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Vornado refinances retail portion of Manhattan, NY, building

Vornado RealtyTrust obtained a $60 million loan to refinance three retail unitsat its 11 East 68th St. property in Manhattan, N.Y., The Real Deal reported, citing city property records.

The retail units are within the 109,000-square-foot UpperEast Side building jointly acquiredby the company and HFZ Capital Group for $170 million in 2012. HFZ Capitalbought the property's 41 apartments, and Vornado purchased the retailcomponent, which includes three retail condos aggregating 10,855 square feet.

The loan was provided by German lender Dekabank, accordingto the publication.