Safehold Closes Ground Lease for Florida Multifamily Recapitalization

Rhea-AI Summary

Safehold Inc. (NYSE: SAFE), a leader in the modern ground lease industry, has completed a significant transaction involving a ground lease for a 336-unit multifamily property in Florida's Space Coast region. This marks Safehold's 18th deal in Florida and its first collaboration with Texas-based JT Capital. The transaction includes both a ground lease and a leasehold loan to facilitate the recapitalization of the stabilized property. The deal demonstrates Safehold's ability to provide efficient financing solutions and lower-cost, long-term capital to property owners. This expansion in the Florida market reinforces Safehold's position as a key player in the ground lease industry while establishing a new strategic partnership with JT Capital.

Positive

• Expansion into Florida Space Coast market with 18th transaction in the state
• New strategic partnership established with JT Capital, expanding client base
• Diversification of portfolio with a stabilized 336-unit multifamily property
• Demonstration of ability to provide both ground lease and leasehold loan solutions

Negative

• None.

NEW YORK, June 2, 2025 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE), the creator and leader of the modern ground lease industry, has closed on a ground lease to facilitate the recapitalization of a stabilized, 336-unit multifamily property in the growing Florida Space Coast. The deal is Safehold's 18^th in Florida and first with JT Capital, an experienced Texas-based investment management firm.

"We're thrilled to establish a relationship with JT Capital and expand our modern ground lease footprint," said Tim Doherty, Safehold's Chief Investment Officer. "We continue to leverage the efficiencies of our structure to help owners access lower-cost, long-term capital."

"We're proud to deliver a capital structure tailored to JT Capital's strategic goals that showcases our commitment to unlocking value and executing quickly," added Emily Jones, Vice President at Safehold.

Safehold provided a leasehold loan in addition to a long-term ground lease to facilitate the transaction.

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:	IR Contact:
Tim Doherty Chief Investment Officer T: 212.930.9433 E: tdoherty@safeholdinc.com	Pearse Hoffmann SVP, Head of Corporate Finance T: 212.930.9400 E: investors@safeholdinc.com
Emily Jones Vice President, Investments T: 310.315.5580 E: ejones@safeholdinc.com

 

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SOURCE Safehold

FAQ

What is the significance of Safehold's (SAFE) latest ground lease deal in Florida?

The deal marks Safehold's 18th transaction in Florida and first partnership with JT Capital, involving a 336-unit multifamily property in the Florida Space Coast region, demonstrating their continued expansion and ability to provide innovative financing solutions.

How many units are involved in Safehold's (SAFE) new Florida Space Coast property deal?

The ground lease deal involves a 336-unit multifamily property in the Florida Space Coast region.

Who is Safehold's (SAFE) new partner in the Florida multifamily ground lease transaction?

Safehold partnered with JT Capital, a Texas-based investment management firm, marking their first collaboration together.

What type of financing did Safehold (SAFE) provide for the Florida Space Coast property?

Safehold provided both a long-term ground lease and a leasehold loan to facilitate the recapitalization of the property.

How many deals has Safehold (SAFE) completed in Florida?

This transaction represents Safehold's 18th deal in Florida.