Safehold Closes Ground Lease for Affordable Housing Development in Woodland Hills

Rhea-AI Summary

Safehold (NYSE: SAFE) closed a ground lease for a Low Income Tax Credit affordable housing development in Woodland Hills, Los Angeles.

The Warner Center project will deliver 207 units in 2028 and will be developed by Meta Housing. Safehold said it created a dedicated Affordable Housing team in 2025 and continues to expand its forward investment pipeline for ground lease capital.

The company reiterated its REIT model and focus on ground leases across multifamily, affordable housing and other property types.

Key Figures

Affordable units 207 units Total units in Woodland Hills Low Income Tax Credit development

Target delivery year 2028 Expected delivery of Woodland Hills affordable housing project

Team launch year 2025 Year Safehold established dedicated Affordable Housing team

Current price $13.89 Price prior to news, <b>28.88%</b> below 52-week high

52-week range $12.76–$19.53 52-week low and high before this announcement

Market cap $978,038,860 Equity value prior to the affordable housing ground lease news

Daily move 1.91% Price change over the last 24h before/into this news

20-day avg volume 475,199 shares Average trading volume vs today’s 464,917 shares

Market Reality Check

$14.65 Last Close

Volume Volume 464,917 is roughly in line with the 20-day average 475,199. normal

Technical Shares at $13.89 are trading below the 200-day MA of $15.17 and 28.88% under the 52-week high.

Peers on Argus

Peers show mixed moves, with names like GNL up 0.34% and AAT down 0.91%, suggesting SAFE’s 1.91% gain is more stock-specific than sector-driven.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 15	Dividend declaration	Neutral	-2.1%	Announced Q4 2025 common dividend and payment/record dates.
Dec 03	Incentive awards	Neutral	-2.1%	Granted inducement RSUs to new President with performance hurdles.
Dec 01	Executive appointment	Positive	-3.0%	Appointed Michael Trachtenberg as President to drive growth.
Nov 25	Debt financing	Positive	+0.1%	Closed $400M unsecured term loan extending debt maturity profile.
Nov 24	Credit rating upgrade	Positive	+3.9%	S&P upgraded corporate rating to A- with stable outlook.

Pattern Detected

Recent news often saw negative reactions to otherwise constructive corporate developments, with only credit rating and financing news aligning positively with price.

Recent Company History

Over the last few months, Safehold reported several milestones: a credit rating upgrade to A-, a $400M unsecured term loan, leadership changes including appointing a new President, and a quarterly dividend of $0.177 per share. Price reactions were mixed, with governance and compensation-related updates seeing mild selloffs while balance sheet and rating improvements aligned with modest gains. Today’s affordable housing ground lease extends the strategy of expanding the ground lease portfolio, including a dedicated Affordable Housing focus.

Market Pulse Summary

This announcement highlights Safehold’s continued expansion in affordable housing via a new ground lease supporting a 207-unit Low Income Tax Credit development in Woodland Hills, with delivery targeted for 2028. It builds on the dedicated Affordable Housing team formed in 2025 and extends the modern ground lease strategy into a need-driven submarket. Investors may watch for additional similar transactions, the pace of pipeline conversion, and how these projects contribute to long-term income and portfolio diversification relative to the $13.89 share price and $978,038,860 market cap.

Key Terms

ground lease financial

"Safehold Inc. ... has closed on a ground lease for the development"

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.

affordable housing technical

"ground lease for the development of an Affordable Housing community"

Housing that is priced or subsidized so households with low to moderate incomes can afford rent or mortgage payments without stretching their budgets; this can include apartments, houses, or units with government support, income limits, or below‑market rents. Investors care because affordable housing often creates steady demand, access to government incentives or guarantees, and lower vacancy risk—like owning neighborhood stores that reliably serve local customers despite economic ups and downs.

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-producing real estate, like shopping centers, apartments, or office buildings. For investors, REITs offer a way to invest in real estate without having to buy property directly, often providing regular income through dividends. They function like a mutual fund for real estate, making it easier for people to add property investments to their portfolio.

AI-generated analysis. Not financial advice.

NEW YORK, Jan. 6, 2026 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE), the creator and leader of the modern ground lease industry, has closed on a ground lease for the development of an Affordable Housing community in the Woodland Hills community of Los Angeles, California. The Low Income Tax Credit development, located in the Warner Center area, will provide 207 total units upon delivery in 2028. The project will be developed by Meta Housing, a leading Affordable Housing development firm based in Los Angeles.

"We're thrilled to establish a relationship with the team at Meta, and to be a part of this high-quality development in a submarket with significant need for affordable product," said Steve Wylder, Safehold's Head of Investments. "We have continued to expand our presence in the Affordable Housing space and are encouraged by the strong demand for our ground lease capital and growth in our forward investment pipeline."

Safehold established a dedicated Affordable Housing team in 2025 with the goal of expanding its investment into the sector. Additional information is available at www.safeholdaffordablehousing.com.

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:   Steve Wylder Head of Investments T: 310.315.5566 E: swylder@safeholdinc.com Ethan Torbati Vice President, Investments T: 310.315.5580 E: etorbati@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/safehold-closes-ground-lease-for-affordable-housing-development-in-woodland-hills-302653302.html

SOURCE Safehold

FAQ

What did Safehold (SAFE) announce on January 6, 2026 about Woodland Hills?

Safehold announced it closed a ground lease for an affordable housing development in Woodland Hills that will deliver 207 units in 2028.

Who is developing the Safehold (SAFE) Woodland Hills affordable housing project?

The project will be developed by Meta Housing, a Los Angeles–based affordable housing developer.

When will the Safehold (SAFE) Woodland Hills project be completed and how many units will it have?

The Warner Center development is scheduled for delivery in 2028 with 207 total units.

What is Safehold's (SAFE) strategy for affordable housing following the Woodland Hills lease?

Safehold said it established a dedicated Affordable Housing team in 2025 and is expanding its ground lease capital and forward investment pipeline in the sector.

How does the Woodland Hills ground lease relate to Safehold's business model (SAFE)?

The ground lease aligns with Safehold's REIT strategy of providing long-term land capital for multifamily and affordable housing to unlock land value beneath buildings.