Alexander’s Completes $400 Million Refinancing of 731 Lexington Avenue Office Condominium
Alexander's, Inc. (ALX)
US:NYSE Investor Relations:
alx-inc.com
Company Research
Source: GlobeNewswire
PARAMUS, N.J., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Alexander’s, Inc. (NYSE: ALX) today announced that it has completed a $400 million refinancing of the office condominium portion of 731 Lexington Avenue, the Class A Bloomberg LP headquarters building. The interest-only loan carries a fixed rate of 5.045% and matures in October 2028. The loan is prepayable, at Alexander’s option, with no penalty, beginning in October 2026. The loan replaces the prior $490 million loan on the office condominium, that bore interest at the Prime rate (currently 8.00%) and was scheduled to mature in October 2024. Alexander’s, Inc. is a real estate investment trust that has five properties in New York City. CONTACT:GARY HANSEN(201) 587-8541 Certain statements contained herein constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guaran
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