NEW YORK, Dec. 15, 2021
NEW YORK, Dec. 15, 2021 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE), the creator and leader of the modern ground lease industry, announced today that it has upsized its $1.0 billion unsecured revolving credit facility by $350 million with no other changes to the existing terms.
"With its increased size, the enhanced credit facility allows Safehold to flexibly and quickly deliver efficient capital to our customers," said Jay Sugarman, Chairman and Chief Executive Officer. "As we recently announced, we have been scaling the business at a strong pace and by increasing our dry powder we position ourselves to finish the year strong and set ourselves up for an exciting 2022 and beyond."
JPMorgan Chase Bank, N.A. is the administrative agent for the revolving facility with JPMorgan Chase Bank, N.A., BofA Securities, Inc. and Goldman Sachs Bank USA, acting as the joint bookrunners and joint lead arrangers; Barclays Bank PLC, Truist Securities, Inc., Mizuho Bank, Ltd. and Morgan Stanley Senior Funding, Inc. are also acting joint lead arrangers. Capital One, N.A., Raymond James Bank and Sumitomo Mitsui Banking Corporation will also act as lenders under this new revolving facility.
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, office, industrial, hospitality and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT) and is managed by its largest shareholder, iStar Inc., 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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Investor Relations & Marketing
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SOURCE Safehold Inc.
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Founded: 2016 (7 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Diversified, Specialty
Externally Managed REIT
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