Alexander's Inc. has completed a $175 million refinancing of its 615,000 square foot Rego Park II shopping center in Queens, New York. The new interest-only loan carries a rate of SOFR plus 2.00%, currently 5.82%, and matures in December 2030. As part of the refinancing, Alexander's paid down $23.5 million from the previous $198.5 million loan, which had an interest rate of SOFR plus 1.45% and was set to mature in December 2025. Alexander's Inc. is a real estate investment trust with five properties in New York City.
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