Company: SLG-PI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001040971-25-000022
Chunk: 68

Company: SL GREEN REALTY CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 68
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 maturity date of the loan was extended to July 2025.(6)The loan is a $1.25 billion construction facility, which was fully extended to November 2027. Advances under the loan are subject to costs incurred. In conjunction with the loan, the Company provided partial guarantees for interest and principal payments, the amounts of which are based on certain construction milestones and operating metrics. (7)The Company's joint venture partner is in discussions with the lender on resolution of the past maturity.(8)The Company is in discussions with the lender on resolution of the past maturity.

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Table of ContentsSL Green Realty Corp. and SL Green Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)March 31, 2025(unaudited)

We receive fees for providing management, leasing, construction supervision and asset management services to certain of our joint ventures. We earned $2.6 million and $4.9 million from these services, net of our ownership share of the joint ventures, for the three months ended March 31, 2025, and 2024 respectively. In addition, we have the ability to earn incentive fees based on the ultimate financial performance of certain of the joint venture properties.The combined balance sheets for the unconsolidated joint ventures, at March 31, 2025 and December 31, 2024 are as follows (in thousands):March 31, 2025December 31, 2024Assets (1)Commercial real estate property, net$15,304,874 $15,327,542 Cash and restricted cash633,725 649,426 Tenant and other receivables, related party receivables, and deferred rents receivable652,409 621,748 Debt and preferred equity investments, net241,921 236,512 Right-of-use assets913,639 919,658 Other assets1,684,051 1,739,549 Total assets$19,430,619 $19,494,435 Liabilities and equity (1)Mortgages and other loans payable, net$12,270,945 $12,234,261 Deferred revenue945,454 956,217 Lease liabilities1,004,846 1,008,085 Other liabilities434,038 519,582 Equity4,775,336 4,776,290 Total liabilities and equity$19,430,619 $19