Vornado Boosts Strength With Refinancing of PENN 11 Building

Key Takeaways Vornado completed a $450M refinancing for its 1.2M-sq-ft Manhattan office building, PENN 11. The new loan matures in 2030 with a fixed 6.35% interest rate, replacing prior loan maturing in October 2025. VNO to gain improved liquidity and a stronger debt maturity profile with this refinancing move.Vornado Realty Trust, Inc. (VNO) announced that it has completed a refinancing of$ 450 million for PENN 11, a Manhattan office building encompassing 1.2 million square feet of space located in THE P ...