sl green realty corp (SLG) Key Developments
SL Green Realty Corp. Signs TD Bank as Anchor Office and Retail Tenant at One Vanderbilt
Nov 17 14
SL Green Realty Corp. announced that TD Bank has signed a long-term lease to become the office and retail anchor tenant at One Vanderbilt, SL Green's proposed tower adjacent to Grand Central Terminal in the heart of New York's Midtown commercial district. TD Bank will occupy approximately 200,000 square feet of space in One Vanderbilt, including a retail store on the northeast corner of 42(nd) Street and Madison Avenue, demonstrating TD Bank's commitment to East Midtown. SL Green will deliver TD Bank its space in One Vanderbilt in 2020. One Vanderbilt will feature 1.6 million square feet of open and efficient LEED-certified Class A office space on the entire block of Vanderbilt Avenue between East 42(nd) and East 43(rd) Street. As part of the development, SL Green will deliver a $210 million package of public transit infrastructure improvements which will create critically-needed transit connections to Metro-North and 4/5/6/7 and S trains, as well as future East Side Access LIRR lines.
SL Green Realty Corp., SL Green Operating Partnership, L.P. and Reckson Operating Partnership, L.P. Enter into Certain Amended and Restated Credit Agreement
Nov 12 14
On November 10, 2014, SL Green Realty Corp., SL Green Operating Partnership, L.P. and Reckson Operating Partnership, L.P. entered into an agreement with The Bank of New York Mellon as the Increasing Lender and Wells Fargo Bank, National Association as the Administrative Agent. The Agreement supplements the existing credit facility to borrow from the Increasing Lender an additional term loan in the principal amount of $50 million. The credit facility, as supplemented by the Agreement, includes an $833 million term loan facility and a $1.2 billion revolving credit facility. The Additional Term Loan was borrowed on November 10, 2014.
SL Green Realty Corp. Announces Acquisition of 102 Greene St, Further Expanding Soho Presence
Nov 4 14
SL Green Realty Corp. announced that is has acquired the retail property located at 102 Greene Street for $32.25 million. The transaction marks the continued growth of the company's prime retail property portfolio, which already includes several other assets in Manhattan's popular SoHo retail district. The 9,200-square-foot asset currently features the Galeria Melissa footwear store, and also includes two residential units and 5,500 square feet of development rights. The building is located on what is becoming one of the top luxury boutique blocks of SoHo between Prince Street and Spring Street, across the street from Tiffany and Co. and surrounded by such tenants as Ralph Lauren, Apple, Etro, Fendi, Dior, Chloe, and Louis Vuitton.
SL Green Realty Corp. Names Matthew Diliberto as Chief Financial Officer, Effective January 1, 2015
Oct 31 14
SL Green Realty Corp. announced that Matthew J. DiLiberto has been named the company's Chief Financial Officer, effective January 1, 2015, when the employment agreement of the current CFO, James Mead, expires. Mr. Mead will be leaving to pursue other professional interests. Mr. DiLiberto has been with SL Green since 2004. Prior to this promotion, he has been the company's Chief Accounting Officer and Treasurer. He previously held positions at Vornado Realty Trust and at Coopers and Lybrand, LLP, the predecessor to PricewaterhouseCoopers, LLP.
SL Green Realty Corp. to Acquire 319,000 Square Feet of Vacant Commercial Condominium Units in a Midtown Manhattan
Oct 24 14
SL Green Realty Corp. on Oct. 22, 2014 provided an update on its recent transactional activity with its third-quarter 2014 guidance. The company agreed to acquire 319,000 square feet of vacant commercial condominium units in a Midtown Manhattan, N.Y., office property at 55 W. 46th St. for $275.0 million. As part of the agreement, the company bought the vacant second floor, comprising 28,000 square feet, for an additional $20.0 million. The company will also acquire a retail store on 46th Street and the building's parking garage and fitness center. This transaction is expected to be completed before the end of 2014, subject to the satisfaction of customary closing conditions. The company also invested $50.0 million in the construction of a large residential-rental project at 605 W. 42nd St. in Manhattan. The investment consists of mezzanine loan interests and a fixed-price option for the company to acquire up to a 20% equity stake in the property upon completion of the project. The project will consist of a 1.16 million-square-foot tower that will feature 1,174 rental-apartment units.