VORNADO RLTY : Vornado Completes $600 Million Refinancing of 555 California Street

SEPTEMBER 06, 2011 Vornado Completes $600 Million Refinancing of 555 California Street PARAMUS, NEW JERSEY.......VORNADO REALTY TRUST (NYSE:VNO) announced today that it has completed a $600 million refinancing of 555 California Street, a three-building office complex aggregating 1.8 million square feet in San Francisco’s financial district, known as the Bank of America Center, in which Vornado owns a 70% controlling interest. The 10-year loan bears interest at 5.10%. The loan amortizes based on a 30-year schedule beginning in the 4th year. The proceeds of the new loan and $45 million of existing cash were used to repay the existing loan and closing costs. Vornado Realty Trust is a fully integrated equity real estate investment trust.