Vornado Secures $600M Loan For Central Park South Project
By Kaitlin
Law360, New York (February 03, 2014, 11:23 AM ET) --
Quote:
Vornado Realty Trust has secured $600 million in financing for the development site on 57th Street in Manhattan that it acquired in October after a long-running feud with rival Extell Development Co., Vornado announced Monday.
The real estate investment trust completed the $600 million loan secured by the 220 Central Park South assemblage with interest at Libor plus 2.75 percent, according to Monday's statement. The loan matures in January 2016, and comes with three one-year extension options.
A spokesperson for Vornado declined to provide further comment....
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