Company: SLG-PI
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001040971-25-000010
Chunk: 96

Company: SL GREEN REALTY CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 96
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74.25%450,000 450,000 420 Lexington AvenueOctober 2040October 20408.24%272,326 277,238 Total fixed rate debt$1,587,474 $1,387,386 Floating Rate Debt:CMBS Repurchase FacilityJune 2025June 2025S+1.75%$3,550 $— 100 Park AvenueJune 2025December 2027S+2.25%360,000 — 690 Madison Avenue— 60,000 719 Seventh Avenue— 50,000 Total floating rate debt$363,550 $110,000 Total mortgages and other loans payable$1,951,024 $1,497,386 Deferred financing costs, net of amortization(6,389)(6,067)Total mortgages and other loans payable, net$1,944,635 $1,491,319 (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 December 31, 2024, 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.As of December 31, 2024 and 2023, the gross book value of the properties collateralizing the mortgages and other loans payable was approximately $2.2 billion and $1.9 billion, respectively.CMBS Securities Repurchase FacilityIn December 2024, the Company entered into a repurchase facility for CMBS securities (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