Company: SLG-PI
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001040971-25-000031
Chunk: 58

Company: SL GREEN REALTY CORP
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 58
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 resulting from the allocation of the purchase price of the applicable properties. For the three and six months ended June 30, 2024, we recognized a reduction of rental revenue of $0.9 million and $0.9 million, respectively, for the amortization of aggregate above-market leases in excess of below-market leases.

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Table of ContentsSL Green Realty Corp. and SL Green Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)June 30, 2025(unaudited)

The following summarizes our identified intangible assets (acquired above-market leases and in-place leases) and intangible liabilities (acquired below-market leases) as of June 30, 2025 and December 31, 2024 (in thousands):June 30, 2025December 31, 2024Identified intangible assets (included in other assets):Gross amount$405,682 $378,277 Accumulated amortization(215,029)(197,211)Net$190,653 $181,066 Identified intangible liabilities (included in deferred revenue):Gross amount$249,564 $243,703 Accumulated amortization(206,892)(204,092)Net$42,672 $39,611         Cash and Cash EquivalentsWe consider all highly liquid investments with maturity of three months or less when purchased to be cash equivalents.Restricted CashRestricted cash primarily consists of security deposits held on behalf of our tenants, interest reserves, as well as capital improvement and real estate tax escrows required under certain loan agreements.Fair Value MeasurementsSee Note 16, "Fair Value Measurements."Debt Fund InvestmentsWe, through wholly-owned subsidiaries, are the general partner and investment manager of SLG Opportunistic Debt Fund LP and SLG Opportunistic Debt Parallel Fund LP (collectively, the "Fund"). The Fund is accounted for under ASC Topic 946, Financial Services - Investment Companies ("ASC 946") and its investments are reported on our balance sheet at fair value, with changes in value each period recognized on the income statement. We consolidate the accounts of the Fund into our consolidated financial statements, retaining the fair value basis of accounting. See Note 7, "Debt Fund."Investment in Marketable SecuritiesAt acquisition, we designate a debt security as held-to-maturity, available-for-sale, or trading. As of June 30, 2025, we did not have any debt securities