245 Park Avenue

SL Green Realty Corp. Reports Fourth Quarter 2023 EPS of ($2.45) per Share; and FFO of $0.72 per Share After Non-Recurring Charges

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星期三, 一月 24, 2024

NEW YORK, Jan. 24, 2024 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (the "Company") (NYSE: SLG) today reported a net loss attributable to common stockholders for the quarter ended December 31, 2023 of $155.6 million, or $2.45 per share, as compared to a net loss of $64.3 million, or $1.01 per share, for the same quarter in 2022. Net loss for the fourth quarter of 2023 included $105.8 million, or $1.53 per share, of non-recurring charges comprised of depreciable real estate reserves, non-cash fair value adjustments on mark-to-market derivatives and general and administrative charges and was net of $49.1 million, or $0.71 per share, of depreciation and amortization.

Key Points:

Net loss for the fourth quarter of 2023 included $1.53 per share of non-recurring charges and $0.71 per share of depreciation and amortization.
As of December 31, 2023, the value of the Company's derivatives, at share, net of the mark-to-market derivatives that negatively impacted FFO, was $32.9 million.
Manhattan same-store office occupancy increased to 90.0% as of December 31, 2023 inclusive of leases signed but not yet commenced.
As of December 31, 2023, SL Green held interests in 58 buildings totaling 32.5 million square feet.

Greenberg Traurig Wins 2023 Law360 Real Estate Practice Group of the Year Award

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星期四, 一月 25, 2024

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NEW YORK, Jan. 25, 2024 /PRNewswire-PRWeb/ -- Global law firm Greenberg Traurig, LLP was recognized with a 2023 Law360 Practice Group of the Year award for its Global Real Estate Practice.

Key Points:

Global law firm Greenberg Traurig, LLP was recognized with a 2023 Law360 Practice Group of the Year award for its Global Real Estate Practice.
NEW YORK, Jan. 25, 2024 /PRNewswire-PRWeb/ -- Global law firm Greenberg Traurig, LLP was recognized with a 2023 Law360 Practice Group of the Year award for its Global Real Estate Practice .
Greenberg Traurig's Global Real Estate Practice has earned the recognition for two consecutive years and seven times overall.
"We are grateful that our team's hard work and dedication to excellence in client service continue to be recognized by Law360 with this award," Real Estate Practice Co-Chairs Michael J. Baum , Richard J. Giusto , and Stephen L. Rabinowitz said.

Greenberg Traurig's Global Real Estate Practice Pivots to Help Clients Grow Amid Economic Headwinds in 2023

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星期三, 一月 10, 2024

NEW YORK, Jan. 10, 2024 /PRNewswire-PRWeb/ -- Despite high interest rates and other headwinds that put pressure on asset valuations and deal flow, Greenberg Traurig's Global Real Estate Practice had a strong year in 2023, finding new ways to serve clients and help them grow amid the uncertainty.

Key Points:

Despite high interest rates and other headwinds that put pressure on asset valuations and deal flow, Greenberg Traurig's Global Real Estate Practice had a strong year in 2023, finding new ways to serve clients and help them grow amid the uncertainty.
NEW YORK, Jan. 10, 2024 /PRNewswire-PRWeb/ -- Despite high interest rates and other headwinds that put pressure on asset valuations and deal flow, Greenberg Traurig 's Global Real Estate Practice had a strong year in 2023, finding new ways to serve clients and help them grow amid the uncertainty.
"Greenberg Traurig lawyers proved resilient and creative in 2023 as clients continually turned to us to help anticipate change, reduce risk, and adapt to new market conditions worldwide," said Michael J. Baum , co-chair of the Global Real Estate Practice and senior vice president of the firm.
The team saw significant client demand across a broad range of real estate transactions and matters, including asset management, fund formations, joint ventures, litigation, property development, infrastructure, and restructurings.

