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Safehold Closes Ground Lease for Massachusetts Multifamily Development

1. Safehold closed a ground lease for a 364-unit development in Boston. 2. This is Safehold's first deal with The Michaels Organization. 3. Their ground lease solution is gaining adoption in multifamily projects. 4. Safehold manages over 85 multifamily assets across top U.S. markets. 5. The company aims to deliver low-cost capital for maximizing property value.

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FAQ

Why Bullish?

New partnerships and asset developments typically bolster investment confidence, as seen in past growth spurs following similar transactions in the REIT sector.

How important is it?

The significant deal enhances SAFE's growth trajectory, impacting investor interest and confidence in short-term performance.

Why Short Term?

The immediate announcement of a new ground lease can positively influence stock sentiment and market reaction in the near future.

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MCOAMTOVNQ
, /PRNewswire/ -- Safehold Inc. (NYSE: SAFE), the creator and leader of the modern ground lease industry, has closed on a ground lease to facilitate the development of The Benjamin, a ground-up, 364-unit multifamily development in the Boston MSA. The deal is Safehold's first with The Michaels Organization, a large-scale national multifamily investor, developer and operator. "We're pleased to see the growing adoption of our ground lease solution for multifamily projects in top MSAs," said Tim Doherty, Safehold's Chief Investment Officer. "We're committed to delivering low-cost, long-term capital to help owners execute their business plans and maximize value." "We continue to see our structure unlock efficiencies for ground-up developments and look forward to the opportunity to expand our relationship," added Michael Paresky, Vice President at Safehold. Safehold's diversified portfolio of modern ground leases includes over 85 multifamily assets across the top markets in the United States.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:   IR Contact:  Tim Doherty Chief Investment Officer T: 212.930.9433E: [email protected] Pearse Hoffmann SVP, Head of Corporate FinanceT: 212.930.9400E: [email protected]  Michael Paresky Vice President, InvestmentsT: 212.930.9424E: [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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