Vornado Completes $140 Million Financing of 655 Fifth Avenue

PARAMUS, N.J.--(BUSINESS WIRE)--

VORNADO REALTY TRUST VNO announced today that it has completed a $140 million financing of 655 Fifth Avenue, a 57,500 square foot retail and office property at the northeast corner of Fifth Avenue and 52^nd Street in Manhattan. The loan is interest only at LIBOR plus 1.40% and matures in 2019 with two one-year extensions options. Vornado owns 92.5% of this property.

Vornado Realty Trust is a fully integrated equity real estate investment trust.

Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with the timing of and costs associated with property improvements, financing commitments and general competitive factors.