Ground Net Lease Company: Safehold Inc. (SAFE) (2016)

Safehold Inc. (NYSE: SAFE) was founded in 2016, formerly known as Safety, Income and Growth, Inc., headquartered in New York City, New York, USA. It claims to be the first publicly listed company Acquisition, management and capital operation of ground net leases (Ground Net Leases, GNLs) as the main business company, the company through the use of a diversified portfolio of high-quality GNLs to provide shareholders with security, income growth and capital appreciation. Safehold Inc. operates as a subsidiary of iStar Inc. (STAR) .


Safehold Inc. (SAFE):

Safehold Inc. completely changes the ownership of real estate by providing owners with a new and better way to unlock home ownership. Through its modern ground lease capital solutions, Safehold helps owners of high-quality multi-family, office, industrial, hotel and mixed-use properties in major markets across the United States to obtain higher returns with lower risks.

Safehold is taxed as a real estate investment trust (REIT), managed by its largest shareholder iStar Inc. , and aims to provide its shareholders with safe, growing income and long-term capital appreciation. Safehold Inc. is a subsidiary of iStar Inc.

On and before April 14, 2017, Safehold obtained multiple assets from iStar through a series of transactions as the company’s initial asset portfolio. Safehold conducted a $227 million “initial portfolio financing”, a loan secured by the company’s original 12 property portfolio.

Two institutional investors, GICRE and LA, the company calls “continuing investors”, acquired 2,875,000 shares of Safehold’s common stock, holding a 51% stake in Safehold. At the same time as the company’s IPO, iStar purchased 2,250,000 Safehold’s common shares for US$20 per share (initial public offering price) for a total purchase price of US$45 million.

After the IPO, iStar will own approximately 27.6% of Safehold’s issued common stock, and “continuing investors” will hold approximately 15.8% of Safehold’s issued common stock.

Safehold Inc. (SAFE) investment:

Safety, Income and Growth, Inc. (NYSE: SAFE) landed on the NYSE on 6/22/2017 IPO, with an issue price of US$20, 10.25 million shares issued, and US$205 million raised, stock code: SAFE.

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Bank holding company: HopFed Bancorp, Inc. (HFBC) (1879)

Asset management holding company: SEI Investments Co. (SEIC) (1968)