Bank of China provided Alexander’s with the debt
Alexander’s, a real estate investment trust controlled by Vornado, has secured a $252.5 million loan from Bank of China to refinance Rego Park Center at 61-35 Junction Boulevard. The shopping center spans 609,000 SF, with retail rents ranging between $53 to $65 per SF, according to CO.
Financing details: The interest-only loan carries a rate of 3.77 percent and is set to mature in December 2025. It replaces a previous mortgage from the same bank.
Tenants include… A Costco supermarket (145,000 SF), a Kohl’s department store (133,000 SF). There is roughly 130,800 SF of leasable retail area currently available. Century 21 also leases office space on the property’s third floor (135,000 SF).