesse solo prevede un tasso fisso del 5,64%.
Questo rifinanziamento sostituisce il precedente prestito da 120 milioni di dollari che aveva un tasso pari a SOFR più 1,50% (equivalente al 5,85% all'11 agosto 2025) e che sarebbe scaduto nell'agosto 2025. La mossa rappresenta una strategia per assicurare un finanziamento a tasso fisso a lungo termine per questo importante asset retail a Manhattan.
Vornado Realty Trust (NYSE:VNO) ha completado con éxito el refinanciamiento de 120 millones de dólares de la propiedad 4 Union Square South, un local comercial de 204.000 pies cuadrados en Manhattan. El nuevo préstamo a diez años con pago solo de intereses tiene una tasa fija del 5,64%.
Este refinanciamiento reemplaza al préstamo anterior de 120 millones de dólares que tenía una tasa de SOFR más 1,50% (equivalente al 5,85% al 11 de agosto de 2025) y que vencía en agosto de 2025. Representa un movimiento estratégico para asegurar financiación a largo plazo a tasa fija para este importante activo comercial en Manhattan.
Vornado Realty Trust (NYSE:VNO)가 맨해튼의 4 Union Square South, 연면적 204,000평방피트 규모의 소매 부동산에 대해 1억2000만 달러의 리파이낸싱을 성공적으로 완료했습니다. 새 10년 만기 이자만 납부하는 대출은 연 5.64%의 고정금리를 적용받습니다.
이번 리파이낸싱은 기존의 1억2000만 달러 대출(금리: SOFR + 1.50%, 2025년 8월 11일 기준 약 5.85%)의 만기(2025년 8월)를 대체합니다. 이는 이 중요한 맨해튼 소매 자산에 대해 장기 고정금리 자금을 확보하기 위한 전략적 조치입니다.
Vornado Realty Trust (NYSE:VNO) a finalisé avec succès le refinancement de 120 millions de dollars de l'immeuble 4 Union Square South, un bien commercial de 204 000 pieds carrés à Manhattan. Le nouveau prêt sur dix ans à intérêts seuls comporte un taux fixe de 5,64%.
Ce refinancement remplace le prêt précédent de 120 millions de dollars qui portait un taux égal à SOFR plus 1,50 % (soit 5,85 % au 11 août 2025) et qui devait arriver à échéance en août 2025. Il s'agit d'une démarche stratégique visant à garantir un financement à taux fixe à long terme pour cet important actif commercial à Manhattan.
Vornado Realty Trust (NYSE:VNO) hat die Refinanzierung in Höhe von 120 Millionen US-Dollar für die Immobilie 4 Union Square South, eine 204.000 Quadratfuß große Einzelhandelsimmobilie in Manhattan, erfolgreich abgeschlossen. Das neue zehnjährige Nur-Zins-Darlehen sieht einen festen Zinssatz von 5,64% vor.
Die Refinanzierung ersetzt das vorherige Darlehen in Höhe von 120 Millionen US-Dollar, das einen Zinssatz von SOFR plus 1,50% hatte (entsprechend 5,85% am 11. August 2025) und im August 2025 fällig geworden wäre. Die Maßnahme stellt einen strategischen Schritt dar, um langfristige, festverzinsliche Finanzierung für dieses bedeutende Einzelhandelsobjekt in Manhattan zu sichern.
- Secured long-term fixed-rate financing for 10 years
- Achieved slightly lower interest rate (5.64%) compared to previous rate (5.85%)
- Maintained interest-only payment structure, preserving cash flow
- Refinancing amount remained unchanged at $120 million with no cash-out opportunity
Insights
Vornado secured favorable refinancing terms, locking in a slightly lower fixed rate versus the previous variable rate loan.
Vornado has successfully refinanced its
The second notable benefit is the interest-only structure, which improves cash flow by eliminating principal amortization requirements. With the full
This refinancing represents prudent financial management amid the current interest rate environment. The transaction maintains Vornado's leverage on this asset while securing long-term, predictable financing costs. For a retail property in Manhattan – a sector facing challenges – locking in decade-long financing demonstrates lender confidence in both the asset and Vornado's management. The slight interest savings, estimated at approximately
NEW YORK, Aug. 12, 2025 (GLOBE NEWSWIRE) --
Vornado Realty Trust (NYSE:VNO) announced today that it has completed a
The loan replaces the previous
Vornado Realty Trust is a fully-integrated equity real estate investment trust.
CONTACT
Thomas J. Sanelli
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Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as "approximates," "believes," "expects," "anticipates," "estimates," "intends," "plans," "would," "may" or other similar expressions in this press release. For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see “Risk Factors” in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2024. Currently, some of the factors are interest rate fluctuations and the effects of inflation on our business, financial condition, results of operations, cash flows, operating performance and the effect that these factors have had and may continue to have on our tenants, the global, national, regional and local economies and financial markets and the real estate market in general.
FAQ
What are the terms of Vornado's (NYSE:VNO) new refinancing for 4 Union Square South?
How does VNO's new loan rate compare to the previous financing?
What is the size of Vornado's 4 Union Square South property?
When was Vornado's previous loan for 4 Union Square South scheduled to mature?
