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SL Green and Prudential Form $250-Mil Investment Program

NEW YORK CITY-The joint venture will make structured finance investments in Midtown Manhattan commercial properties. This is the second time the firms have pooled their resources. Their last venture made them owners of 100 Park Ave.

By John Howe | Updated on July 25, 2001

NEW YORK CITY-SL Green Realty and Prudential Real Estate Investors have joined forces to make up to $250 million in structured finance investments in commercial real estate in Midtown Manhattan. The program will focus on mezzanine loans, first mortgage bridge loans, preferred equity and junior mortgage participations.

SL Green will originate, manage and service the investments as well as receive incentive returns based on investment performance. Company president Marc Holliday notes that this program will enable SL Green to broaden its presence in Midtown as well as to diversify its structured finance portfolio. This is the second time the firms have formed a joint venture. The last one brought them ownership of 100 Park Ave.

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