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NEW YORK CITY-Just weeks after the REIT revealed its plans for a major upgrade of the trophy property, Vornado Realty Trust has secured a $950-million refi on its loan, collecting some $522 million after repayment of the existing loan and closing costs. The 10-year note bears a 3.3% interest rate. The REIT has a 70% controlling interest in the asset, which GlobeSt.com reported recently is undergoing a major “Wow-factor” upgrade to its lobby. The Trump Organization owns the remaining interest, according to Trump spokespeople.

Vornado would not reveal details of the loan and the providers.

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