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Safehold Closes Ground Lease for Affordable Housing Development in San Diego

1. Safehold closed a ground lease for 227 affordable housing units in San Diego. 2. The project aligns with Safehold's focus on the Low-Income Tax Credit (LIHTC) sector. 3. Safehold expanded its relationship with The Pacific Companies, a repeat developer partner. 4. Eight ground leases closed for LIHTC developments in California total over 1,600 units. 5. Safehold aims to generate higher returns with less risk for multifamily and mixed-use properties.

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Why Bullish?

This strategic move aligns with current market demand for affordable housing, potentially enhancing cash flow and shareholder value. Historical trends show similar expansions often lead to positive price movements. For instance, when Safehold previously announced projects, the stock typically responded favorably.

How important is it?

The article highlights Safehold’s active engagement in affordable housing, a growing market area. Given the increasing demand for affordable housing solutions and Safehold's leadership role in ground leases, initiatives like these are likely to positively influence investor sentiment and market dynamics.

Why Long Term?

The project's completion is set for 2028, indicating potential long-term benefits from increased revenue streams. Generally, successful developments in the affordable housing sector take time to materialize but can significantly enhance a company's market presence.

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PCLIHTCREIT
, /PRNewswire/ -- Safehold Inc. (NYSE: SAFE), the creator and leader of the modern ground lease industry, has closed on a ground lease for the development of an Affordable Housing community in the Mission Valley area of San Diego, CA. The Low-Income Tax Credit development will provide 227 total units upon delivery in 2028. The project will be developed by The Pacific Companies, a prolific developer of Affordable Housing and repeat Safehold customer. "We're thrilled to expand our relationship with The Pacific Companies and our broader investment into the Affordable Housing sector," said Steve Wylder, Safehold's Head of Investments. "We are increasingly focused on the LIHTC space and are finding our capital—which functions as a low-cost gap filler—can be a very useful tool in moving projects forward and delivering much-needed Affordable Housing." Safehold has closed on eight ground leases for LIHTC developments in California to date, providing over 1,600 units in total. Additional information on Safehold's Affordable Housing platform is available at www.safeholdaffordablehousing.com. 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, affordable housing, 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. Transaction Contacts:  Steve Wylder Head of Investments T: 212.930.9433E: [email protected] Ethan Torbati Vice President, InvestmentsT: 310.315.5580 E: [email protected] IR Contact: Pearse Hoffmann SVP, Head of Corporate FinanceT: 212.930.9400E: [email protected]  SOURCE Safehold WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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