Vornado Realty Trust has secured a $600 million refinancing for an office complex in San Francisco’s financial district. Vornado owns a 70 percent interest in the complex known as the Bank of America Center. The 10-year loan bears interest at 5.10 percent.
The loan amortizes based on a 30-year schedule beginning in the fourth year. The company uses the loan proceeds and $45 million of existing cash to repay the existing loan and closing costs. The property’s current tenants include Bank of America Corp., Dodge & Cox, Goldman Sachs, Fenwick &West, Kirkland &Ellis and McKinsey & Co., adds GlobeSt.