Safehold Closes A New $285 Million Ground Lease in New York City
December 12 2019 - 4:30PM
Business Wire
Safehold Inc. (NYSE: SAFE) has closed on the previously
announced $285 million Safehold™ ground lease under the office
property at 135 West 50th Street in New York City.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20191212005794/en/
135 W. 50th St. (Photo: Business
Wire)
“We are witnessing significant customer demand for our
innovative capital solution in New York City,” said Marcos
Alvarado, President and Chief Investment Officer. “Institutional
owners of commercial real estate are increasingly understanding the
benefits delivered by a Safehold™ ground lease and we are excited
to add another high-quality asset to our rapidly-scaling
portfolio.”
135 West 50th Street is a 929K SF office building in Midtown
Manhattan. The building provides excellent access to transit,
hotels and amenities, and is currently undergoing significant
capital improvements and renovations to strengthen its position in
the market.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191212005794/en/
Customer: 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
Safehold (NYSE:SAFE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Safehold (NYSE:SAFE)
Historical Stock Chart
From Apr 2023 to Apr 2024