Vornado JV Completes $161 Million Refinancing of 61 Ninth Avenue
Vornado Realty Trust's 45.1% owned joint venture has completed a $161 million refinancing of 61 Ninth Avenue, a 194,000 square foot office and retail property in Manhattan's Meatpacking district. The new interest-only loan matures in March 2029 and carries a rate of SOFR plus 3.00% for the first year, SOFR plus 3.35% for the second year, and SOFR plus 3.85% for the remainder of the term.
Key figures
- Deal Value Usd
- 161000000
- Loan maturity
- March 2029
- Property size
- 194,000 square feet
- First year rate
- SOFR plus 3.00%
- Second year rate
- SOFR plus 3.35%
- Previous loan rate
- SOFR plus 2.45%
- Previous loan value
- 155000000
- Remaining term rate
- SOFR plus 3.85%
- Previous loan maturity
- November 2026
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.