New York-based REIT Alexander's completes US$250M refinancing of 1.2 million sq. ft. Kings Plaza in Brooklyn

PARAMUS, New Jersey , June 13, 2011 (press release) – ALEXANDER’S, INC. (New York Stock Exchange: ALX) announced today that it has completed a $250 million refinancing of the 1.2 million square foot Kings Plaza Mall located in Brooklyn, New York. The five-year interest-only loan is at LIBOR plus 1.70%. The Company realized net proceeds of approximately $95 million after repaying the existing loan and costs.

Alexander’s, Inc. is a real estate investment trust that has seven properties in the greater New York City metropolitan area.

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