Company: SLG-PI
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001040971-25-000031
Chunk: 74

Company: SL GREEN REALTY CORP
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 74
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million reversal of the established allowance during the three months ended June 30, 2025. (2)During the three months ended June 30, 2025, an affiliate of the Company and a joint venture partner acquired the outstanding mortgage loan at 1552 Broadway that was in maturity default for $63.0 million, of which our share was $31.5 million. An initial allowance of $132.0 million was established, of which our share was $66.0 million. (3)The Company held a debt investment which was on non-accrual status and fully reserved. During the three months ended June 30, 2025, the Company wrote off the balance of $13.4 million.(4)As of June 30, 2025, all financing receivables on non-accrual had an allowance for loan loss except for one debt investment with a carrying value of $53.5 million, which is included in the Company's alternative strategy portfolio.As of June 30, 2025 and December 31, 2024, one investment, which is fully reserved, was not performing in accordance with its respective terms. This is further discussed in the Debt Investments table below.No other financing receivables were 90 days past due as of June 30, 2025 and December 31, 2024.The following table sets forth the carrying value of our consolidated debt and preferred equity investment portfolio by risk rating as of June 30, 2025 and December 31, 2024 (dollars in thousands):Risk RatingJune 30, 2025December 31, 20241 - Low Risk Assets - Low probability of loss$158,953 $156,720 2 - Watch List Assets - Higher potential for loss (1)156,731 147,006 3 - High Risk Assets - Loss more likely than not— — $315,684 $303,726 (1)Includes one investment with a total carrying value of $53.5 million that is included in the Company's alternative strategy portfolio.The following table sets forth the carrying value of our consolidated debt and preferred equity investment portfolio by year of origination and risk rating as of June 30, 2025 (dollars in thousands):As of June 30, 2025Risk Rating2024 (1)2023 (1)2022 (1)Prior (1)Total1 - Low Risk