Vornado Completes $580 Million Refinancing of 100 West 33rd Street Realizing $242 Million of Net Proceeds

PARAMUS, NJ--(Marketwired - July 29, 2015) - VORNADO REALTY TRUST (NYSE: VNO) announced today that it has completed a $580 million refinancing of 100 West 33rd Street, a 1.1 million square foot property comprised of 851,000 square feet of office space and the 256,000 square foot Manhattan Mall.

The loan is interest only at LIBOR + 1.65%, and matures in July 2020. The Company realized net proceeds of approximately $242 million.

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

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. Such factors include, among others, risks associated with the timing of and costs associated with property improvements, financing commitments and general competitive factors.