Company: SLG-PI
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001040971-25-000010
Chunk: 85

Company: SL GREEN REALTY CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 85
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53,687 50,000 December 2025Mezzanine Loan4,603 190,021 54,482 48,323 January 2026Mezzanine Loan— — — 62,333 May 2024Total floating rate$4,603 $527,021 $117,160 $168,899  Allowance for loan loss$— $— $(13,520)$(13,520)Total$4,603 $812,021 $167,006 $218,745 (1)Carrying value is net of discounts, premiums, original issue discounts and deferred origination fees.(2)Represents contractual maturity, excluding any extension options to the extent they have not been exercised as of the date of this filing.(3)Carrying value is net of a $12.0 million participation that was sold and did not meet the conditions for sale accounting, which is included in Other assets and Other liabilities on the consolidated balance sheets.(4)This loan went into default and was put on non-accrual in June 2020 and remains on non-accrual as of December 31, 2024. No investment income has been recognized subsequent to it being put on non-accrual. In the first quarter of 2023, the Company fully reserved the balance of the investment. Additionally, we determined the borrower entity to be a VIE in which we are not the primary beneficiary.(5)Included in the Company's alternative strategy portfolio.(6)The Company is in discussions with the borrower with respect to the loan.(7)This loan was put on non-accrual in January 2023 and remains on non-accrual as of December 31, 2024. No investment income has been recognized since it was put on non-accrual. In December 2024, the maturity date of the loan was extended to December 2025. Additionally, we determined the borrower entity to be a VIE in which we are not the primary beneficiary.Preferred Equity InvestmentsAs of December 31, 2024 and 2023, we held the following preferred equity investments with an aggregate weighted average current yield of 6.55% as of December 31, 2024 (dollars in thousands), excluding a $214.7 million preferred equity investment that is included in Investment in unconsolidated joint ventures in our consolidated balance sheet:December