SL Green Signs 77,000 Square Foot Lease with Stonepeak Partners at 245 Park Avenue

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星期一, 十二月 4, 2023

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NEW YORK, Dec. 04, 2023 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced that Stonepeak Partners, L.P., a leading international alternative investment firm, has signed a new 76,716 square foot, 15-year lease covering the entire 31st and 32nd floors at 245 Park Avenue.

Key Points:

NEW YORK, Dec. 04, 2023 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced that Stonepeak Partners, L.P., a leading international alternative investment firm, has signed a new 76,716 square foot, 15-year lease covering the entire 31st and 32nd floors at 245 Park Avenue.
To date in 2023, SL Green has signed leases totaling 199,872 square feet in the building.
“We’re delighted to welcome Stonepeak Partners to 245 Park Avenue as we commence a transformative redevelopment of the building,” said Steven Durels, SL Green’s Executive Vice President, Director of Leasing and Real Property.
“Park Avenue continues to be the premier Manhattan submarket as world class companies increasingly focus on midtown as their preferred office location.”
245 Park Avenue is a 1.8 million-square-foot, Class A office building located directly across from JP Morgan Chase’s new world headquarters.

SL Green Realty Corp. Reports Third Quarter 2023 EPS of ($0.38) Per Share; and FFO of $1.27 Per Share

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星期三, 十月 18, 2023

NEW YORK, Oct. 18, 2023 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (the "Company") (NYSE: SLG) today reported net loss attributable to common stockholders for the quarter ended September 30, 2023 of $24.0 million, or $0.38 per share, as compared to net income of $7.4 million, or $0.11 per share, for the same quarter in 2022.

Key Points:

Reported funds from operations, or FFO, of $1.27 per share for the third quarter of 2023 as compared to $1.66 per share for the same period in 2022.
Manhattan same-store office occupancy increased to 89.9% as of September 30, 2023 inclusive of leases signed but not yet commenced.
The sale is anticipated to close in the fourth quarter of 2023, subject to customary closing conditions.
As of September 30, 2023, SL Green held interests in 59 buildings totaling 32.5 million square feet.

SL Green Realty Corp. Reports Second Quarter 2023 EPS of ($5.63) per Share; and FFO of $1.43 per Share

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星期三, 七月 19, 2023

NEW YORK, July 19, 2023 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (the "Company") (NYSE: SLG) today reported net loss attributable to common stockholders for the quarter ended June 30, 2023 of $360.2 million, or $5.63 per share, as compared to net loss of $43.9 million, or $0.70 per share, for the same quarter in 2022. Net loss attributable to common stockholders for the second quarter of 2023 included $350.0 million, or $5.08 per share, of net losses from the sale of real estate interests and non-cash fair value adjustments, as compared to $70.7 million, or $1.02 per share, of net losses from the sale of real estate interests and non-cash fair value adjustments for the same period in 2022.

Key Points:

Reported funds from operations, or FFO, of $1.43 per share for the second quarter of 2023 as compared to $1.87 per share for the same period in 2022.
Signed 43 Manhattan office leases covering 410,749 square feet in the second quarter of 2023 and 84 Manhattan office leases covering 915,431 square feet for the first six months of 2023.
During the second quarter of 2023, the Company signed 43 office leases in its Manhattan office portfolio totaling 410,749 square feet.
As of June 30, 2023, SL Green held interests in 60 buildings totaling 33.1 million square feet.

SL Green Announces Sale of 49.9% Interest in 245 Park Avenue

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星期一, 六月 26, 2023

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NEW YORK, June 26, 2023 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:SLG), New York City’s largest office landlord, today announced that it has sold a 49.9% interest in 245 Park Avenue to a U.S. affiliate of Mori Trust Co., Ltd. at a gross asset valuation of $2.0 billion.

