Company: SLG-PI
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001040971-25-000031
Chunk: 72

Company: SL GREEN REALTY CORP
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 72
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 Avenue (6 Condominium Units)Multiple During Q1 2025Fee Interest19,185 $99.3 $0.2 (1)Sales price represents the gross sales price for a property or the gross asset valuation for interests in a property.

5. Debt and Preferred Equity Investments

Below is a summary of the activity in our consolidated debt and preferred equity investments for the six months ended June 30, 2025 and the twelve months ended December 31, 2024 (in thousands):June 30, 2025December 31, 2024Balance at beginning of year (1)$303,726 $346,745 Debt investment originations/fundings/accretion (2)13,240 12,890 Preferred equity investment originations/accretion (2) (3)2,233 8,720 Redemptions/sales/syndications/equity ownership/amortization(3,215)(64,629)Net change in loan loss reserves(300)— Balance at end of period (1) (4)$315,684 $303,726 (1)Net of unamortized fees, discounts, and premiums.(2)Accretion includes amortization of fees and discounts and paid-in-kind investment income.(3)Excludes a $209.7 million preferred equity investment that is included in "Investment in unconsolidated joint ventures" in our consolidated balance sheet. See Note 6, "Investments in Unconsolidated Joint Ventures."(4)Includes one investment with a total carrying value of $53.5 million that is included in the Company's alternative strategy portfolio.Below is a summary of our consolidated debt and preferred equity investments as of June 30, 2025 (dollars in thousands):Floating RateFixed RateTotal Carrying ValueSenior FinancingMaturity (2)TypeCarrying ValueFace ValueInterest Rate (1)Carrying ValueFace ValueInterest RateMezzanine Debt$130,245 $130,812 S + 5.06% - 11.63%$46,485 $46,786 0.00% - 9.00%$176,730 (3)$708,671 2025 - 2029Preferred Equity (4)— — —138,954 138,954 6.5%138,954 250,000 2027Balance at end of period$