Blog Coverage SL Green Sells Partial Stake in One Vanderbilt to National Pension Service of Korea and Hines

Upcoming AWS Coverage on Realty Income Corp. Post-Earnings Results

LONDON, UK / ACCESSWIRE / January 27, 2017 / Active Wall St. blog coverage looks at the headline from New York-based office realty major SL Green Realty Corp. (NYSE: SLG) as the Company announced on January 26, 2017, sale of partial stake in its skyscraper project at One Vanderbilt Avenue. SL Green disclosed that it holds a 27.6% stake in the project to National Pension Service of Korea (NPS), and a 1.4% stake to Hines Interest L.P. The total value of the stakes sold to NPS and Hines is approximately $525 million. As part of the agreement, SL Green and Hines will co-develop the building. Register with us now for your free membership and blog access at:

http://www.activewallst.com/register/

One of SL Green Realty’s competitors within the REIT – Retail space, Realty Income Corp. (NYSE: O), announced on January 12, 2017, that it will release its operating results for the quarter and year ended December 31, 2016 after the market closes on February 22, 2017. The Company will hold a conference call on February 23, 2017 at 11:30 a.m. PT to discuss the operating results. AWS will be initiating a research report on Realty Income in the coming days.

Today, AWS is promoting its blog coverage on SLG; touching on stocks like O. Get all of our free blog coverage and more by clicking on the links below:

http://www.activewallst.com/registration-3/?symbol=SLG

http://www.activewallst.com/registration-3/?symbol=O

Comments by the three partners

Marc Holliday, CEO of SL Green commented:

“The National Pension Service of Korea is an extraordinary partner for us at One Vanderbilt and will help realize our shared vision for developing the best building in New York City. Hines has been with us at One Vanderbilt from the beginning and will be a terrific addition to the joint venture.”

Scott Kim, Head of Global Real Estate, National Pension Service of Korea added:

“One Vanderbilt Avenue will transform New York’s skyline and set a new standard for world-class office space, and the National Pension Service of Korea is thrilled to join SL Green and add this new icon to our portfolio.”

Gerald Hines, Founder and Chairman of Hines added:

“It is a privilege for Hines, after seven years of working together on this iconic project, to join SL Green as well as NPS, a significant global investment partner of our firm, in the singular project that is One Vanderbilt.”

About One Vanderbilt

One Vanderbilt is a 58-story, 1.7 million-square-foot commercial office tower located adjacent to Grand Central Terminal, in Midtown Manhattan between Madison and Vanderbilt Avenues and 42nd and 43rd Streets. The building has been designed by Kohn Pedersen Fox Associates and will create 1,408,000 square feet of new Class A office space and 32,000 square feet of new retail space. In October 2016, the ground-breaking ceremony took place and the building is expected to be fully completed by August 2020. Once the construction is completed, One Vanderbilt will be the tallest building in Midtown Manhattan and the second-tallest in New York City. The total cost of the project is approximately $3.14 billion.

Sells NY Property

On January 25th, 2017, SL Green Realty announced an agreement to sell 520 White Plains Road, a 180,000-square-foot office building in Tarrytown, NY, for a gross sale price of $21 million, or $117 per square foot. The transaction is expected to close during Q2 2017, subject to customary closing conditions.

Stock Performance

On Thursday, the stock closed the trading session at $110.02, climbing 1.19% from its previous closing price of $108.73. A total volume of 661.88 thousand shares have exchanged hands. SL Green Realty’s stock price advanced 4.97% in the last month, 10.29% in the past three months, and 11.39% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 2.30%. The stock is trading at a PE ratio of 37.94 and has a dividend yield of 2.82%. Shares of the Company have a market capital of $11.07 billion.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@activewallst.com

Phone number: 1-858-257-3144

Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street

ReleaseID: 453668