Earnings Call Excerpt
SL Green Realty Corp. (SLG)
Q3 2007 Earnings Call
Oct 23, 2007, 2:00 p.m. ET
Executives
Mr. Marc Holliday - Chief Executive Officer
Mr. Andrew Mathias - Chief Investment Officer
Mr. Gregory F. Hughes - Chief Operating Officer and Chief Financial Officer
Steven M. Durels - Executive Vice President
Analysts
Brandon Meyer - Wachovia Capital Markets, Llc
Jonathan Habermann - Goldman Sachs
James Feldman - UBS
Mitchell Germain - Banc Of America Securities
Anthony Paolone - J.P. Morgan
Jordan Sadler - Keybanc Capital Markets
John Stewart - Credit Suisse
Michael Bilerman - Citigroup
Michael Knott - Green Street Advisors
David Todie - Lehman Brothers
Kristine Brownwith - Deutsche Bank
Presentation
Operator
Thank you everybody for joining us and welcome to SL Green Realty Corp’s Third Quarter 2007 Earnings Results Conference Call. This conference call is being recorded. At this time, the company would like to remind the listeners that during the call, management may make forward-looking statements. Actual results may differ from predictions that management may make today. Additional information regarding the factors that could cause such differences appear in the MD&A Section of the company’s form 10-Q and other reports filed with the Securities and Exchange Commission.
Also during today’s conference call, the company may discuss non-GAAP financial measures as defined by SEC regulation G, the GAAP financial measure most directly comparable to each non-GAAP financial measure discussed and the reconciliation of the differences between each non-GAAP financial measure and the comparable GAAP financial measure can be found on the company’s website at www.slgreen.com by selecting the press release regarding the company’s third quarter earnings.
Before turning the call over to Marc Holiday, Chief Executive Officer of SL Green Realty Corp. we would like to ask those of you participating in the Q &A portion of the call to please limit your questions to two per person. Thank you, go ahead Mr. Holliday.
Marc Holliday
Okay, thank you and good afternoon everyone, welcome to SL Green’s Third Quarter Earnings Call. We’re pleased you have chosen to join us today to hear our commentary on the outlook for the Manhattan Commercial Property markets and SL Green’s portfolio performance.
When we last spoke in July, I discussed the tumultuous credit market environment and the potential effects on Manhattan’s real estate market as it was too early then to provide any clear guidance.
During the last three months, many of the country’s largest commercial vendors and finance dealers have announced multi-billion dollar write-downs in the carrying values of their investment portfolios making new credit hard to obtain and the cost of such credit more expensive where obtainable.
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