Safehold Closes Six Ground Leases for Affordable Housing Developments in Los Angeles
Rhea-AI Summary
Safehold (NYSE: SAFE) closed six ground leases to finance the development of six Low-Income Tax Credit affordable housing communities in Los Angeles with a newly formed developer, HVN Development. The projects are expected to deliver more than 400 units across West and Central Los Angeles and the San Fernando Valley, with completion targeted in 2027. Safehold highlighted its 99-year ground lease capital as a low-cost funding tool to advance LIHTC developments and noted these are infill locations with strong unmet demand. Additional information is available on Safehold's affordable housing platform.
Positive
- Closed six ground leases to fund LIHTC affordable housing developments
- Supports development of more than 400 units across Los Angeles
- Projects target completion in 2027
- Uses 99-year ground lease capital to advance affordable housing
Negative
- None.
News Market Reaction
On the day this news was published, SAFE declined 0.07%, reflecting a mild negative market reaction. This price movement removed approximately $723K from the company's valuation, bringing the market cap to $1.03B at that time. Trading volume was elevated at 2.0x the daily average, suggesting increased selling activity.
Data tracked by StockTitan Argus on the day of publication.
"We are excited to establish a relationship with the team at HVN and continue expanding our presence in the Affordable Housing sector," said Steve Wylder, Safehold's Head of Investments. "We are finding our low-cost, 99-year ground lease capital can be very useful in moving these LIHTC projects forward."
The developments will provide more than 400 total units upon completion in 2027, across neighborhoods in West and
"These are high-quality infill locations with significant unmet demand for affordable product, and we are pleased our capital could play a role in delivering these communities," added Ethan Torbati, Vice President at Safehold.
Additional information on Safehold's Affordable Housing platform 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.
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Transaction Contacts:
Head of Investments
Ethan Torbati
Vice President, Investments |
IR Contact:
Pearse Hoffmann
SVP, Head of Corporate Finance
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SOURCE Safehold
FAQ
What did Safehold (SAFE) announce on November 4, 2025 about Los Angeles projects?
How many affordable housing units will Safehold's new ground leases in LA deliver and when?
Who is the developer partnered with Safehold for the six Los Angeles LIHTC projects (SAFE)?
What financing structure is Safehold (SAFE) using for the affordable housing deals in Los Angeles?
Which Los Angeles neighborhoods will the Safehold-backed affordable housing projects serve?
Where can investors find more information about Safehold's affordable housing platform (SAFE)?
