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Vornado Completes $120 Million Refinancing of 4 Union Square South

1. Vornado refinanced a $120 million loan for a Manhattan property. 2. The new loan has a fixed rate of 5.64%, lower than the previous 5.85%. 3. This refinancing extends loan maturity and reduces financial pressure on Vornado. 4. Interest rate fluctuations and inflation are current risks affecting Vornado. 5. Future performance uncertainties are acknowledged in the company's statements.

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FAQ

Why Bullish?

The refinancing lowers interest rates slightly, reducing Vornado's debt service costs.

How important is it?

The refinancing directly affects cash flow and financial stability, influencing investor sentiment.

Why Short Term?

Immediate relief from refinancing may boost cash flow in the near term.

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August 12, 2025 16:25 ET  | Source: Vornado Realty Trust NEW YORK, Aug. 12, 2025 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that it has completed a $120 million refinancing of 4 Union Square South, a 204,000 square foot Manhattan retail property. The ten-year interest only loan has a fixed rate of 5.64%. The loan replaces the previous $120 million loan that bore interest at SOFR plus 1.50% (5.85% as of August 11, 2025) and was originally scheduled to mature in August 2025. Vornado Realty Trust is a fully-integrated equity real estate investment trust. CONTACT Thomas J. Sanelli(212) 894-7000 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.

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