Company: SLG-PI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001040971-25-000022
Chunk: 74

Company: SL GREEN REALTY CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 74
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 of the Operating Partnership. The securities mature in 2035 and bear interest at a floating rate of 26 basis points over the three-month Term SOFR. Interest payments may be deferred for a period of up to eight consecutive quarters if the Operating Partnership exercises its right to defer such payments. The Trust preferred securities are redeemable at the option of the Operating Partnership, in whole or in part, with no prepayment premium. We do not consolidate the Trust even though it is a variable interest entity as we are not the primary beneficiary. Because the Trust is not consolidated, we have recorded the debt on our consolidated balance sheets and the related payments are classified as interest expense.Principal MaturitiesCombined aggregate principal maturities of mortgages and other loans payable, the 2021 credit facility, trust preferred securities, senior unsecured notes and our share of joint venture debt as of March 31, 2025, including as-of-right extension options but excluding other extension options, were as follows (in thousands):ScheduledAmortizationPrincipalRevolvingCreditFacilityUnsecured Term LoansTrustPreferredSecuritiesSeniorUnsecuredNotesTotalJointVentureDebtRemaining 2025$— $370,000 $— $— $— $100,000 $470,000 $1,196,030 2026— 190,148 — 100,000 — — 290,148 936,639 2027— 919,366 490,000 1,050,000 — — 2,459,366 1,718,655 2028— 284,888 — — — — 284,888 382,294 2029— — — — — — — — Thereafter— 272,325 — — 100,000 — 372,325 1,800,300 $— $2,036,727 $490,000 $1,150,000 $100,000 $100,000 $3,876,727 $6,033,918 Consolidated interest expense, excluding capitalized interest, was comprised of the following (in thousands):Three Months Ended March 31,20252024Interest expense before capitalized interest$52,048 $48,869 Interest on financing leases1,134 1,120 Capitalized interest(6,470)(17,949