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NEW YORK CITY-Vornado Realty Trust said Wednesday it had completed a refinancing on 4 Union Square South, a 206,000-square-foot retail property it developed and owns. The seven-year loan for $120 million bears interest at Libor plus 2.15% and amortizes on a 30-year schedule beginning in the third year, according to a release from the REIT. The lender was not disclosed; the release states that Vornado realized net proceeds of $42 million after repaying the existing loan.

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