Safehold Appoints Michael Trachtenberg as President

Rhea-AI Summary

Safehold (NYSE: SAFE) announced on December 1, 2025 the appointment of Michael Trachtenberg as President. Mr. Trachtenberg will oversee operations and execution companywide and report directly to CEO Jay Sugarman.

Mr. Trachtenberg brings more than two decades of operational real estate experience, most recently serving as President of Lubert-Adler, where he led investments, portfolio management and structuring joint ventures and recapitalizations. The company said the appointment follows an extensive board search and aims to support Safehold's next phase of growth in the modern ground lease market.

Positive

• Appointment effective December 1, 2025
• Executive with more than two decades of industry experience
• Prior role: President at Lubert-Adler
• Mandate: oversee operations and execution companywide

Negative

• None.

News Market Reaction

-3.03%

1 alert

-3.03% News Effect

On the day this news was published, SAFE declined 3.03%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Reality Check

Price: $15.06 Vol: Volume 463,813 is 1.09x t...

normal vol

$15.06 Last Close

Volume Volume 463,813 is 1.09x the 20-day average of 424,075 shares normal

Technical Shares at 14.01, trading below the 200-day MA of 15.57 and well under the 52-week high of 21.75

Peers on Argus

SAFE is up 0.58% while close peers are mixed: GNL -0.6%, AAT +0.31%, AHH -0.43%,...

SAFE is up 0.58% while close peers are mixed: GNL -0.6%, AAT +0.31%, AHH -0.43%, GOOD -0.09%, CTO -0.73%, suggesting a company-specific reaction to the leadership appointment.

Historical Context

5 past events · Latest: Dec 03 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 03	Inducement equity awards	Neutral	-2.1%	Large inducement RSU package for new President tied to performance metrics.
Dec 01	Leadership appointment	Positive	-3.0%	Appointment of Michael Trachtenberg as President to support growth strategy.
Nov 25	Term loan financing	Positive	+0.1%	Closed $400M unsecured term loan to refinance debt and boost liquidity.
Nov 24	Credit rating upgrade	Positive	+3.9%	S&P upgraded corporate rating to A-, citing asset quality and stability.
Nov 07	Related-party earnings	Neutral	+3.4%	Star Holdings reported Q3 results including mark-to-market on SAFE shares.

Pattern Detected

Recent news has often seen SAFE trade against intuitively positive items like leadership appointments and compensation awards, while credit upgrades and balance sheet moves aligned with positive price reactions.

Recent Company History

Over the last month, SAFE reported several notable developments. On Nov 5, 2025 and Nov 6, 2025, it highlighted higher earnings, portfolio growth and updated portfolio valuation metrics. A subsequent $400M unsecured term loan and an A- credit rating upgrade supported its balance sheet and funding profile. More recently, leadership-focused items—appointing Michael Trachtenberg as President and detailing his inducement awards—were followed by negative price moves, indicating the market previously reacted cautiously to governance and compensation news compared with balance sheet and rating improvements.

Market Pulse Summary

This announcement highlights Safehold’s decision to appoint an experienced institutional real estate...

Analysis

This announcement highlights Safehold’s decision to appoint an experienced institutional real estate operator as President to oversee operations and execution. In recent months the company also emphasized credit strength, term financing and portfolio metrics. Investors following this development may focus on how the new President’s background in complex transactions and portfolio management influences ground lease growth, capital allocation discipline, and long-term alignment with shareholders’ return objectives.

Key Terms

ground lease, real estate investment trust (REIT), capital markets, recapitalizations, +1 more

5 terms

ground lease technical

"the creator and leader of the modern ground lease industry"

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.

real estate investment trust (REIT) financial

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

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.

capital markets financial

"where he gained experience in real estate finance, capital markets and structured transactions"

Capital markets are places where people and organizations buy and sell long-term investments like stocks and bonds. They help connect those who need money to grow or fund projects with investors looking to earn returns over time. For investors, capital markets are important because they offer opportunities to invest, save, and grow their wealth through a variety of financial assets.

recapitalizations financial

"structuring complex joint ventures, recapitalizations and portfolio acquisitions"

Recapitalizations are deliberate changes to a company's mix of debt and equity—like rearranging the pieces of a household budget—to alter how the business is funded and who bears financial risk. Investors care because swapping debt for equity or vice versa affects future interest payments, potential profit per share, dilution of ownership and who controls decisions; those shifts can change a stock's risk profile, credit standing and upside potential.

structured transactions financial

"experience in real estate finance, capital markets and structured transactions"

Structured transactions are customized financial arrangements that combine loans, securities, derivatives or other contracts into a single package designed to meet specific cash-flow, tax, or risk objectives. Think of them as a tailored financial toolbox—like a custom-built appliance—meant to deliver particular outcomes; investors care because these deals can change a company’s reported profits, debt levels and exposure to market swings, affecting valuation and risk in ways that aren’t always obvious from headline numbers.

