Company: SLG-PI
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047886
Chunk: 138

Company: SL GREEN REALTY CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 138
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 and preferred equity portfolio. These sources generate a relatively consistent stream of cash flow that provides us with resources to pay operating expenses, debt service and fund dividend and distribution requirements.

Cash is used in investing activities to fund acquisitions, development or redevelopment projects and recurring and nonrecurring capital expenditures. We selectively invest in new projects that enable us to take advantage of our development, leasing, financing and property management skills and invest in existing buildings that meet our investment criteria. During the nine months ended September 30, 2025, when compared to the nine months ended September 30, 2024, we used cash primarily for the following investing activities (in thousands):

Acquisitions of real estate$(110,380)Capital expenditures and capitalized interest(20,261)Acquisition deposits and deferred purchase price2,767 Joint venture investments226,365 Distributions from joint ventures(5,585)Proceeds from sales of real estate/partial interest in property(265,983)Cash and restricted cash assumed from consolidation of real estate investment4,163 Debt and preferred equity and other investments165,288 Increase in net cash used in investing activities$(3,626)

Funds spent on capital expenditures, which are comprised of building and tenant improvements, increased from $162.7 million for the nine months ended September 30, 2024 to $183.0 million for the nine months ended September 30, 2025 due to increased spending on development and redevelopment properties. 

We generally fund our investment activity through the sale of real estate, the sale or repayment of debt and preferred equity investments, property-level financing, our corporate credit facilities, or construction facilities. From time to time, the Company may issue common or preferred stock or equity-linked securities, or the Operating Partnership may issue common or preferred units of limited partnership interest.

During the nine months ended September 30, 2025, when compared to the nine months ended September 30, 2024, we used cash primarily for the following financing activities (in thousands):

Proceeds from our debt obligations$(156,497)Repayments of our debt obligations174,442 Net distribution to noncontrolling interests89,519 Other financing activities(7,871)Proceeds from stock options exercised and DRSPP issuance(14,102)Proceeds from issuance of common stock(871)Dividends and distributions paid(18,195)Increase in net cash provided by financing activities$66,425 

Capitalization

Our authorized capital stock consists of