Alexander’s Completes $300 Million Refinancing of 731 Lexington Avenue Office Space

  Alexander’s Completes $300 Million Refinancing of 731 Lexington Avenue
  Office Space

Business Wire

PARAMUS, N.J. -- March 3, 2014

ALEXANDER’S, INC. (NYSE: ALX) announced today that it has completed a $300
million refinancing of the office portion of 731 Lexington Avenue. The
interest-only loan is at LIBOR plus 0.95%, currently 1.10%, and matures in
March 2017, with four one-year extension options. The proceeds of the new loan
were used to repay the existing $312 million 5.33% fixed-rate loan and closing
costs.

Alexander’s, Inc. is a real estate investment trust that has six properties in
the greater New York City metropolitan area.

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. For a discussion of factors that could materially
affect the outcome of our forward-looking statements and our future results
and financial condition, see “Risk Factors” in Part I, Item 1A, of our Annual
Report on Form 10-K for the year ended December 31, 2013. Such factors
include, among others, risks associated with the timing of and costs
associated with property improvements, financing commitments and general
competitive factors.

Contact:

Alexander’s, Inc.
Stephen Theriot, 201-587-8541
 
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