Welcome to our dedicated page for Safehold SEC filings (Ticker: SAFE), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page provides access to Safehold Inc. (NYSE: SAFE) SEC filings, offering detailed regulatory disclosures about the company’s ground lease business, capital structure and governance. As a real estate investment trust (REIT) focused on modern ground leases, Safehold uses its SEC reports to explain how it acquires and manages ground leases and how it evaluates unrealized capital appreciation (UCA) in its owned residual portfolio.
Through current reports on Form 8-K, investors can review material events and agreements, such as unsecured term loan credit agreements, amendments to revolving credit facilities and related financial covenants. These filings describe key ratios tied to consolidated EBITDA, fixed charges, unencumbered assets, unsecured debt and secured debt, giving insight into Safehold’s balance sheet and financing policies.
Safehold’s filings also include detailed explanations of its valuation policy for Combined Property Value and UCA. The company outlines how it engages an independent valuation firm to estimate the hypothetical fee simple value of properties subject to its ground leases, the assumptions used in those appraisals, and the limitations and qualifications that apply to these non-GAAP measures.
Corporate governance and executive matters appear in filings covering officer appointments and compensation arrangements, including inducement restricted stock unit awards, performance-based equity tied to stock price hurdles, and incentives linked to affordable housing commitments. These documents describe the terms, vesting conditions and change-in-control protections for senior leadership.
With real-time updates from EDGAR and AI-powered summaries, this page helps users navigate Safehold’s 8-Ks and other reports, understand the implications of new credit facilities or valuation disclosures, and quickly identify information relevant to SAFE shareholders, creditors and analysts.
Safehold Inc. entered into a new unsecured term loan A agreement for $400,000,000 through its subsidiary Safehold GL Holdings LLC. The term loans were fully drawn on November 25, 2025 and the company used the proceeds to repay approximately $400 million of borrowings under its $2.0 billion revolving credit facility, effectively terming out part of its existing debt.
The term loans mature on November 15, 2030 and include two one‑year extension options. The facility does not amortize and has an accordion feature that allows increasing or adding term loan tranches up to an aggregate of $600,000,000, subject to lender commitments and customary conditions. Interest is based on various SOFR or base rate options plus a margin that varies with the borrower’s credit rating.
The agreement includes financial covenants, including a minimum consolidated EBITDA to annualized fixed charges ratio of 1.15:1.00, a minimum total unencumbered assets to total unsecured debt ratio of 1.25:1.00, and a maximum secured debt to total asset value ratio of 50%. Safehold absolutely and unconditionally guarantees the borrower’s obligations under the agreement.
Safehold Inc. (SAFE) filed its quarterly report, highlighting higher earnings and steady portfolio growth. Total revenues were $96.2M for the quarter, up from $90.7M a year ago, led by $72.4M of interest income from sales‑type and Ground Lease receivables. Net income attributable to common shareholders rose to $29.3M, and diluted EPS was $0.41 versus $0.27 last year. The company declared a quarterly dividend of $0.177 per share.
On the balance sheet, total assets reached $7.15B, debt obligations were $4.51B, and total equity was $2.42B. Net investment in sales‑type leases was $3.53B and Ground Lease receivables were $1.96B. Operating cash flow for the nine months was $35.5M; investing used $180.2M; financing provided $148.8M. The company originated three leasehold loans totaling $44.5M outstanding at a weighted average rate of 6.60% and had $84.1M of performance‑based unfunded commitments as of September 30, 2025. As of November 4, 2025, common shares outstanding were 71,756,336.
Safehold Inc. (SAFE) disclosed an updated portfolio valuation metric. As of September 30, 2025, the company estimates unrealized capital appreciation (UCA) in its owned residual portfolio of $9,069 million. This reflects a Combined Property Value of $15,634 million for properties subject to its ground leases, compared with an aggregate Ground Lease cost of $6,565 million. UCA represents the excess of the hypothetical fee-simple value of the land, buildings, and improvements—assuming no ground lease—over Safehold’s cost basis.
Safehold’s process relies on independent valuations by CBRE, Inc., updated approximately every 12 months and no less than every 24 months, using recognized appraisal standards and approaches such as sales comparison and income capitalization. The company notes important limitations: rolling valuations may not reflect current market conditions, inputs rely on tenant-provided information, and UCA is a non‑GAAP measure that may change.
The filing also updates the Caret program. As of September 30, 2025, officers and employees beneficially owned approximately 14.4% of outstanding Caret units and 11.4% of authorized units; 128,971 Caret units remain available for awards. Certain 2023 merger‑related grants cliff‑vest on March 31, 2027 if SAFE’s stock averages $60.00 for 30 consecutive trading days. The company owned 84.3% of outstanding Caret units, and 122,500 units were sold to third‑party investors.
Safehold Inc. furnished an earnings release and an earnings presentation for the quarter ended September 30, 2025. The materials are attached as Exhibit 99.1 (Earnings Release) and Exhibit 99.2 (Earnings Presentation) and were also made available on the company’s website.
The materials are being furnished, not deemed “filed,” under Items 2.02 and 7.01, and therefore are not subject to Section 18 liabilities. They are not incorporated into other filings unless specifically referenced.
Safehold Inc. (SAFE) reported a director transaction on a Form 4. Director Barry Ridings acquired 32 Common Stock Equivalents on 10/15/2025 under the Non‑Employee Directors' Deferral Plan, which credits additional CSEs when dividends are paid. Each CSE converts one‑for‑one into common stock.
After this entry, beneficial ownership was reported as 52,851 shares direct, plus indirect holdings by trusts of 4,665, 1,775, and 1,775 shares.
Safehold Inc. (SAFE) director Form 4: On 10/15/2025, Director Robin Josephs was credited with 346 Common Stock Equivalents (CSEs) under the Non‑Employee Directors' Deferral Plan. These CSEs arise as dividends are paid and convert one‑for‑one into shares of Safehold common stock.
Following the transaction, beneficial ownership was 88,734 shares direct, 3,107 shares indirect via an IRA, and 64,696 shares indirect via a family trust.
Safehold Inc. (NYSE: SAFE) filed an Item 8.01 Form 8-K to disclose its latest independent valuation of the residual rights embedded in its ground-lease portfolio. As of 30 Jun 2025, CBRE’s rolling appraisals and management estimates place Combined Property Value at $15.577 billion versus aggregate Ground Lease cost of $6.521 billion, implying $9.056 billion of unrealized capital appreciation (UCA). The figure covers SAFE’s pro-rata interests in consolidated and JV leases and includes $291 million of yet-to-fund transactions.
The valuation process follows SAFE’s policy of engaging CBRE for initial and 12-24-month update reports that assume ownership of land and improvements as a single fee-simple estate, excluding the ground lease structure. Key assumption ranges include hotel cap rates of 5.25%-8.75% and multifamily cap rates of 4.25%-6.50%. SAFE reiterates that UCA is non-GAAP, unaudited and highly assumption-dependent; market realization is constrained by long lease terms, tenant options, buy-out clauses and pre-emptive rights. Rolling valuations may therefore diverge from current market conditions, especially for office assets.
Separately, the company updated investors on its Caret incentive units: officers and employees hold 14.4% of outstanding Caret units, while SAFE retains 84.3% overall; 128,871 units remain available for future grants. No immediate financial statements or earnings guidance were provided.