Summary

SL Green is actively executing on a multifaceted 2026 capital markets strategy that includes $2.5 billion of targeted asset dispositions and a comprehensive $7.0 billion refinancing plan. The company's high-level focus remains on strengthening the balance sheet, actively de-leveraging, and shifting its portfolio concentration toward premium Class A+ assets. Liquidity raised from asset sales is being strategically earmarked for accretive reinvestment, discounted debt extinguishments, and ongoing share repurchases. Operationally, these capital moves support a broader goal to drive same-store leased occupancy to roughly 95% by the end of 2026.

The company also continues to digest the aftereffects of major historical transactions designed to manage portfolio leverage and de-risk operations through joint ventures. Most notably, this includes the mid-2023 sale of a 49.9% joint venture stake in 245 Park Avenue to Mori Trust at a $2.0 billion gross asset valuation, which equated to $1,122 per square foot and an approximate 4.0% cap rate. Additionally, the company previously syndicated its equity in the $2.3 billion One Madison Avenue development project, bringing in global joint venture partners and selling down its position to retain a 25.5% stake.