SL Green Realty, Manhattan’s largest office landlord, announced it had surpassed its $1 billion goal for the SLG Opportunistic Debt Fund. The fund, backed by global institutional investors including pension funds and insurance companies, received over $500 million in new commitments this week, with more expected soon.
Launched in 2024, it aims to capitalize on dislocation between improving leasing fundamentals and debt markets, focusing on high-quality assets in New York City, where financing is constrained.
The fund invests through long-standing relationships and proprietary networks, providing current income and capital appreciation via structured debt, with an emphasis on downside protection. It will originate or buy loans, portfolios, and CMBS securities.
KEY QUOTES:
“We have seen an overwhelming appetite for New York City investment from sophisticated domestic and international investors who recognize the opportunity and share the desire to invest alongside SL Green in this market. It is especially gratifying to work with so many existing institutional partners, while bringing on capital from new relationships as well. Reaching this milestone marks an important first step in the continued growth of SL Green’s asset management platform.”
Harrison Sitomer, Chief Investment Officer at SL Green
“The strong global demand underscores the market’s confidence in SL Green’s ability to source and execute high-conviction opportunities in New York City and is a clear testament to our track record as a disciplined investor and operator in one of the world’s most competitive markets. We deeply appreciate the continued support of our partners as we now turn our focus to deploying capital into a robust pipeline of opportunities.”
Young Hahn, Senior Vice President at SL Green
