Consolidated Statements of Cash Flows (Partnership) - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2026 |
Sep. 30, 2025 |
| Operating Activities |
|
|
| Net income |
$ 1,382
|
$ 6,799
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
200,659
|
187,874
|
| Amortization of deferred financing costs |
7,438
|
5,153
|
| Equity in net (income) loss from unconsolidated joint ventures |
(20,860)
|
30,892
|
| Distributions of cumulative earnings from unconsolidated joint ventures |
2,417
|
437
|
| Equity in net loss (gain) on sale of interest in unconsolidated joint venture/real estate |
814
|
(84,926)
|
| Purchase price and other fair value adjustments |
(14,106)
|
8,090
|
| Depreciable real estate reserves and impairments |
37,435
|
8,546
|
| (Gain) loss on sale of real estate, net |
(103,902)
|
1,717
|
| Loan loss reserves and other investment reserves, net of recoveries |
0
|
(71,326)
|
| Gain on sale of investments in marketable securities |
0
|
(10,232)
|
| Deferred rents receivable |
(10,738)
|
520
|
| Non-cash lease expense |
17,671
|
15,879
|
| Other non-cash adjustments |
17,417
|
33,126
|
| Changes in operating assets and liabilities: |
|
|
| Tenant and other receivables |
(20,656)
|
(4,551)
|
| Related party receivables |
11,616
|
11,677
|
| Deferred lease costs |
(18,762)
|
(18,649)
|
| Other assets |
(51,329)
|
(27,202)
|
| Accounts payable, accrued expenses, other liabilities and security deposits |
7,837
|
(10,940)
|
| Deferred revenue |
13,769
|
(6,971)
|
| Lease liability - operating leases |
(12,413)
|
(21,493)
|
| Net cash provided by operating activities |
65,689
|
54,420
|
| Investing Activities |
|
|
| Acquisitions of real estate property |
(664,131)
|
(110,380)
|
| Additions to land, buildings and improvements |
(202,041)
|
(182,952)
|
| Acquisition deposits and deferred purchase price |
0
|
(10,050)
|
| Investments in unconsolidated joint ventures |
(118,574)
|
(145,583)
|
| Distributions in excess of cumulative earnings from unconsolidated joint ventures |
218,453
|
93,722
|
| Net proceeds from disposition of real estate/joint venture interest |
640,096
|
212,168
|
| Proceeds from sale or redemption of marketable securities |
4,525
|
60,107
|
| Investments in marketable securities |
0
|
(41,413)
|
| Investments in real estate loans held by consolidated securitization vehicles |
0
|
(49,296)
|
| Repayment of real estate loans held by consolidated securitization vehicles |
0
|
(231,704)
|
| Proceeds from sale or redemption of real estate loans held by consolidated securitization vehicles |
0
|
430,000
|
| Other investments |
(2,423)
|
(36,515)
|
| Origination or purchase of debt fund investments |
(272,540)
|
(49,509)
|
| Repayment or redemption of debt fund investments |
0
|
20,000
|
| Origination of debt and preferred equity investments |
(5,000)
|
(13,073)
|
| Repayments or redemption of debt and preferred equity investments |
38,500
|
9,214
|
| Net cash used in investing activities |
(363,135)
|
(41,101)
|
| Financing Activities |
|
|
| Proceeds from mortgages and other loans payable |
784,258
|
104,403
|
| Repayments of mortgages and other loans payable |
(700,744)
|
(17,046)
|
| Proceeds from revolving credit facility, term loans and unsecured notes |
1,069,710
|
660,000
|
| Repayments of revolving credit facility, term loans and unsecured notes |
(779,710)
|
(590,000)
|
| Proceeds from stock options exercised and DRSPP issuance |
195
|
189
|
| Proceeds from issuance of common stock |
0
|
(871)
|
| Repurchase of common units |
(14,068)
|
0
|
| Redemption of OP units |
(21,118)
|
(21,558)
|
| Distributions to noncontrolling interests in other partnerships |
(8,626)
|
(1,818)
|
| Contributions from noncontrolling interests in other partnerships |
3,156
|
4,635
|
| Contributions from noncontrolling interests to debt fund investments |