Key Points:

NEW YORK, June 26, 2023 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:SLG), New York City’s largest office landlord, today announced that it has sold a 49.9% interest in 245 Park Avenue to a U.S. affiliate of Mori Trust Co., Ltd. at a gross asset valuation of $2.0 billion.
It is also an affirmation of the institutional capital markets’ recognition of the enormous potential for 245 Park to benefit from strategic investments and thoughtful stewardship,” said Harrison Sitomer, Chief Investment Officer of SL Green.
The company has retained Kohn Pedersen Fox Associates to assist in a redesign of the building that is focused on a new Park Avenue podium façade, new windows, improvements to both the Park Avenue and Lexington Avenue lobbies, the Park Avenue plaza, retail storefronts, numerous infrastructure upgrades, and an expansion of SL Green’s premier amenity program.
The sale of a joint venture interest in 245 Park Avenue is the largest component of the company’s financial plan for 2023, following the successful $500 million refinancing of 919 Third Avenue in April.

OneMain Holdings, Inc. Announces Pricing of $500 Million Aggregate Principal Amount of Senior Notes Due 2029

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星期二, 六月 20, 2023

OneMain Holdings, Inc. (NYSE: OMF) (“OMH”) announced today that its direct, wholly-owned subsidiary OneMain Finance Corporation (“OMFC”) priced $500 million aggregate principal amount of its 9.00% senior notes due 2029 (the “2029 notes”) in connection with its previously announced registered 2029 notes offering.

Key Points:

OneMain Holdings, Inc. (NYSE: OMF) (“OMH”) announced today that its direct, wholly-owned subsidiary OneMain Finance Corporation (“OMFC”) priced $500 million aggregate principal amount of its 9.00% senior notes due 2029 (the “2029 notes”) in connection with its previously announced registered 2029 notes offering.
The 2029 notes will be guaranteed on an unsecured basis by OMH (the “guarantee”).
The closing of the offering is expected to occur on June 22, 2023, subject to satisfaction of customary closing conditions.
The 2029 notes offering is being made only by means of a prospectus supplement and accompanying base prospectus.

OneMain Holdings, Inc. Announces Proposed Offering of Senior Notes due 2029

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星期二, 六月 20, 2023

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OneMain Holdings, Inc. (NYSE: OMF) (“OMH”) announced today that its direct, wholly-owned subsidiary OneMain Finance Corporation (“OMFC”) is proposing to offer $500 million aggregate principal amount of its senior notes due 2029 (the “2029 notes”), subject to market and other conditions.

Key Points:

OneMain Holdings, Inc. (NYSE: OMF) (“OMH”) announced today that its direct, wholly-owned subsidiary OneMain Finance Corporation (“OMFC”) is proposing to offer $500 million aggregate principal amount of its senior notes due 2029 (the “2029 notes”), subject to market and other conditions.
The 2029 notes will be guaranteed on an unsecured basis by OMH (the “guarantee”).
There can be no assurance that the offering of the 2029 notes will be consummated.
The 2029 notes offering is being made only by means of a prospectus supplement and accompanying base prospectus.

SL Green Signs 31 Office Leases Totaling 300,000 Square Feet in Last 60 Days

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星期一, 六月 5, 2023

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NEW YORK, June 05, 2023 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), New York City’s largest office landlord, today announced that it has signed 31 office leases covering 299,137 square feet to date in the second quarter, increasing 2023 office leasing volume to 803,819 square feet, while maintaining an office leasing pipeline in excess of 1.0 million square feet.

Key Points:

NEW YORK, June 05, 2023 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), New York City’s largest office landlord, today announced that it has signed 31 office leases covering 299,137 square feet to date in the second quarter, increasing 2023 office leasing volume to 803,819 square feet, while maintaining an office leasing pipeline in excess of 1.0 million square feet.
The tenant renewed 49,851 square feet on the entire 9th floor and expanded into 49,717 square feet on the entire 10th floor.
Two leases were signed at 245 Park Avenue totaling 86,840 square feet.
EQT Partners, a leading Swedish private equity firm, signed a new 15-year lease covering 76,204 square feet on the entire 33rd and 34th floors.