SL Green Completes Loan Modification at One Madison Avenue
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 03 2024
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Should l Buy SLG?
Source: Newsfilter
Mortgage Facility Modification: SL Green Realty Corp. announced the modification and extension of a $1.25 billion mortgage facility on One Madison Avenue, extending the maturity date to November 2027 while maintaining an interest rate of 3.10% over Term SOFR.
High Demand and Amenities: One Madison Avenue is fully leased for its tower floors and retail spaces, attracting major tenants with its wellness-focused design and unique amenities, including a rooftop garden and a new steakhouse by Chef Daniel Boulud.
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Analyst Views on SLG
Wall Street analysts forecast SLG stock price to rise
15 Analyst Rating
5 Buy
9 Hold
1 Sell
Moderate Buy
Current: 35.330
Low
42.00
Averages
54.40
High
66.00
Current: 35.330
Low
42.00
Averages
54.40
High
66.00
About SLG
SL Green Realty Corp. is a fully integrated real estate investment trust. The Company is engaged in the ownership, management, operation, acquisition, development, redevelopment, and repositioning of commercial real estate properties, principally office properties, located in the New York metropolitan area, principally Manhattan. Its segments include real estate, debt and preferred equity investments, and SUMMIT. Its primary business objective is to maximize the total return to stockholders, through dividends, earnings, and asset value appreciation. The Company holds interests in 54 buildings totaling 30.6 million square feet. This included ownership interests in 27.0 million square feet of Manhattan buildings and 2.8 million square feet securing debt and preferred equity investments. Its properties include 1185 Avenue of the Americas, 810 Seventh Avenue, 711 Third Avenue, and 555 West 57th Street, 1350 Avenue of the Americas, and 10 East 53rd Street.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
SL Green Realty Completes $1.65B Refinancing of One Madison Avenue
- Financing Completion: SL Green Realty announced the completion of a $1.65 billion refinancing for One Madison Avenue, securing a five-year fixed-rate loan at 5.81%, which is 181 basis points above the U.S. Treasury index, demonstrating the company's financing capability in the current market environment.
- Transaction Background: This refinancing replaces a $1.25 billion construction loan with a balance of $1.171 billion, expected to close in Q1 2026, indicating the company's strategic intent in asset management and financial structure optimization.
- Key Participants: The transaction was executed as a single-asset, single-borrower CMBS deal, led by Wells Fargo, with participation from Goldman Sachs, J.P. Morgan, Bank of America, Deutsche Bank, and Crédit Agricole, reflecting market confidence in SL Green.
- Market Reaction: Despite the successful financing, SL Green's shares fell by 2.17%, indicating market concerns regarding the company's future performance and potential dividend cuts, which may affect investor confidence and stock price performance.
See More
SL Green Realty Corp Anticipates New Financing to Finalize in Q1 2026, Substituting $1.25 Billion Facility
- New Financing Announcement: Green Realty Corp is expected to close a new financing deal in the first quarter of 2026.
- Significant Investment: The financing will replace a facility valued at $1.25 billion.
See More
SL Green Realty Corp Secures Five-Year Financing at 5.81% Interest Rate
- Financing Overview: S.L.G.R.E.E.N Realty Corp has announced a five-year financing plan.
- Interest Rate Details: The financing is priced at an interest rate of 5.81%.
See More
SL Green Secures $1.65 Billion Refinancing for One Madison Avenue
- Financing Announcement: SL Green has secured financing for the One Madison Avenue project.
- Total Amount: The financing amounts to $1.65 billion.
See More
Ennis Declares Quarterly Cash Dividend
- Dividend Declaration: Ennis's Board of Directors has declared a cash dividend of $0.25 per share, payable on May 4, 2026, which aims to reward shareholders and enhance investor confidence.
- Record Date for Shareholders: The record date for this dividend is April 13, 2026, ensuring that shareholders holding stock before this date will receive the dividend, thereby stabilizing the shareholder base.
- Mesa Royalty Trust Distribution: Mesa Royalty Trust announced a distribution of $0.005730260 per unit for March 2026, payable on April 30, 2026, demonstrating the trust's stable income-generating capability.
- ReposiTrak Dividend: ReposiTrak declared a quarterly dividend of $0.02, totaling $0.08 annually, expected to be paid on May 15, 2026, reflecting the company's ongoing profitability and commitment to shareholders.
