alanine remonstrant: SL Green Renews 372520-Sq-Ft Lease with the City of New York at ...

NEW YORK, Jun 19, 2012 (BUSINESS WIRE) ?
SL Green Realty Corp.

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+1.27%

announced today that the City of New
York has renewed its lease covering 372,520 square feet for offices of
the law division at 100 Church Street, the 21-story, 1.05 million square
foot building located in downtown Manhattan. The 20-year lease renewal
commences November, 2013 covering floors 2-6, 20 and a portion of the
building?s concourse level. The City?s lease at 100 Church Street was
scheduled to expire in October, 2013.

The Company also announced that is has refinanced the property with a
new $230 million, 10-year loan bearing interest at a rate of 4.675%.
Proceeds from the financing, which was provided by Wells Fargo Bank,
will be used for general corporate purposes.

?We are delighted to have the City of New York as our anchor tenant. The
City?s decision to extend its commitment is testament to the quality of
our recently completed redevelopment of 100 Church Street,? said Steven
Durels, Executive Vice President and Director of Leasing and Real
Property for SL Green. Mr. Durels continued, ?This early renewal is
consistent with our firm?s proactive management of future lease
expirations which has led to consistently high portfolio occupancy.?

SL Green acquired the building in 2010 after it had been 56% vacant for
over 5 years. A comprehensive redevelopment of the property, which was
completed in 2011, included a new lobby, windows, infrastructure
upgrades, new roofs and retail repositioning. Building occupancy is now
82% and major tenants, in addition to the City of New York, include
HealthFirst, Niche Media, Interactive Data Corp, Centerline Capital
Group and the State of New York.

CBRE?s Michael Geoghegan and John Morrill represented the City of New
York in the transaction.

Caroline Silk, Esq. represented the City of New York in-house, while
Peter Strauss, Esq. and Christopher Smith, Esq. of Shearman Sterling
acted on behalf of SL Green.

About SL Green:

SL Green Realty Corp., New York City?s largest office landlord, is
the only fully integrated real estate investment trust, or REIT, that is
focused primarily on acquiring, managing and maximizing value of
Manhattan commercial properties. As of March 31, 2012, SL Green owned
interests in 70 Manhattan properties totaling more than 39.0 million
square feet. This included ownership interests in 27.3 million square
feet of commercial properties and debt and preferred equity investments
secured by 11.7 million square feet of properties. In addition to its
Manhattan investments, SL Green holds ownership interests in 32 suburban
assets totaling 6.9 million square feet in Brooklyn, Queens, Long
Island, Westchester County, Connecticut and New Jersey, along with four
development properties in the suburbs encompassing approximately 0.5
million square feet.

Forward Looking Statements

This press release includes certain statements that may be deemed to
be ?forward-looking statements? within the meaning of the Private
Securities Litigation Reform Act of 1995 and are intended to be covered
by the safe harbor provisions thereof. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that we expect, believe or
anticipate will or may occur in the future, including such matters as
future capital expenditures, dividends and acquisitions (including the
amount and nature thereof), development trends of the real estate
industry and the Manhattan, Brooklyn, Queens, Westchester County,
Connecticut, Long Island and New Jersey office markets, business
strategies, expansion and growth of our operations and other similar
matters, are forward-looking statements. These forward-looking
statements are based on certain assumptions and analyses made by us in
light of our experience and our perception of historical trends, current
conditions, expected future developments and other factors we believe
are appropriate.

Forward-looking statements are not guarantees of future performance
and actual results or developments may differ materially, and we caution
you not to place undue reliance on such statements. Forward-looking
statements are generally identifiable by the use of the words ?may,?
?will,? ?should,? ?expect,? ?anticipate,? ?estimate,? ?believe,?
?intend,? ?project,? ?continue,? or the negative of these words, or
other similar words or terms.

Forward-looking statements contained in this press release are
subject to a number of risks and uncertainties that may cause our actual
results, performance or achievements to be materially different from
future results, performance or achievements expressed or implied by
forward-looking statements made by us. These risks and uncertainties
include the effect of the credit crisis on general economic, business
and financial conditions, and on the New York metropolitan real estate
market in particular; dependence upon certain geographic markets; risks
of real estate acquisitions, dispositions and developments, including
the cost of construction delays and cost overruns; risks relating to
structured finance investments; availability and creditworthiness of
prospective tenants and borrowers; bankruptcy or insolvency of a major
tenant or a significant number of smaller tenants; adverse changes in
the real estate markets, including reduced demand for office space,
increasing vacancy, and increasing availability of sublease space;
availability of capital (debt and equity); unanticipated increases in
financing and other costs, including a rise in interest rates; our
ability to comply with financial covenants in our debt instruments; our
ability to maintain our status as a REIT; risks of investing through
joint venture structures, including the fulfillment by our partners of
their financial obligations; the continuing threat of terrorist attacks,
in particular in the New York metropolitan area and on our tenants; our
ability to obtain adequate insurance coverage at a reasonable cost and
the potential for losses in excess of our insurance coverage, including
as a result of environmental contamination; and legislative, regulatory
and/or safety requirements adversely affecting REITs and the real estate
business, including costs of compliance with the Americans with
Disabilities Act, the Fair Housing Act and other similar laws and
regulations.

Other factors and risks to our business, many of which are beyond our
control, are described in our filings with the Securities and Exchange
Commission. We undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of future events, new
information or otherwise.

SOURCE: SL Green Realty Corp.

          SL Green Realty Corp.         Steven Durels         Exec VP, Director of Leasing and Real Property         or         Heidi Gillette, 212-594-2700         Director, Investor Relations

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