Kushner, Vornado Pour $110M Into Skyscraper Refinancing

Law360, New York (December 16, 2011, 4:49 PM EST) -- Vornado Realty Trust and real estate developer Kushner Cos. have formed a $110 million joint venture to refinance a $1.2 billion mortgage loan on the 39-story Manhattan building Kushner bought in a record-setting deal in 2007, Vornado said Friday.

The loan has been split into two separate tranches — a $1.1 billion A note and a $115 million B note — and its maturity date has been extended to February 2019, in an effort to recapitalize on the office portion of the building at 666 Fifth...
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