NEW YORK, Sept. 22, 2025 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, together with its joint venture partner, PGIM, today announced that it has completed a $1.4 billion, five-year, fixed-rate refinancing of 11 Madison Avenue. The mortgage carries a stated coupon of 5.625%, which SL Green hedged to an effective rate of 5.592% for its portion. The CMBS financing was led by Wells Fargo Bank, with participation from leading global financial institutions including J.P. Morgan Chase, Bank of America, Goldman Sachs, Deutsche Bank and Bank of Montreal.  

The new mortgage replaces the previous $1.4 billion of debt on the property, which was comprised of a $1.075 billion senior mortgage and two mezzanine loans totaling $325.0 million.

"This loan execution underscores our deep relationships with the lending community and the enduring strength of premier office assets," said Harrison Sitomer, Chief Investment Officer at SL Green. "The strong demand from global institutional bond investors resulted in one of the most successful CMBS executions in years, which is reflective of the exceptional quality of 11 Madison Avenue and the confidence investors continue to place in our platform."

"This refinancing reflects the strength of New York's office market when it comes to Class A, well-located assets that continue to attract tenants and capital," said Joanna Mulford, Managing Director and Senior Portfolio Manager of PGIM's real estate business. "We are pleased that our sponsorship along with the strength of ...