Safehold Enters into Joint Venture with Sovereign Wealth Fund

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Apr 05, 2023, 07:15 ET

NEW YORK, April 5, 2023 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE) announced today that it has entered into a joint venture arrangement with a sovereign wealth fund focused on new acquisitions for certain ground lease investments. Safehold committed approximately $275 million for a 55% interest in the joint venture, and a sovereign wealth fund committed approximately $225 million for a 45% interest in the joint venture.

"As we navigate the rapidly changing market environment and volatile capital markets, this partnership provides Safehold with accretive capital to help serve our customers," said Marcos Alvarado, President and Chief Investment Officer.

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. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT), 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:

Pearse Hoffmann
Senior Vice President
Capital Markets & Investor Relations
T 212.930.9400
E [email protected]

SOURCE Safehold