Company: SLG-PI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001040971-25-000022
Chunk: 112

Company: SL GREEN REALTY CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 112
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 our development, leasing, financing and property management skills and invest in existing buildings that meet our investment criteria. During the three months ended March 31, 2025, when compared to the three months ended March 31, 2024, we used cash primarily for the following investing activities (in thousands):

Acquisitions of real estate$(112,440)Capital expenditures and capitalized interest(18,923)Acquisition deposits and deferred purchase price12,817 Joint venture investments(12,956)Distributions from joint ventures(62,085)Proceeds from sales of real estate/partial interest in property67,100 Debt and preferred equity and other investments(46,073)Increase in net cash used in investing activities$(172,560)

Funds spent on capital expenditures, which are comprised of building and tenant improvements, increased from $55.3 million for the three months ended March 31, 2024 to $74.2 million for the three months ended March 31, 2025 due to increased spending on development and redevelopment properties.

We generally fund our investment activity through the sale of real estate, the sale or repayment of debt and preferred equity investments, property-level financing, our corporate credit facilities, or construction facilities. From time to time, the Company may issue common or preferred stock or equity-linked securities, or the Operating Partnership may issue common or preferred units of limited partnership interest.

During the three months ended March 31, 2025, when compared to the three months ended March 31, 2024, cash was provided by the following financing activities (in thousands):

Proceeds from our debt obligations$378,760 Repayments of our debt obligations(212,049)Net distribution to noncontrolling interests3,902 Other financing activities(100)Proceeds from stock options exercised and DRSPP issuance(2)Proceeds from issuance of common stock(871)Dividends and distributions paid(6,054)Increase in net cash provided by financing activities$163,586 

Capitalization

Our authorized capital stock consists of 260,000,000 shares, $0.01 par value per share, consisting of 160,000,000 shares of common stock, $0.01 par value per share, 75,000,000 shares of excess stock, at $0.01 par value per share, and 25,000,000 shares of preferred stock, $0.01 par value per share. As of March 31, 202