Exhibit 99.1

 

CONTACT

James Mead

Chief Financial Officer

-and-

Heidi Gillette

Investor Relations

(212) 594-2700

 

SL GREEN REALTY CORP. REPORTS

FOURTH QUARTER AND FULL YEAR 2013 FFO OF $1.42 AND $5.21 PER SHARE BEFORE TRANSACTION COSTS; AND EPS OF $0.39 AND $1.10 PER SHARE

 

Financial and Operating Highlights

 

·                  Fourth quarter FFO of $1.42 per share before transaction related costs of $0.04 per share compares with prior year FFO of $1.16 per share before transaction related costs of $0.02 per share.  Full year FFO of $5.21 per share before transaction related costs of $0.05 per share compares with prior year FFO of $5.35 per share before transaction related costs of $0.07 per share.  The prior year results reflect additional income of $67.9 million, or $0.73 per share, relating to profit from the recapitalization of 717 Fifth Avenue.

 

·                  Fourth quarter net income attributable to common stockholders of $0.39 per share compares with prior year net income of $0.22 per share.  Full year net income attributable to common stockholders of $1.10 per share compares with prior year net income of $1.74 per share.

 

·                  Combined same-store cash NOI increased 3.1 percent and 3.0 percent for the fourth quarter and full year, respectively, compared to the prior year.

 

·                  Increased the Company’s quarterly dividend by 52 percent to a new annual rate of $2.00 per share beginning with the fourth quarter dividend, which was paid in January 2014.

 

·                  Signed a total of 57 Manhattan office leases covering 3,391,447 square feet during the fourth quarter, inclusive of the 2,634,670 square foot extension with an affiliate of Citigroup, Inc.  The mark-to-market on the Citi extension was 12.8 percent and the mark-to-market on the remaining 756,777 square feet was 4.9 percent higher than the previously fully escalated rents on the same spaces.

 

·                  Manhattan same-store occupancy, before reclassifying 317 Madison Avenue, 331 Madison Avenue and 51 East 42nd Street to development, increased to 96.1 percent as of December 31, 2013, inclusive of leases signed but not yet commenced, as compared to 95.8 percent at September 30, 2013.

 

·                  Signed a total of 35 Suburban office leases covering 183,896 square feet during the fourth quarter. The mark-to-market on signed Suburban office leases was 1.3 percent higher in the fourth quarter as compared to the previously fully escalated rents on the same spaces.  Same-store occupancy

 


The following information was filed by Sl Green Realty Corp (SLG) on Thursday, January 30, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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