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SL Green Plumps Up Budget for Share Repurchases

The New York-based REIT is bulking up its share repurchase program, adding $500 million in common stock for a total of $3 billion.

NEW YORK CITY – SL Green Realty Corp., a New York-based real estate investment trust specializing in office, has decided to bulk-up its share repurchase program, adding $500 million in common stock for a total of $3 billion.

The program is intended to create value for shareholders and coincides with the selling off of mature assets for new, high-quality assets. The REIT has narrowed its focus to acquiring Class A office assets while buying back the shares from the new premium properties at a discounted rate.

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Mariah Brown

Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.

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