News about SLG

SL Green Realty Corp. (NYSE: SLG) and its partner, a U.S. affiliate of Mori Trust Co., Ltd, announced a $2.0 billion refinancing of 245 Park Avenue. The five-year fixed-rate loan was priced at a spread of 147 basis points above the US treasury index, giving an interest rate of 6.52%, or an effective 6.37% after SL Green hedged its share. The single asset, single borrower (SASB) CMBS deal was led by JPMorgan Chase Bank, N.A. and replaces the property's previous $1.768 billion of mortgage and mezzanine financing. The 1.8 million-square-foot, 44-story tower is 100% leased to tenants including Société Générale, Ares Management, Carlyle and EQT Partners. President and CIO Harrison Sitomer said the deal brings the $7.0 billion 2026 financing plan close to completion, with redevelopment expected to finish in the first quarter of 2027.