The Traderszone Network

Published in TZ Latest News 21 July, 2016 by The TZ Newswire Staff

SL Green doubles cash flow amid strong leasing, cheap financing

Six months ago, SL Green Realty’s CEO Marc Holliday spoke of a “dark cloud” hanging over Manhattan’s commercial real estate market. Since then the weather appears to have cleared up considerably. The office REIT more than doubled its funds from operations (a measure of cash flow) year-over-year in the second quarter to $357.8 million on the back of stronger-than-expected leasing velocity, the company said in an earnings call Thursday.

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