NEW YORK, July 22, 2021 /PRNewswire/ -- Safehold Inc.
(NYSE: SAFE) reported results for the second quarter 2021.
Highlights from the second quarter earnings announcement
include:
— Revenue of
$44.2 million
— Net income of
$14.7 million
— Earnings per share
of $0.28
— $222 million of new ground lease
investments(1)
— $374 million of UCA growth
— $400 million initial unsecured bond offering
— Launched Ground
Lease Plus, a new Safehold product that meets customers' demands
earlier in the life cycle of an asset during the pre-development
stage
"During the second quarter, Safehold grew its portfolio by over
$200 million, while innovatively
expanding its suite of products to capture pre-development
opportunities," said Jay Sugarman,
Chairman and Chief Executive Officer. "With ample liquidity on
hand, a robust pipeline, and a lower cost of capital, Safehold is
well positioned to continue to drive growth and deliver modern
ground lease capital to a broader customer base."
SAFE published a presentation detailing these results which can
be found on its website, www.safeholdinc.com in the "Investor
Relations" section.
The Company will host an earnings conference call reviewing this
presentation beginning at 10:00 a.m.
ET. This conference call will be broadcast live and can be
accessed by all interested parties through Safehold's website and
by using the dial-in information listed below:
Dial-In:
|
877.226.8189
|
International:
|
409.207.6980
|
Access
Code:
|
1455358
|
A replay of the call will be archived on the Company's website.
Alternatively, the replay can be accessed via dial-in from
1:00 p.m. ET on July 22, 2021 through 12:00 a.m. ET on August 5,
2021 by calling:
Replay:
|
866.207.1041
|
International:
|
402.970.0847
|
Access
Code:
|
7260006
|
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.
Company Contact:
Jason Fooks
Senior Vice
President
Investor Relations & Marketing
T 212.930.9400
E investors@safeholdinc.com
(1) Investments in Q2 '21 include $12m of forward commitments that have not yet
been funded. There can be no assurance that Safehold will complete
these transactions.
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SOURCE Safehold