Recent Safehold Multifamily Closing Profiled in The Boston Globe

Rhea-AI Summary

Safehold (NYSE: SAFE) closed a ground lease and leasehold loan in late December to support development of 299 Broadway, a ground-up, 204-unit multifamily project in Somerville, MA. The transaction is Safehold's first with Boston developers Samuels & Associates and Mark Development.

Safehold said the structure pairs low-cost, flexible ground-lease and loan capital to help owners execute plans. The company reported a diversified ground-lease portfolio that includes over 22,000 multifamily units across top U.S. markets.

News Market Reaction – SAFE

-0.53%

-0.53% Session close to close

In the Mar 10 session, SAFE declined 0.53%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights Safehold’s continued expansion in multifamily real estate via a ground ...

Analysis

This announcement highlights Safehold’s continued expansion in multifamily real estate via a ground lease and leasehold loan supporting a 204-unit project in Somerville, MA, adding to a portfolio of over 22,000 units. It underscores the company’s model of pairing low-cost ground lease capital with development partners. In context of recent earnings and recognition for housing affordability, investors may track ongoing deal volume, portfolio performance, and any changes in capital structure or risk disclosures.

Key Figures

Somerville development units: 204 units Multifamily portfolio scale: over 22,000 units Industry creation year: 2017

3 metrics

Somerville development units 204 units 299 Broadway multifamily project in Somerville, MA

Multifamily portfolio scale over 22,000 units Ground leases across U.S. multifamily portfolio

Industry creation year 2017 Year Safehold created the modern ground lease industry

Historical Context

5 past events · Latest: Feb 19 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Feb 19	Award recognition	Positive	-0.1%	Named 2026 Ivory Prize finalist for housing affordability innovation.
Feb 17	Earnings results	Negative	-3.0%	Star Holdings reported Q4 and FY 2025 net losses tied partly to SAFE marks.
Feb 11	Earnings results	Positive	-1.4%	SAFE posted higher 2025 revenue, net income and large unrealized appreciation.
Jan 29	Earnings scheduling	Neutral	+1.1%	Announced timing and access details for Q4 and FY 2025 earnings release.
Jan 22	Dividend tax data	Neutral	-5.7%	Provided detailed 2025 dividend tax characterization and related designations.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent news, including solid earnings and recognition awards, has often been met with flat-to-negative price reactions, indicating a tendency for the stock to fade positive headlines.

Recent Company History

Over the past few months, Safehold has reported Q4 and FY’25 results with revenue of $97.9 million for Q4 and $385.6 million for FY’25, alongside $429 million of 2025 investments and estimated unrealized capital appreciation of $9.3 billion. It detailed 2025 dividend tax treatment and scheduled its earnings release and webcast. The company was also named a finalist for the 2026 Ivory Prize for housing affordability. Despite these generally constructive updates, share reactions have frequently been muted or negative, framing today’s development deal within a cautious trading backdrop.

Key Terms

ground lease, leasehold loan, real estate investment trust (REIT)

3 terms

ground lease financial

"closed on a ground lease and leasehold loan in late-December"

A ground lease is a long-term agreement where someone rents land from the owner, often for many decades. The person renting can build on or develop the land, but they don’t own it outright; the land remains owned by someone else. This matters because it affects how property is used and who benefits from its future value.

leasehold loan financial

"closed on a ground lease and leasehold loan in late-December"

A leasehold loan is financing secured by a borrower's right to use land or a building under a lease, rather than ownership of the property itself. Investors care because the loan’s security and repayment depend on the remaining length and terms of the lease—like lending against the remaining time on a rental agreement—so shorter or restrictive leases can reduce collateral value and increase risk, affecting interest rates and resale prospects.

real estate investment trust (REIT) regulatory

"The Company, which is taxed as a real estate investment trust (REIT), seeks to deliver"

A real estate investment trust (REIT) is a company that owns, operates, or finances income-generating real estate like shopping malls, apartments, or office buildings. Investors buy shares of the REIT, making it easy for people to invest in real estate without buying property themselves, and it often pays regular dividends from the rent it collects.

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NEW YORK, March 9, 2026 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE), the leader of the modern ground lease industry, closed on a ground lease and leasehold loan in late-December to facilitate the development of 299 Broadway, a ground-up, 204-unit multifamily development in Somerville, MA. The deal, featured in The Boston Globe, is Safehold's first with Samuels & Associates and Mark Development, two Boston-based multifamily developers.

"We're excited to grow our presence in the Boston MSA and work with top-tier developers that have excellent track records," said Michael Paresky, Vice President at Safehold. "The pairing of low-cost, flexible ground lease and loan capital can help owners execute their business plans and maximize value. We look forward to the opportunity to expand our relationship with Mark Development and Samuels & Associates on future projects."

Safehold's diversified portfolio of ground leases includes over 22,000 multifamily units 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:  Michael Paresky Vice President, Investments T: 212.930.9424 E: mparesky@safeholdinc.com

IR Contact: Pearse Hoffmann SVP, Head of Corporate Finance T: 212.930.9400 E: investors@safeholdinc.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/recent-safehold-multifamily-closing-profiled-in-the-boston-globe-302708485.html

SOURCE Safehold

FAQ

What did Safehold (SAFE) announce about the 299 Broadway multifamily project in Somerville on March 9, 2026?

Safehold announced it closed a ground lease and leasehold loan to facilitate a 204-unit multifamily development. According to the company, the late-December deal is its first with Samuels & Associates and Mark Development and aims to provide flexible capital for project execution.

How many units are included in the 299 Broadway development mentioned by Safehold (SAFE)?

The 299 Broadway project comprises 204 multifamily units. According to the company, Safehold structured a ground lease and leasehold loan in late December to support the ground-up development in Somerville, Massachusetts.

Who are the developer partners on the Safehold (SAFE) 299 Broadway transaction?

The transaction involved Samuels & Associates and Mark Development as developer partners. According to the company, these Boston-based multifamily developers mark Safehold's first deals with both firms in the Boston metropolitan area.

What strategic benefit did Safehold (SAFE) highlight for shareholders from the 299 Broadway ground lease?

Safehold emphasized using low-cost, flexible ground-lease and loan capital to help owners execute business plans. According to the company, this structure can help projects maximize value while supporting Safehold's focus on multifamily ground leases.

How large is Safehold's multifamily portfolio as stated in the March 9, 2026 release?

Safehold says its diversified ground-lease portfolio includes over 22,000 multifamily units across top U.S. markets. According to the company, this scale reflects its ongoing focus on multifamily and other property types since creating the modern ground lease industry.

Where can investors direct transaction or IR questions about the Safehold (SAFE) 299 Broadway closing?

Investors can contact Safehold's transaction and IR teams via the provided contacts. According to the company, Michael Paresky is listed for transaction inquiries and Pearse Hoffmann serves as IR contact with published phone and email details.