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FOR IMMEDIATE RELEASE
Chief Financial Officer
SL GREEN REALTY CORP. REPORTS
FOURTH QUARTER AND FULL YEAR 2010 FFO OF $0.97 AND $5.00 PER SHARE
BEFORE TRANSACTION COSTS AND EPS OF $0.09 AND
$3.45 PER SHARE
COMMENCED OVER 1 MILLION SQUARE FEET OF LEASES IN THE QUARTER
CLOSED OVER $400 MILLION IN STRATEGIC INVESTMENTS IN
NEW YORK CITY
· Fourth quarter FFO of $0.97 per diluted share before transaction related costs, an 11.5 percent increase as compared with $0.87 per diluted share for the fourth quarter of 2009. Full year FFO of $5.00 per diluted share before transaction related costs, a 12.9 percent increased as compared to $4.43 per diluted share for the full year of 2009.
· Fourth quarter net income attributable to common stockholders of $0.09 per diluted share as compared with a net loss of $0.07 per diluted share in the fourth quarter of 2009. Full year net income attributable to common stockholders of $3.45 per diluted share as compared with $0.54 per diluted share in 2009.
· Combined same-store GAAP NOI increased to $167.9 million, a 2.0 percent increase as compared with $164.7 million in the fourth quarter of 2009.
· Commenced 63 Manhattan leases totaling 801,610 square feet and 31 Suburban leases totaling 333,413 square feet.
· Year-end occupancy increased to 94.6 percent in Manhattan stabilized properties from 94.4 percent in the prior quarter.
· Acquired investments from Gramercy Capital Corp. (NYSE: GKK), or Gramercy, comprised of the remaining 45 percent joint venture interests in the leased fee at 885 Third Avenue and 2 Herald Square and the entire leased fee interest in 292 Madison Avenue for an aggregate investment of $349.7 million, including the assumption of $265.6 million of mortgage debt.
The following information was filed by Sl Green Realty Corp (SLG) on Tuesday, January 25, 2011 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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