Safehold enters into JV with sovereign wealth fund

Safehold has entered into a joint venture arrangement with a sovereign wealth fund focused on new acquisitions for certain ground lease investments. Safehold committed approximately $275 million for a 55 percent interest in the joint venture, and a sovereign wealth fund committed approximately $225 million for a 45 percent interest in the joint venture.

“As we navigate the rapidly changing market environment and volatile capital markets, this partnership provides Safehold with accretive capital to help serve our customers,” said Marcos Alvarado, president and CIO at Safehold.

Safehold, which is taxed as a REIT, seeks to deliver safe, growing income and long-term capital appreciation to its shareholders. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk.