NEW YORK--(BUSINESS WIRE)--
SL Green Realty Corp. (NYSE:SLG), an S&P 500 company and New York City's
largest commercial property owner, today announced that Belmont
Insurance Company ("Belmont"), a New York licensed captive insurance
company, its wholly-owned subsidiary, became a member of the Federal
Home Loan Bank of New York ("FHLBNY"). Belmont is the first captive
insurance company to gain membership in the FHLBNY cooperative.
Members have access to a wide variety of flexible, low-cost funding
through FHLBNY's credit products, enabling members to customize
advances, interest rates and match asset and liability terms. Eligible
collateral to pledge to FHLBNY includes residential, multi-family and
commercial mortgage loans, mortgage backed securities, and US Treasury
and Agency securities.
"We are delighted to become a member of the Federal Home Loan Bank of
New York and appreciate the bank's commitment on this ground breaking
step in accepting its first captive member," said Matt DiLiberto, Chief
Financial Officer of SL Green. Mr. DiLiberto continued, "Access to the
diverse array of credit products that the FHLBNY provides further
expands our already robust access to liquidity and provides an
alternative means to efficiently finance the debt and preferred equity
platform, as necessary, on flexible terms at an attractive cost of
capital."
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and New York City's largest
office landlord, is a fully integrated real estate investment trust, or
REIT, that is focused primarily on acquiring, managing and maximizing
value of Manhattan commercial properties. As of June 30, 2015, SL Green
held interests in 120 Manhattan buildings totaling 44.1 million square
feet. This included ownership interests in 29.0 million square feet of
commercial buildings and debt and preferred equity investments secured
by 15.1 million square feet of buildings. The company has an ownership
interest in 3,143 residential units in New York City, with several loans
also held on residential/multi-family projects in the debt and preferred
equity platform. In addition to its Manhattan investments, SL Green held
ownership interests in 37 suburban buildings totaling 5.9 million square
feet in Brooklyn, Long Island, Westchester County, Connecticut and New
Jersey. For more information, please visit: http://slgreen.com/
SLG-FIN
View source version on businesswire.com: http://www.businesswire.com/news/home/20150910005907/en/
SL Green Realty Corp.
Matt DiLiberto
Chief Financial Officer
-or-
Andrew
Falk
Senior Vice President
212.594.2700
Source: SL Green Realty Corp.
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