# SL Green Secures $2B Refinancing for 245 Park Avenue Property

- URL: https://stocks.freetheai.org/news/sl-green-secures-2b-refinancing-for-245-park-avenue-property-c9b9ea
- Published: 2026-10-19T12:25:33Z
- Category: company_news; sentiment: bullish; impact: medium
- Symbols: [NYSE:SLG](https://stocks.freetheai.org/symbols/NYSE-SLG)
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SL Green Realty Corp. (NYSE:SLG) has finalized a $2.0 billion refinancing for its 245 Park Avenue office building in New York. The new five-year, fixed-rate debt carries a spread of 147 basis points over the U.S. Treasury index. This transaction replaces $1.768 billion of existing mortgage and mezzanine loans on the property.

The refinancing boosts the real estate investment trust's liquidity while extending its overall debt maturities. Chief Investment Officer Harrison Sitomer stated that the deal puts the company's $7.0 billion financing plan for 2026 near completion. The 245 Park Avenue building is currently 100% leased at significantly higher rental rates than under prior ownership following a repositioning strategy.

Investors should monitor the ongoing redevelopment of 245 Park Avenue, which SL Green is undertaking alongside architecture firm Kohn Pedersen Fox and a partner. Construction and upgrades are scheduled for completion in the first quarter of 2027.

## Key points

- SL Green Realty secured a $2.0 billion five-year fixed-rate loan for 245 Park Avenue.
- The financing carries an interest rate spread of 147 basis points above the U.S. Treasury index.
- The new debt replaces $1.768 billion in prior mortgage and mezzanine financing.
- The 100% leased building is undergoing redevelopment with completion scheduled for Q1 2027.

## Questions and answers

### How much refinancing did SL Green secure for 245 Park Avenue?

SL Green Realty secured $2.0 billion in five-year, fixed-rate financing for 245 Park Avenue, priced at 147 basis points over the U.S. Treasury index.

### What was the previous debt on 245 Park Avenue?

The new $2.0 billion refinancing replaces $1.768 billion of previous mortgage and mezzanine debt on the property.

### When will the redevelopment of 245 Park Avenue be completed?

The redevelopment project at 245 Park Avenue, executed with partner firms including Kohn Pedersen Fox, is expected to finish in the first quarter of 2027.