Company: SLG-PI
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001040971-25-000010
Chunk: 221

Company: SL GREEN REALTY CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 221
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PP.

43

Indebtedness

The table below summarizes our consolidated mortgages and other loans payable, 2021 credit facility, 2022 term loan, senior unsecured notes and trust preferred securities outstanding as of December 31, 2024 and 2023, (amounts in thousands).

Debt Summary:December 31, 2024December 31, 2023BalanceFixed rate$1,182,474$1,117,386Variable rate—hedged2,075,0002,120,000Total fixed rate3,257,4743,237,386Total variable rate363,550270,000Total debt$3,621,024$3,507,386Debt, preferred equity, and other investments subject to variable rate117,006168,745Net exposure to variable rate debt246,544101,255Percent of Total Debt:Fixed rate90.0 %92.3 %Variable rate (1)10.0 %7.7 %Total100.0 %100.0 %Effective Interest Rate for the Year:Fixed rate5.18 %4.68 %Variable rate5.17 %6.11 %Effective interest rate5.17 %4.71 %

(1)    Inclusive of the mitigating effect of our debt, preferred equity, and other investments subject to variable rates, the percent of total debt of our net exposure to variable rate debt was 7.0% and 3.0% as of December 31, 2024 and December 31, 2023, respectively.

The variable rate debt shown above generally bears interest at an interest rate based on adjusted Term SOFR (4.33% and 5.35% as of December 31, 2024 and 2023, respectively). Our consolidated debt as of December 31, 2024 had a weighted average term to maturity of 2.80 years.

Certain of our debt and equity investments and other investments, with carrying values of $117.0 million as of December 31, 2024 and $168.7 million as of December 31, 2023, are variable rate investments which mitigate our exposure to interest rate changes on our unhedged variable rate debt. Inclusive of the mitigating effect of these investments, the net ratio of our consolidated variable rate debt to total debt was 7.0% and 3.0% as of December