Safehold Closes $275 Million Manhattan Ground Lease at 195 Broadway
November 07 2019 - 4:30PM
Business Wire
Safehold Inc. (NYSE: SAFE) has closed on the previously
announced Safehold™ ground lease under 195 Broadway in New York
City for $275 million. The newly created ground lease helped a
large institutional customer efficiently capitalize the purchase of
this iconic building.
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“The closing of 195 Broadway highlights the growing momentum of
our modern ground lease solution, delivering superior capital to
owners, operators and developers of high-quality assets,” said
Marcos Alvarado, President and Chief Investment Officer.
195 Broadway is located a block from the World Trade Center
Campus, adjacent to St. Paul’s Chapel of Trinity Church and
encompasses 1.0 million square feet of office space with
approximately 22,000 additional square feet of retail.
About Safehold:
Safehold Inc. (NYSE: SAFE) is revolutionizing real estate
ownership by providing a new and better way for owners to unlock
the value of the land beneath their buildings. Through its modern
ground lease capital solution, Safehold helps owners of high
quality multifamily, office, industrial, hospitality and mixed-use
properties in major markets throughout the United States generate
higher returns with less risk. The Company, which is taxed as a
real estate investment trust (REIT) and is managed by its largest
shareholder, iStar Inc., seeks to deliver safe, growing income and
long-term capital appreciation to its shareholders. Additional
information on Safehold is available on its website at
www.safeholdinc.com.
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Customers: Tim Doherty Executive Vice President
Co-Head of Investments T: 212.930.9433 E: tdoherty@istar.com
Investor Relations: Jason Fooks Senior Vice President
Investor Relations & Marketing T: 212.930.9400 E:
investors@safeholdinc.com
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