204,241
|
85,100
|
| Distributions from debt fund investments |
(10,976)
|
0
|
| Dividends paid on common and preferred stock |
(102,430)
|
(180,982)
|
| Other obligations related to secured borrowing |
39,150
|
0
|
| Repayment of other obligations related to secured borrowing |
(75,294)
|
0
|
| Tax withholdings related to restricted share awards |
(6,283)
|
(13,744)
|
| Deferred loan costs |
(24,867)
|
(4,535)
|
| Net cash provided by financing activities |
346,897
|
12,086
|
| Net increase in cash, cash equivalents, and restricted cash |
49,451
|
25,405
|
| Cash, cash equivalents, and restricted cash at beginning of year |
336,495
|
331,638
|
| Cash, cash equivalents, and restricted cash at end of period |
385,946
|
357,043
|
| Supplemental Disclosure of Non-Cash Investing and Financing Activities: |
|
|
| Issuance of preferred units relating to a real estate acquisition |
5,800
|
0
|
| Assumption of mortgage loans |
12,200
|
0
|
| Measurement adjustment for redeemable noncontrolling interest |
52,555
|
14,815
|
| Conversion of partner loan |
0
|
15,632
|
| Deconsolidation of a subsidiary |
88,891
|
0
|
| Acquisition of subsidiary interest from noncontrolling interest |
0
|
51,654
|
| Transfer of investments to debt fund |
0
|
38,422
|
| Contribution to consolidated joint venture interest |
0
|
51
|
| Removal of fully depreciated commercial real estate properties |
0
|
5,157
|
| Receivable from sale of unconsolidated joint venture assets |
0
|
86,635
|
| Recognition of lease liabilities arising from obtaining right-of-use assets |
0
|
20,169
|
| Consolidation of securitization vehicle assets |
0
|
828,143
|
| Consolidation of securitization vehicle liabilities |
0
|
828,143
|
| Cash and cash equivalents |
186,439
|
187,039
|
| Restricted cash |
199,507
|
170,004
|
| Total cash, cash equivalents, and restricted cash |
385,946
|
357,043
|
| SL Green Operating Partnership |
|
|
| Operating Activities |
|
|
| Net income |
1,382
|
6,799
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
200,659
|
187,874
|
| Amortization of deferred financing costs |
7,438
|
5,153
|
| Equity in net (income) loss from unconsolidated joint ventures |
(20,860)
|
30,892
|
| Distributions of cumulative earnings from unconsolidated joint ventures |
2,417
|
437
|
| Equity in net loss (gain) on sale of interest in unconsolidated joint venture/real estate |
814
|
(84,926)
|
| Purchase price and other fair value adjustments |
(14,106)
|
8,090
|
| Depreciable real estate reserves and impairments |
37,435
|
8,546
|
| (Gain) loss on sale of real estate, net |
(103,902)
|
1,717
|
| Loan loss reserves and other investment reserves, net of recoveries |
0
|
(71,326)
|
| Gain on sale of investments in marketable securities |
0
|
(10,232)
|
| Deferred rents receivable |
(10,738)
|
520
|
| Non-cash lease expense |
17,671
|
15,879
|
| Other non-cash adjustments |
17,417
|
33,126
|
| Changes in operating assets and liabilities: |
|
|
| Tenant and other receivables |
(20,656)
|
(4,551)
|
| Related party receivables |
11,616
|
11,677
|
| Deferred lease costs |
(18,762)
|
(18,649)
|
| Other assets |
(51,329)
|
(27,202)
|
| Accounts payable, accrued expenses, other liabilities and security deposits |
7,837
|
(10,940)
|
| Deferred revenue |
13,769
|
(6,971)
|
| Lease liability - operating leases |
(12,413)
|
(21,493)
|
| Net cash provided by operating activities |
65,689
|
54,420
|
| Investing Activities |
|
|
| Acquisitions of real estate property |
(664,131)
|
(110,380)
|
| Additions to land, buildings and improvements |
(202,041)
|
(182,952)
|
| Acquisition deposits and deferred purchase price |
0
|
(10,050)
|
| Investments in unconsolidated joint ventures |
(118,574)
|
(145,583)
|
| Distributions in excess of cumulative earnings from unconsolidated joint ventures |
218,453
|
93,722
|
