PARAMUS, N.J.--(BUSINESS WIRE)--VORNADO REALTY TRUST (NYSE:VNO) announced today that it has completed a $600 million refinancing of 555 California Street (top left photo), a three-building office complex aggregating 1.8 million square feet in San Francisco’s financial district, known as the Bank of America Center, in which Vornado owns a 70% controlling interest.
The 10-year loan bears interest at 5.10%. The loan amortizes based on a 30-year schedule beginning in the 4th year. The proceeds of the new loan and $45 million of existing cash were used to repay the existing loan and closing costs.
Vornado Realty Trust is a fully integrated equity real estate investment trust.
Contacts: Vornado Realty Trust, Joseph Macnow, 201-587-1000
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