Vornado Realty Trust landed $500 million from the Bank of China for three of its retail properties, including 640 Fifth Avenue. In April, the real estate investment trust sold a minority stake in its Fifth Avenue and Times Square retail portfolio— which includes the office and retail tower at 640 Fifth — in a deal that valued the assets at about $5.6 billion. Vornado transferred 45.4 percent common equity interest in the portfolio to a […]
source https://therealdeal.com/2019/06/07/bank-of-china-issues-500m-to-vornado-in-refi-of-640-fifth-avenue/
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