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Alexander's closes on $253M refinancing for NYC shopping center

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Alexander's closes on $253M refinancing for NYC shopping center

Alexander's Inc. completed a $252.5 million refinancing of its 609,000-square-foot Rego Park II shopping center in Queens, N.Y.

The loan bears interest at London interbank offered rate plus 1.35%, matures in December 2025, and was used to pay down an existing loan on the property, which bore interest at Libor plus 1.85% and was due in January 2019.