Company: SLG-PI
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001040971-25-000031
Chunk: 16

Company: SL GREEN REALTY CORP
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 16
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 on early extinguishment of debt

During the six months ended June 30, 2024, we recognized a ($17.8 million) gain on discounted debt extinguishment at 719 Seventh Avenue.

Loan loss and other investment reserves, net of recoveries

During the six months ended June 30, 2025, we recognized a loan loss recovery of $71.6 million related to the repayment of the commercial mortgage investment at 522 Fifth Avenue.

Gain on sale of marketable securities

During the six months ended June 30, 2025, we recognized a gain on marketable securities sold during the period  ($10.2 million).

Liquidity and Capital Resources

We currently expect that the principal sources of funds to meet our short-term and long-term liquidity requirements for working capital, acquisitions, development or redevelopment of properties, tenant improvements, leasing costs, dividends to shareholders, distributions to unitholders, repurchases or repayments of outstanding indebtedness and for debt and preferred equity investments will include:

(1)Cash flow from operations;

(2)Cash on hand;

(3)Net proceeds from divestitures of properties and redemptions, participations, dispositions and repayments of debt and preferred equity investments;

(4)Borrowings under the revolving credit facility;

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(5)Other forms of secured or unsecured financing; and

(6)Proceeds from common or preferred equity or debt offerings by the Company or the Operating Partnership (including issuances of units of limited partnership interest in the Operating Partnership and Trust preferred securities).

Cash flow from operations is primarily dependent upon the collectability of rent, the occupancy level of our portfolio, the net effective rental rates achieved on our leases, the collectability of rent, operating escalations and recoveries from our tenants and the level of operating and other costs. Additionally, we believe that our debt and preferred equity investment program will continue to serve as a source of operating cash flow.

The combined aggregate principal maturities of mortgages and other loans payable, the 2021 credit facility, senior unsecured notes (net of discount), trust preferred securities, our share of joint venture debt, including as-of-right extension options, estimated interest expense, and our obligations under our financing and operating leases, as of June 30, 2025 are as follows (in thousands):

Remaining 20252026202720282029ThereafterTotalProperty mortgages and other loans$370,000 $190,148 $926,153 $