Vornado Completes $120 Million Refinancing of 4 Union Square South
Vornado AG真人官方ty 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 AG真人官方ty Trust (NYSE:VNO) ha completato con successo il rifinanziamento di 120 milioni di dollari per l'immobile 4 Union Square South, una propriet脿 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 pi霉 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 AG真人官方ty Trust (NYSE:VNO) ha completado con 茅xito el refinanciamiento de 120 millones de d贸lares de la propiedad 4 Union Square South, un local comercial de 204.000 pies cuadrados en Manhattan. El nuevo pr茅stamo a diez a帽os con pago solo de intereses tiene una tasa fija del 5,64%.
Este refinanciamiento reemplaza al pr茅stamo anterior de 120 millones de d贸lares que ten铆a una tasa de SOFR m谩s 1,50% (equivalente al 5,85% al 11 de agosto de 2025) y que venc铆a en agosto de 2025. Representa un movimiento estrat茅gico para asegurar financiaci贸n a largo plazo a tasa fija para este importante activo comercial en Manhattan.
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Vornado AG真人官方ty Trust (NYSE:VNO) a finalis茅 avec succ猫s le refinancement de 120 millions de dollars de l'immeuble 4 Union Square South, un bien commercial de 204 000 pieds carr茅s 脿 Manhattan. Le nouveau pr锚t sur dix ans 脿 int茅r锚ts seuls comporte un taux fixe de 5,64%.
Ce refinancement remplace le pr锚t pr茅c茅dent de 120 millions de dollars qui portait un taux 茅gal 脿 SOFR plus 1,50 % (soit 5,85 % au 11 ao没t 2025) et qui devait arriver 脿 茅ch茅ance en ao没t 2025. Il s'agit d'une d茅marche strat茅gique visant 脿 garantir un financement 脿 taux fixe 脿 long terme pour cet important actif commercial 脿 Manhattan.
Vornado AG真人官方ty Trust (NYSE:VNO) hat die Refinanzierung in H枚he von 120 Millionen US-Dollar f眉r die Immobilie 4 Union Square South, eine 204.000 Quadratfu脽 gro脽e Einzelhandelsimmobilie in Manhattan, erfolgreich abgeschlossen. Das neue zehnj盲hrige Nur-Zins-Darlehen sieht einen festen Zinssatz von 5,64% vor.
Die Refinanzierung ersetzt das vorherige Darlehen in H枚he 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 f盲llig geworden w盲re. Die Ma脽nahme stellt einen strategischen Schritt dar, um langfristige, festverzinsliche Finanzierung f眉r 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 鈥� a sector facing challenges 鈥� 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 AG真人官方ty Trust (NYSE:VNO) announced today that it has completed a
The loan replaces the previous
Vornado AG真人官方ty Trust is a fully-integrated equity real estate investment trust.
CONTACT
Thomas J. Sanelli
(212) 894-7000
Certain statements contained herein may constitute 鈥渇orward-looking statements鈥� 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 鈥淩isk Factors鈥� 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?
