NYSE:ALXRetail REITs
The Bull Case For Alexander's (ALX) Could Change Following Rego Park II Debt Refinancing Extension
Alexander’s, Inc. recently completed a US$175 million refinancing of its 615,000 square foot Rego Park II shopping center in Queens, New York, replacing a prior US$198.5 million loan and extending the maturity to December 2030 at an interest-only rate of SOFR plus 2.00%, currently 5.82%.
By paying down US$23.5 million of principal while pushing out the loan’s maturity by five years, the REIT is reshaping its debt profile around one of its five New York City properties, with implications for...