Vornado Realty Trust is involved in its second single-property securitization of a premier New York office site this week.

On Wednesday, Standard & Poor’s and Morningstar Credit Ratings assigned preliminary ratings to VNDO Trust 2016-350P, a five-tranche, $223.3 million bond issuance notes that collateralize part of a $400 million mortgage for a Vornado-owned office building at 350 Park Ave along “Hedge Fund Alley” in midtown Manhattan.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.