Business Context and Reporting Period
Company: SL Green Realty Corp. and SL Green Operating Partnership, L.P.
Filing Type: Form 8-K (Current Report)
Date of Report: March 4, 2026
Principal Office: One Vanderbilt Avenue, New York, NY 10017
This filing reports the entry into a material definitive agreement and the unregistered sale of equity securities related to a commercial real estate acquisition.
Key Financial Metrics and Transaction Details
The filing details a specific capital transaction rather than periodic financial performance metrics (revenue, profit, cash flow).
- Security Issued: 252,000 Series Y Preferred Units of the Operating Partnership.
- Liquidation Preference: $25.00 per unit.
- Total Liquidation Preference Value: $6,300,000 (252,000 units x $25.00).
- Annual Distribution Rate: Fixed 5.00% of the liquidation preference per annum.
- Consideration Purpose: Issued as partial consideration for the acquisition of ownership interests in certain commercial real estate properties.
- Convertibility: The Series Y Preferred Units are not convertible into or exchangeable for other securities.
Material Changes Versus Prior Period
This filing does not provide comparative financial data or material changes to operating results versus a prior period. The material change reported is the amendment to the Partnership Agreement to authorize the issuance of the Series Y Preferred Units.
Guidance, Outlook, and Risks
Management Commentary: The filing states the issuance was made in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933.
Risks and Contingencies: The filing does not explicitly list new risks or contingencies beyond the standard incorporation by reference of the Thirty-Second Amendment to the Partnership Agreement.
Investor Verification Checklist
- Verify the specific commercial real estate properties acquired in exchange for the Series Y Preferred Units.
- Review the full text of the Thirty-Second Amendment (Exhibit 10.1) for additional covenants or restrictions on the Series Y Preferred Units.
- Confirm the impact of the 5.00% fixed distribution obligation on the Operating Partnership's future cash flow requirements.
- Check subsequent filings for the closing details of the underlying property acquisition.