{"id":837202,"date":"2025-04-14T18:19:56","date_gmt":"2025-04-14T22:19:56","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/vornados-retail-jv-completes-450-million-financing-of-1535-broadway\/"},"modified":"2025-04-14T18:19:56","modified_gmt":"2025-04-14T22:19:56","slug":"vornados-retail-jv-completes-450-million-financing-of-1535-broadway","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/vornados-retail-jv-completes-450-million-financing-of-1535-broadway\/","title":{"rendered":"Vornado\u2019s Retail JV Completes $450 Million Financing of 1535 Broadway"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">NEW YORK, April  14, 2025  (GLOBE NEWSWIRE) &#8212; Vornado Realty Trust (NYSE:VNO) announced today that its 52% owned street retail joint venture has completed a $450 million financing of 1535\u00a0Broadway, a premier Times Square retail destination with full blockfront 4K LED signage. The interest only, non\u2013recourse loan carries a fixed rate of 6.90% and matures in May 2030.<\/p>\n<p align=\"justify\">After transaction costs and reserves, $407 million of the net proceeds from the financing were used to partially redeem Vornado\u2019s Retail JV preferred equity.<\/p>\n<p align=\"justify\">Vornado Realty Trust is a fully-integrated equity real estate investment trust.<\/p>\n<p>\n        <strong>CONTACT<\/strong>\n      <\/p>\n<p>Thomas J. Sanelli<br \/>(212) 894-7000<\/p>\n<p align=\"justify\">Certain statements contained herein may constitute \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as &#8220;approximates,&#8221; &#8220;believes,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;estimates,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;would,&#8221; &#8220;may&#8221; or other similar expressions in this press release. For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see \u201cRisk Factors\u201d in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2024. Currently, some of the factors are the increased interest rates and inflation on our business, financial condition, results of operations, cash flows, operating performance and the effect that these factors have had and may continue to have on our tenants, the global, national, regional and local economies and financial markets and the real estate market in general.<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQyMjMzNCM2ODY2NTA1IzIwMDgxNzI=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/Yjk1MTE0YmQtOThkYi00YWEwLWI5NmYtNTE3ODI0ZWYzNjYyLTEwMTk3NDUtMjAyNS0wNC0xNC1lbg==\/tiny\/Vornado-Realty-Trust.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, April 14, 2025 (GLOBE NEWSWIRE) &#8212; Vornado Realty Trust (NYSE:VNO) announced today that its 52% owned street retail joint venture has completed a $450 million financing of 1535\u00a0Broadway, a premier Times Square retail destination with full blockfront 4K LED signage. The interest only, non\u2013recourse loan carries a fixed rate of 6.90% and matures in May 2030. After transaction costs and reserves, $407 million of the net proceeds from the financing were used to partially redeem Vornado\u2019s Retail JV preferred equity. Vornado Realty Trust is a fully-integrated equity real estate investment trust. CONTACT Thomas J. Sanelli(212) 894-7000 Certain statements contained herein may constitute \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/vornados-retail-jv-completes-450-million-financing-of-1535-broadway\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Vornado\u2019s Retail JV Completes $450 Million Financing of 1535 Broadway&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-837202","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vornado\u2019s Retail JV Completes $450 Million Financing of 1535 Broadway - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/vornados-retail-jv-completes-450-million-financing-of-1535-broadway\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vornado\u2019s Retail JV Completes $450 Million Financing of 1535 Broadway - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, April 14, 2025 (GLOBE NEWSWIRE) &#8212; Vornado Realty Trust (NYSE:VNO) announced today that its 52% owned street retail joint venture has completed a $450 million financing of 1535\u00a0Broadway, a premier Times Square retail destination with full blockfront 4K LED signage. The interest only, non\u2013recourse loan carries a fixed rate of 6.90% and matures in May 2030. After transaction costs and reserves, $407 million of the net proceeds from the financing were used to partially redeem Vornado\u2019s Retail JV preferred equity. Vornado Realty Trust is a fully-integrated equity real estate investment trust. CONTACT Thomas J. Sanelli(212) 894-7000 Certain statements contained herein may constitute \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. 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