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Vornado REIT lands refi for Rego Park Center

Bank of China provided Alexander’s with the debt

61-35 Junction Boulevard (Credit: Rego Park Center)

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).

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