Company: SLG-PI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001040971-25-000022
Chunk: 62

Company: SL GREEN REALTY CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 62
---
Table of ContentsSL Green Realty Corp. and SL Green Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)March 31, 2025(unaudited)

(2)Represents contractual maturity, excluding any extension options to the extent they have not been exercised as of the date of this filing.(3)This loan went into default and was put on non-accrual in June 2020 and remains on non-accrual as of March 31, 2025. No investment income has been recognized subsequent to it being put on non-accrual. In the first quarter of 2023, the Company fully reserved the balance of the investment. Additionally, we determined the borrower entity to be a VIE, in which we are not the primary beneficiary.(4)Included in the Company's alternative strategy portfolio.(5)In April 2025, the maturity date of the loan was extended to July 2027.(6)This loan went into default and was put on non-accrual in January 2025 and remains on non-accrual as of March 31, 2025. No investment income has been recognized subsequent to it being put on non-accrual. The Company is in discussions with the borrower with respect to the loan.(7)This loan went into default and was put on non-accrual in January 2023 and remains on non-accrual as of March 31, 2025. No investment income has been recognized subsequent to it being put on non-accrual. In December 2024, the maturity date of the loan was extended to December 2025. Additionally, we determined the borrower entity to be a VIE in which we are not the primary beneficiary.Preferred Equity InvestmentsAs of March 31, 2025 and December 31, 2024, we held the following consolidated preferred equity investment with an aggregate weighted average current yield of 6.55% as of March 31, 2025 (dollars in thousands), excluding a $219.4 million preferred equity investment that is included in Investment in unconsolidated joint ventures in our consolidated balance sheet:TypeMarch 31, 2025Future FundingObligationsMarch 31, 2025 SeniorFinancingMarch 31, 2025Carrying Value (1)December 31, 2024Carrying Value (1)Mandatory Redemption (2)Preferred Equity$—