| Net proceeds from disposition of real estate/joint venture interest |
640,096
|
212,168
|
| Cash and restricted cash assumed from consolidation of real estate investment |
0
|
4,163
|
| Proceeds from sale or redemption of marketable securities |
4,525
|
60,107
|
| Investments in marketable securities |
0
|
(41,413)
|
| Investments in real estate loans held by consolidated securitization vehicles |
0
|
(49,296)
|
| Repayment of real estate loans held by consolidated securitization vehicles |
0
|
(231,704)
|
| Proceeds from sale or redemption of real estate loans held by consolidated securitization vehicles |
0
|
430,000
|
| Other investments |
(2,423)
|
(36,515)
|
| Origination or purchase of debt fund investments |
(272,540)
|
(49,509)
|
| Repayment or redemption of debt fund investments |
0
|
20,000
|
| Origination of debt and preferred equity investments |
(5,000)
|
(13,073)
|
| Repayments or redemption of debt and preferred equity investments |
38,500
|
9,214
|
| Net cash used in investing activities |
(363,135)
|
(41,101)
|
| Financing Activities |
|
|
| Proceeds from mortgages and other loans payable |
784,258
|
104,403
|
| Repayments of mortgages and other loans payable |
(700,744)
|
(17,046)
|
| Proceeds from revolving credit facility, term loans and unsecured notes |
1,069,710
|
660,000
|
| Repayments of revolving credit facility, term loans and unsecured notes |
(779,710)
|
(590,000)
|
| Proceeds from stock options exercised and DRSPP issuance |
195
|
189
|
| Proceeds from issuance of common stock |
0
|
(871)
|
| Repurchase of common units |
(14,068)
|
0
|
| Redemption of OP units |
(21,118)
|
(21,558)
|
| Distributions to noncontrolling interests in other partnerships |
(8,626)
|
(1,818)
|
| Contributions from noncontrolling interests in other partnerships |
3,156
|
4,635
|
| Contributions from noncontrolling interests to debt fund investments |
204,241
|
85,100
|
| Distributions from debt fund investments |
(10,976)
|
0
|
| Dividends paid on common and preferred stock |
(112,127)
|
(192,669)
|
| Other obligations related to secured borrowing |
39,150
|
0
|
| Repayment of other obligations related to secured borrowing |
(75,294)
|
0
|
| Tax withholdings related to restricted share awards |
(6,283)
|
(13,744)
|
| Deferred loan costs |
(24,867)
|
(4,535)
|
| Net cash provided by financing activities |
346,897
|
12,086
|
| Net increase in cash, cash equivalents, and restricted cash |
49,451
|
25,405
|
| Cash, cash equivalents, and restricted cash at beginning of year |
336,495
|
331,638
|
| Cash, cash equivalents, and restricted cash at end of period |
385,946
|
357,043
|
| Supplemental Disclosure of Non-Cash Investing and Financing Activities: |
|
|
| Issuance of preferred units relating to a real estate acquisition |
5,800
|
0
|
| Exchange of preferred equity investment for real estate |
0
|
138,954
|
| Assumption of mortgage loans |
12,200
|
0
|
| Measurement adjustment for redeemable noncontrolling interest |
52,555
|
14,815
|
| Conversion of partner loan |
0
|
15,632
|
| Deconsolidation of a subsidiary |
88,891
|
0
|
| Acquisition of subsidiary interest from noncontrolling interest |
0
|
51,654
|
| Transfer of investments to debt fund |
0
|
38,422
|
| Contribution to consolidated joint venture interest |
0
|
51
|
| Removal of fully depreciated commercial real estate properties |
0
|
5,157
|
| Receivable from sale of unconsolidated joint venture assets |
0
|
86,635
|
| Recognition of lease liabilities arising from obtaining right-of-use assets |
0
|
20,169
|
| Consolidation of securitization vehicle assets |
0
|
828,143
|
| Consolidation of securitization vehicle liabilities |
0
|
828,143
|
| Cash and cash equivalents |
186,439
|
187,039
|
| Restricted cash |
199,507
|
170,004
|
| Total cash, cash equivalents, and restricted cash |
$ 385,946
|
$ 357,043
|