Vornado Extends $375 Million Loan on 888 Seventh Avenue

NEW YORK, May 28, 2019 (GLOBE NEWSWIRE) -- VORNADO REALTY TRUST VNO announced today that it has completed an extension of the $375 million loan on 888 Seventh Avenue, an 886,000 square foot Manhattan office building.  The new amortizing loan matures in December 2025 and is at LIBOR plus 1.70% (fixed at 3.25% through December 2020).

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

CONTACT:
JOSEPH MACNOW
(212) 894-7000

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.  For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see "Risk Factors" in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2018.  Such factors include, among others, risks associated with the timing of and costs associated with property improvements, financing commitments and general competitive factors.