Welcome to our dedicated page for Safehold news (Ticker: SAFE), a resource for investors and traders seeking the latest updates and insights on Safehold stock.
Safehold Inc. reports recurring developments as a real estate investment trust focused on long-term ground leases and related leasehold financing. Its news centers on quarterly earnings, new ground lease originations, leasehold loans, common stock dividends and portfolio measures such as estimated unrealized capital appreciation tied to residual provisions in its ground lease investments.
Company updates also cover Safehold's activity across multifamily, affordable housing, office, industrial, hospitality, student housing, life science and mixed-use properties. Recent announcements emphasize affordable housing ground leases, Low-Income Housing Tax Credit projects, market expansion and relationships with real estate developers using ground lease capital in project financing.
On February 7, 2022, Safehold Inc. (NYSE: SAFE) announced the promotion of Brett Asnas to Chief Financial Officer for both Safehold and its largest shareholder, iStar Inc. (NYSE: STAR). With over 12 years at iStar, Asnas brings expertise in corporate finance, strategy, and capital markets. CEO Jay Sugarman praised Asnas' leadership in achieving key financial goals, highlighting the importance of his role during this pivotal time for the company. Safehold aims to innovate in the ground lease industry while delivering income and capital appreciation to shareholders.
Safehold Inc. (NYSE: SAFE) announced the promotion of Theresa Ulyatt to Chief People Officer at iStar Inc. (NYSE: STAR), its founder and largest shareholder. Ulyatt, who has been with iStar since 2018, will spearhead talent acquisition, management, and employee engagement. President and Chief Investment Officer Marcos Alvarado emphasized her role in fostering a winning culture, highlighting the company's commitment to employee development. The company aims to provide safe, growing income and long-term capital appreciation to its shareholders.
iStar Inc. (NYSE: STAR) has promoted Theresa Ulyatt to Chief People Officer as part of its commitment to enhance talent management and employee engagement. Ulyatt, who joined the company in 2018, will oversee all human resources functions and continue fostering a winning corporate culture. President Marcos Alvarado emphasized the importance of Ulyatt's leadership in nurturing employee success, while Ulyatt expressed her dedication to developing top talent. iStar focuses on revolutionizing the ground lease sector and has completed over $40 billion in transactions in the past two decades.
iStar Inc. (NYSE: STAR) has promoted Brett Asnas to Chief Financial Officer for both iStar and Safehold (NYSE: SAFE). Asnas, with over 12 years at iStar, previously served as Executive Vice President and Head of Capital Markets. His extensive background includes oversight of corporate finance, strategy, and capital markets activities. iStar aims to revolutionize the ground lease sector, leveraging modern leasing and financing practices. With over $40 billion in transactions over two decades, the company focuses on creating value for real estate owners.
iStar Inc. (NYSE: STAR) has signed a definitive agreement to sell a portfolio of net lease assets for $3.07 billion. This portfolio includes 18.3 million square feet of office, entertainment, and industrial properties. The buyer is an affiliate of Carlyle's Global Credit platform, with the deal expected to close in Q1 2022.
The sale will yield a net positive impact of approximately $525 million to net income and $1.1 billion in cash proceeds after debt repayment. The company anticipates recording $40 million in expenses and $565 million in gains in the respective quarters.
Safehold Inc. (NYSE: SAFE) announced a master note purchase agreement for a private placement of $475 million in 3.980% senior notes due February 15, 2052. The notes are priced at the 30-year Treasury rate plus a spread of +180 basis points. Funds can be drawn up to two times by April 18, 2022, subject to customary closing conditions. The proceeds will be used to repay debt and for general corporate purposes, including investments in ground leases. The notes are not registered under the U.S. Securities Act and may not be sold without proper registration.
iStar (NYSE: STAR) has announced the tax treatment for its 2021 dividends, detailing distributions for both common and preferred stock. Shareholders of iStar's common stock received $0.485 per share over four distributions in 2021, while preferred stockholders received $2.00 annually, paid in quarterly installments. Dividend payments are set for March 15, June 15, September 15, and December 15, 2021. The tax characterization identifies ordinary income, return of capital, and capital gains for various payments, providing shareholders with essential tax information.
Safehold Inc. (NYSE: SAFE) has announced its entry into the Chicago market with the recapitalization of 1000 South Clark, a Class A multifamily building. Completed in December 2021, the 29-story structure features 469 units and extensive amenities. This expansion allows JDL Development to secure full ownership while benefiting from lower capital costs through Safehold’s ground lease service. The firm aims to enhance real estate ownership efficiency, paving the way for superior returns and reduced risks for property owners in the Chicago MSA.
Safehold Inc. (NYSE: SAFE) announced the tax treatment of its 2021 common stock dividends. Key details include:
- Record Dates: 1/4/21, 3/31/21, 6/30/21, 9/30/21
- Payment Dates: 1/15/21, 4/15/21, 7/15/21, 10/15/21
- Dividend Distribution: $0.16224 for the first two quarters and $0.17 for the last two quarters, with total ordinary income reported as $0 for all distributions.
This information serves as guidance for shareholders on tax implications for the dividends received in 2021.
Safehold Inc. (NYSE: SAFE) has appointed Jesse Hom to its Board of Directors, effective immediately. Hom brings over 15 years of experience in the commercial real estate sector, focusing on investments and asset management. He is currently the Managing Director and Global Head of Real Estate Credit at GIC, Singapore's sovereign wealth fund. The company aims to provide innovative ground lease solutions to enhance property ownership values, supporting safer and growing returns for shareholders.