Safehold Inc.

Safehold Inc.'s operating company, Safehold GL Holdings LLC, completed a private placement of $225 million aggregate principal amount of 6.615% Senior Notes due August 1, 2056. The notes feature a stairstep cash interest rate starting at 4.00% and increasing over time, with the difference accruing as paid-in-kind interest. The company intends to use the net proceeds for general corporate purposes, including debt repayment and ground lease investments, and expects an effective semi-annual yield to maturity of approximately 5.83% after a $30 million hedge gain.

Safehold Inc. announced the formation of a joint venture with a Brookfield affiliate involving a portfolio of diversified ground leases. Brookfield will acquire a non-controlling 49% interest in the venture at a gross valuation of approximately $348 million. Safehold will retain day-to-day control and management of the assets, with the venture expected to be consolidated on its financial statements. The net proceeds from the transaction will be allocated towards debt repayment and general corporate purposes.

Safehold Inc. announced that its shareholders approved an amendment to the 2009 Long-Term Incentive Plan (LTIP) at the 2026 Annual Meeting of Stockholders. This amendment increases the aggregate number of shares available for issuance by 3,000,000, bringing the total to 3,481,936. Additionally, shareholders elected five directors, ratified Deloitte & Touche LLP as the independent auditor for 2026, and approved the compensation of named executive officers on an advisory basis.

Safehold Inc. announced its estimated unrealized capital appreciation (UCA) in its owned residual portfolio was $9,510 million as of March 31, 2026. The company, formed from the merger of Old SAFE and iStar in March 2023, calculates UCA as the excess of aggregate "Combined Property Value" over the cost basis of its Ground Lease portfolio. This metric helps assess the safety of its capital structure position and the quality of long-term cash flows, with independent valuations provided by CBRE, Inc.

Safehold Inc. reported its first-quarter 2026 results, with revenue increasing to $110.9 million. Net income attributable to common shareholders was $28.9 million, resulting in earnings per share of $0.40. The company closed $68 million in new originations and saw its estimated Unrealized Capital Appreciation grow to $9.5 billion, while also repurchasing shares.