NEW YORK - SL Green Realty Corp. said it has refinanced its senior unsecured line of credit and increased it to $250 million, from $140 million.
The real estate investment trust has a provision to increase the credit line to as much as $300 million.
FleetBoston is the lead bank for the three-year credit facility. Others in the syndicate include Deutsche Bank, Salomon Smith Barney, Wells Fargo, Commerzbank, Bank of New York, Key Bank, PNC Bank, and Bank Leumi.
David J. Nettina, SL Green's president and chief operating officer, said the bank group is twice the number that participated in the previous credit facility.
SL Green specializes in buying and managing Class B office buildings - defined as older than 25 years but in good physical condition and located in desirable areas - in Manhattan. Its portfolio is valued at more than $1 billion.