SL Green Realty Corp. reports developments tied to its role as a Manhattan-focused office real estate investment trust and landlord. News commonly covers office leasing activity across major New York properties, asset management assignments through Green Property Services, development and adaptive reuse projects such as One Madison Avenue, and portfolio exposure to office and select retail real estate.
Company updates also include dividend actions, credit facility refinancing, debt fund and capital-platform activity, operating and financial results, and governance or leadership changes. These announcements reflect SL Green’s recurring focus on leasing, financing, portfolio management, and shareholder distributions within the Manhattan commercial real estate market.
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SL Green Realty Corp. (NYSE: SLG), New York's largest office landlord, has successfully completed refinancing for 919 Third Avenue, a premier 1.5 million square foot office building in Midtown Manhattan. The refinancing involves a $500 million mortgage loan with an interest rate of 6.11% fixed after a swap, with a 3-year term and two one-year extension options. The loan is backed by a lending group led by Aareal Capital Corporation and Credit Agricole Corporate and Investment Bank. This strategic refinancing underscores SL Green's strong market position and access to capital despite current market conditions. The building is currently 80% leased, housing key tenants like Bloomberg L.P. and others.
SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, has declared a monthly dividend of $0.2708 per share, payable on May 15, 2023, to shareholders of record by April 28, 2023. The company focuses on maximizing value through its interests in 60 buildings totaling 33.1 million square feet, comprising 28.8 million square feet in Manhattan and 3.4 million square feet in debt and preferred equity investments as of March 31, 2023. Forward-looking statements made in this release caution investors about the inherent risks and uncertainties in predicting future performance, emphasizing the importance of careful consideration of actual results versus expectations.
SL Green Realty Corp. (NYSE: SLG) reported a net loss attributable to common stockholders of $39.7 million or $0.63 per share for Q1 2023, down from a net income of $7.8 million or $0.11 per share in Q1 2022. Funds from operations (FFO) decreased to $105.5 million or $1.53 per share, compared to $115.8 million or $1.65 per share last year. The company signed 41 office leases covering 504,682 square feet, achieving a 5.3% increase in mark-to-market rents. Same-store cash net operating income (NOI) grew by 3.0%, while occupancy stood at 90.2%. SL Green affirmed its goal of 92.4% occupancy by year-end. The company also earned the 2023 ENERGY STAR Partner of the Year award for six consecutive years, highlighting its commitment to sustainability.
SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, is set to release its earnings for Q1 2023 on April 19, 2023, after market close. A conference call, led by CEO Marc Holliday, will follow on April 20, 2023, at 2:00 PM ET to discuss the financial results. Investors can access supplemental data on the company's website. As of December 31, 2022, SL Green managed 61 properties totaling 33.1 million square feet, with significant interests in Manhattan properties.