AI-generated analysis. Not financial advice.

NEW YORK, Dec. 1, 2025 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE), the creator and leader of the modern ground lease industry, today announced the appointment of Michael Trachtenberg, a real estate industry veteran with more than two decades of operational experience, as President of the Company. In this role, Mr. Trachtenberg will oversee operations and execution across the business, working directly with Safehold's Chief Executive Officer Jay Sugarman.

"Michael is a sophisticated, results-driven operator with deep expertise in institutional real estate investment management," said Jay Sugarman, Chairman and Chief Executive Officer of Safehold. "He joins at a time when the Company has a growing opportunity set, and property owners are increasingly recognizing the strategic and financial benefits of modern ground lease structures. With the mission-critical skillsets Michael brings, we are confident that he will help fuel Safehold's next stage of growth, revolutionizing real estate ownership and driving long-term value for our shareholders."

Stefan Selig, Safehold's Lead Director, said, "We are delighted to welcome Michael as Safehold's President. This appointment is the result of an extensive search process conducted by the Board, in which Michael's track record of driving growth, improving performance and creating operational excellence stood out. The Board is highly confident that Michael's leadership, real estate experience and relationships will add immediate value, and that he will play a significant role in guiding Safehold's next phase of growth."

"Safehold has established itself as the pioneer and standard-bearer in the ground lease market, with a best-in-class portfolio, strong customer brand and a balance sheet that creates significant competitive advantages," said Michael Trachtenberg, President of Safehold. "I look forward to working closely with Jay and the team at Safehold to execute on our strategic priorities and deliver attractive risk-adjusted returns."

Mr. Trachtenberg joins Safehold from Lubert-Adler, a multibillion-dollar real estate fund manager, where he most recently served as President. He was a key member of the firm's senior leadership team involved in a wide range of real estate initiatives, including new investments, portfolio management, investor engagement and key operational functions. During his nearly 20 years at Lubert-Adler, Mr. Trachtenberg invested across many major United States real estate markets and asset classes, including multifamily, retail, hotel and mixed-use properties. He was instrumental in structuring complex joint ventures, recapitalizations and portfolio acquisitions.

Prior to joining Lubert-Adler in 2005, Mr. Trachtenberg worked as an analyst at Merrill Lynch, where he gained experience in real estate finance, capital markets and structured transactions. He graduated from New York University's Stern School of Business with a B.S. in Accounting and Finance.

Forward-Looking Statements:

This press release may contain forward-looking statements. All statements other than statements of historical fact are forward-looking statements. These forward-looking statements can be identified by the use of words such as "expect", "plan", "will", "estimate", "project", "intend", "believe", and other similar expressions that do not relate to historical matters. These forward-looking statements reflect the Company's current views about future events, and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause the Company's actual results to differ significantly from those expressed in any forward-looking statement. The Company does not guarantee that the events described will happen as described (or that they will happen at all). 

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, 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.

Company Contact: 

Pearse Hoffmann
Senior Vice President
Head of Corporate Finance
T 212.930.9400
E investors@safeholdinc.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/safehold-appoints-michael-trachtenberg-as-president-302628472.html

SOURCE Safehold

FAQ

Who is Michael Trachtenberg and what role did Safehold (SAFE) give him on December 1, 2025?

Michael Trachtenberg was appointed President of Safehold (SAFE) on December 1, 2025.

What responsibilities will Michael Trachtenberg have as President of Safehold (SAFE)?

He will oversee operations and execution across the business and work directly with CEO Jay Sugarman.

What is Michael Trachtenberg's prior experience before joining Safehold (SAFE)?

He served as President of Lubert-Adler and worked nearly 20 years on investments, portfolio management, and joint ventures.

How did Safehold describe the board's selection of Michael Trachtenberg for the President role?

The board said the appointment followed an extensive search and highlighted his track record driving growth and operational excellence.

Will Michael Trachtenberg's appointment change Safehold's business strategy or guidance for SAFE shareholders?

The announcement states he will help execute strategic priorities, but it does not provide any financial guidance or quantified strategy changes.