NYSE:VNOOffice REITs
Does Vornado’s (VNO) Union Square South Refinancing Signal a Shift in Long-Term Debt Strategy?
On August 12, 2025, Vornado Realty Trust announced it had completed a US$120 million refinancing for the 204,000 square foot 4 Union Square South retail property in Manhattan, securing a ten-year, interest-only loan at a fixed rate of 5.64%.
This refinancing replaces a maturing floating-rate loan and provides Vornado with long-term financing stability at a slightly lower fixed rate, addressing upcoming debt maturities and enhancing financial flexibility as commercial real estate financing...