ZACKSยท2025-09-23 15:01Core Insights - SL Green (SLG) and its joint venture partner have acquired $219.5 million in debt claims on properties at 1552 and 1560 Broadway for $63 million, including $26.4 million in accrued and unpaid interest [1][8] - The acquisition resets the basis for the joint venture under favorable terms, and a long-term ground lease has been finalized for 1560 Broadway, extending through 2074 [2][8] - 1552 Broadway is currently leased to a retailer on an interim basis while a long-term credit tenant is sought [2][8] Company Positioning - The addition of these assets enhances SLG's high-quality portfolio, positioning the company for growth amid solid demand for premier office spaces [4] - SLG has signed Manhattan office leases totaling 1.3 million square feet since the beginning of the year, indicating a healthy leasing activity [5] - The company is well-positioned to boost top-line growth and navigate challenging environments due to an encouraging office leasing pipeline [5] Market Performance - SLG shares have increased by 9.4% over the past month, contrasting with a 1% decline in the broader industry [5] - Analysts have revised the Zacks Consensus Estimate for SLG's 2025 funds from operations per share upward by 10.1% to $6.21 over the past two months, reflecting bullish sentiment [6]