(The following is a reformatted version of a press release
issued by Alexander’s Inc. and received via electronic mail. The
release was confirmed by the sender.)
March 3, 2014
Alexander’s Completes $300 Million Refinancing of
731 Lexington Avenue Office Space
PARAMUS, NEW JERSEY...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.
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