Safehold Signs Agreement for $195 Million Ground Lease
Safehold Inc. (NYSE: SAFE) announced that it has entered into a definitive purchase agreement to acquire the existing ground lease under the Alohilani Resort in Waikiki Beach for $195 million, representing its first investment in Hawaii.
- Safehold Inc. (NYSE: SAFE) announced that it has entered into a definitive purchase agreement to acquire the existing ground lease under the Alohilani Resort in Waikiki Beach for $195 million, representing its first investment in Hawaii.
- Separately, the Company has also finalized a 55/45 joint venture agreement with a sovereign wealth fund in anticipation of its previously announced 425 Park Avenue ground lease acquisition in New York.
- Upon closing, Safeholds 55% investment interest will total approximately $340 million.
- Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.