Safehold Signs Agreement to Originate New $180 Million Ground Lease in New York City
November 18 2019 - 4:05PM
Business Wire
Safehold Inc. (NYSE: SAFE) announced it has entered into a
definitive agreement with an institutional investment manager to
create a new $180 million Safehold™ ground lease under the office
property at 685 Third Avenue in New York City. The transaction is
expected to close in 2019, and is subject to customary closing
conditions.
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the full release here:
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685 Third Ave. (Photo: Business Wire)
685 Third Avenue is a 31-story, 639K SF office building in
Manhattan’s Grand Central submarket. The building is one block from
Grand Central terminal with access to the Metro-North Commuter Rail
and to the 4, 5, 6, and 7 subway lines. The property has an
attractive footprint, occupying the entire city block and has
undergone significant capital improvements since 2004.
About Safehold:
Safehold Inc. (NYSE: SAFE) is a publicly traded REIT that
originates and acquires ground leases in order to generate
attractive long-term risk-adjusted returns.
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version on businesswire.com: https://www.businesswire.com/news/home/20191118005810/en/
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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