NEW YORK CITY-SL Green Realty Corp. said late Wednesday afternoon that it would buy back up to $100 million of two series of notes issued by its Reckson Operating Partnership LP subsidiary, a move in line with its current focus on refinancing some of its debt. Separately, three other REITs—Kimco Realty Corp., Equity Residential and AvalonBay Communities Inc.—announced public market initiatives, with Kimco making a $175-million perpetual preferred stock offering and Equity and AvalonBay pricing the offerings that will help finance their acquisition of Archstone Enterprise LP.

SL Green is offering to buy back all $98.6 million of the outstanding 5.875% Reckson notes that come due in 2014, and some of the $275 million of outstanding 6% notes that mature in 2016. The REIT is offering $1,035 for every $1,000 of 5.875% notes and $1,080 per $1,000 of the 6% notes, with a $30 premium for tendering the notes prior to Dec. 11. J.P. Morgan Securities LLC and Wells Fargo Securities LLC have been hired as dealer managers for the buyback.

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