Company: SLG-PI
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001040971-25-000010
Chunk: 94

Company: SL GREEN REALTY CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 94
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 ventures, for the years ended December 31, 2024, 2023, and 2022, respectively. In addition, we have the ability to earn incentive fees based on the ultimate financial performance of certain of the joint venture properties.The combined balance sheets for the unconsolidated joint ventures, as of December 31, 2024 and 2023, are as follows (in thousands):December 31, 2024December 31, 2023Assets (1)Commercial real estate property, net$15,327,542 $17,561,406 Cash and restricted cash649,426 656,038 Tenant and other receivables, related party receivables, and deferred rents receivable621,748 673,532 Debt and preferred equity investments, net236,512 — Right-of-use assets919,658 905,934 Other assets1,739,549 2,584,765 Total assets$19,494,435 $22,381,675 Liabilities and equity (1)Mortgages and other loans payable, net$12,234,261 $14,799,277 Deferred revenue956,217 1,108,180 Lease liabilities1,008,085 990,276 Other liabilities519,582 447,705 Equity4,776,290 5,036,237 Total liabilities and equity$19,494,435 $22,381,675 Company's investments in unconsolidated joint ventures$2,690,138 $2,983,313 (1)As of December 31, 2024, $480.8 million of net unamortized basis differences between the amount at which our investments are carried and our share of equity in net assets of the underlying property will be amortized through equity in net income (loss) from unconsolidated joint ventures over the remaining life of the underlying items having given rise to the differences.The combined statements of operations for the unconsolidated joint ventures, from acquisition date through the years ended December 31, 2024, 2023, and 2022 are as follows (unaudited, in thousands):Year Ended December 31,202420232022Total revenues$1,484,459 $1,525,044 $1,339,364 Operating expenses259,558 253,630 240,002 Real