Company: SLG-PI
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001040971-25-000031
Chunk: 86

Company: SL GREEN REALTY CORP
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 86
---
635 (1)Reflects exercise of all available extension options. The ability to exercise extension options may be subject to certain conditions, including the operating performance of the property. (2)Interest rate as of June 30, 2025, taking into account interest rate hedges in effect during the period. Floating rate debt is presented with the stated spread over Term SOFR ("S"), unless otherwise specified.(3)The Company is in discussions with the lender on resolution of the past maturity.As of June 30, 2025 and December 31, 2024, the gross book value of the properties collateralizing the mortgages and other loans payable was approximately $2.3 billion and $2.2 billion, respectively.

40

Table of ContentsSL Green Realty Corp. and SL Green Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)June 30, 2025(unaudited)

CMBS Repurchase FacilityIn December 2024, the Company entered into a repurchase facility for CMBS (CMBS Repurchase Facility), which provides us with the ability to sell certain CMBS investments with a simultaneous agreement to repurchase the same at a certain date or on demand. We seek to mitigate risks associated with our repurchase facility by managing the credit quality of our assets, early repayments, interest rate volatility, liquidity, and market value. The margin call provisions under our repurchase facility permit valuation adjustments based on capital markets activity and are not limited to collateral-specific credit marks. To monitor credit risk associated with our CMBS investments, our asset management team regularly reviews our investment portfolio and is in contact with our borrowers in order to monitor the collateral and enforce our rights as necessary. The risk associated with potential margin calls is further mitigated by our ability to collateralize the facility with additional assets from our portfolio of investments, our ability to satisfy margin calls with cash or cash equivalents and our access to additional liquidity. As of June 30, 2025, there have been no margin calls on the CMBS Repurchase Facility. At June 30, 2025, there was no outstanding balance on the facility.

9. Corporate Indebtedness

2021 Credit FacilityIn December 2021, we entered into an amended and restated credit facility, referred to as the 2021 credit facility, that was previously amended by the Company in November 2017, and was originally entered into by the Company in November 2012. As of June 30, 2025, the