See More
SL Green Realty Successfully Refinances $2 Billion Credit Facility
- Cost Reduction: SL Green Realty successfully refinanced $2 billion of its credit facility, reducing borrowing costs by 25 basis points to 125 basis points over SOFR, significantly alleviating financial burdens and enhancing future financing flexibility.
- Facility Extension: The maturity date of the credit facility has been extended to June 2031, including as-of-right extension options, providing the company with a longer funding horizon that supports its long-term strategic objectives.
- Loan Structure Adjustment: The existing $1.05 billion term loan has been bifurcated into a new $750 million term loan, with borrowing costs also reduced by 25 basis points to 145 basis points over SOFR, optimizing the company's capital structure and improving financial stability.
- Market Confidence: The CFO of SL Green noted that the strength of the Midtown Manhattan office leasing market and the quality of their asset portfolio continue to attract support from high-quality financial institutions, indicating strong market confidence and recognition of the company's growth potential.
See More
SL Green Realty Completes $1.65B Refinancing of One Madison Avenue
- Financing Completion: SL Green Realty announced the completion of a $1.65 billion refinancing for One Madison Avenue, securing a five-year fixed-rate loan at 5.81%, which is 181 basis points above the U.S. Treasury index, demonstrating the company's financing capability in the current market environment.
- Transaction Background: This refinancing replaces a $1.25 billion construction loan with a balance of $1.171 billion, expected to close in Q1 2026, indicating the company's strategic intent in asset management and financial structure optimization.
- Key Participants: The transaction was executed as a single-asset, single-borrower CMBS deal, led by Wells Fargo, with participation from Goldman Sachs, J.P. Morgan, Bank of America, Deutsche Bank, and Crédit Agricole, reflecting market confidence in SL Green.
- Market Reaction: Despite the successful financing, SL Green's shares fell by 2.17%, indicating market concerns regarding the company's future performance and potential dividend cuts, which may affect investor confidence and stock price performance.
See More
SL Green Realty Corp Anticipates New Financing to Finalize in Q1 2026, Substituting $1.25 Billion Facility
- New Financing Announcement: Green Realty Corp is expected to close a new financing deal in the first quarter of 2026.
- Significant Investment: The financing will replace a facility valued at $1.25 billion.
See More
SL Green Realty Corp Secures Five-Year Financing at 5.81% Interest Rate
- Financing Overview: S.L.G.R.E.E.N Realty Corp has announced a five-year financing plan.
- Interest Rate Details: The financing is priced at an interest rate of 5.81%.
See More
SL Green Secures $1.65 Billion Refinancing for One Madison Avenue
- Financing Announcement: SL Green has secured financing for the One Madison Avenue project.
- Total Amount: The financing amounts to $1.65 billion.
See More
Ennis Declares Quarterly Cash Dividend
- Dividend Declaration: Ennis's Board of Directors has declared a cash dividend of $0.25 per share, payable on May 4, 2026, which aims to reward shareholders and enhance investor confidence.
- Record Date for Shareholders: The record date for this dividend is April 13, 2026, ensuring that shareholders holding stock before this date will receive the dividend, thereby stabilizing the shareholder base.
- Mesa Royalty Trust Distribution: Mesa Royalty Trust announced a distribution of $0.005730260 per unit for March 2026, payable on April 30, 2026, demonstrating the trust's stable income-generating capability.
- ReposiTrak Dividend: ReposiTrak declared a quarterly dividend of $0.02, totaling $0.08 annually, expected to be paid on May 15, 2026, reflecting the company's ongoing profitability and commitment to shareholders.
See More
SL Green Realty Successfully Refinances $2 Billion Credit Facility
- Cost Reduction: SL Green Realty successfully refinanced $2 billion of its credit facility, reducing borrowing costs by 25 basis points to 125 basis points over SOFR, significantly alleviating financial burdens and enhancing future financing flexibility.
- Facility Extension: The maturity date of the credit facility has been extended to June 2031, including as-of-right extension options, providing the company with a longer funding horizon that supports its long-term strategic objectives.
- Loan Structure Adjustment: The existing $1.05 billion term loan has been bifurcated into a new $750 million term loan, with borrowing costs also reduced by 25 basis points to 145 basis points over SOFR, optimizing the company's capital structure and improving financial stability.
- Market Confidence: The CFO of SL Green noted that the strength of the Midtown Manhattan office leasing market and the quality of their asset portfolio continue to attract support from high-quality financial institutions, indicating strong market confidence and recognition of the company's growth potential.
See More
