Vornado Nails Down $390M Loan For 666 Fifth Ave. Condo

Law360, New York (February 22, 2013, 2:20 PM EST) -- Vornado Realty Trust has closed on a $390 million financing of its retail condominium at 666 Fifth Ave., about two months after acquiring the 41-story building from Crown Acquisitions Inc. and Carlyle Group LP, it said Thursday.

The financing comes in the form of a 10-year interest-only loan at 3.61 percent and the net proceeds were about $387 million, according to the real estate investment trust.

Vornado bought the retail portion of the building in December in a near-record deal, paying $707 million. It added more...
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