Welcome to our dedicated page for Star Holdings news (Ticker: STHO), a resource for investors and traders seeking the latest updates and insights on Star Holdings stock.
Star Holdings reports developments tied to a real estate portfolio managed for monetization through asset management, loan repayments and property sales. Its recurring updates cover interests in the Asbury Park Waterfront and Magnolia Green residential development projects, other commercial real estate properties, loans held for sale or planned monetization, and its ownership of Safehold Inc. shares.
Company news commonly includes quarterly and annual results, land revenue from development-lot or parcel sales, loan repayments, non-cash SAFE mark-to-market adjustments, financing amendments, share repurchase activity and management-agreement matters.
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Safehold Inc. (NYSE: SAFE) has successfully merged with iStar Inc., finalizing a multi-year strategy aimed at enhancing the ground lease market. Following this merger, the combined entity will continue to operate under the Safehold name and ticker symbol 'SAFE'. Additionally, prior to the merger's completion, iStar executed a spin-off, distributing 0.153 shares of Star Holdings (NASDAQ: STHO) for every iStar share held by stockholders. This merger is anticipated to yield significant benefits for stakeholders, positioning Safehold as a leader in the ground lease sector.
On March 17, 2023, iStar Inc. (NYSE: STAR) announced a conditional pro rata distribution of 0.153 common shares of Star Holdings to iStar shareholders as part of its spin-off of legacy assets. This distribution is set for March 31, 2023, for shareholders on record as of March 27, 2023, and is necessary for iStar's merger with Safehold Inc. (NYSE: SAFE). Star Holdings shares will trade on Nasdaq under the symbol 'STHO' following the spin-off. The merger with Safehold will occur immediately after the spinoff, subject to closing conditions. Shareholders will receive cash for fractional shares, and further details are available in the filed information statement.