Safehold Closes Fifth Ground Lease Transaction in Nashville, Tennessee
Safehold (NYSE: SAFE) has successfully closed a ground lease for Park Central, a 200-unit Class A multifamily property in Nashville, TN, marking its fifth transaction in the city. This is part of a broader strategy, with the closing representing Safehold's 130th transaction and contributing to a national ground lease portfolio exceeding $6 billion. The company continues to foster relationships with partners like The Dinerstein Companies to enhance its presence in key growth markets.
- Expanded portfolio with the acquisition of Park Central in Nashville.
- Fifth transaction in Nashville, showing growth and commitment to the market.
- Total portfolio now exceeds $6 billion, indicating strong market position.
- None.
NEW YORK, Nov. 29, 2022 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE), the creator and leader of the modern ground lease industry, has closed on a ground lease to facilitate the acquisition of Park Central, a 2013-vintage, 200-unit Class A multifamily property in Nashville, TN. The deal was Safehold's fifth in Nashville and third with The Dinerstein Companies as sponsor.
"We are thrilled to expand our relationship with Dinerstein," said Head of Investments Tim Doherty. "It's exciting to see the growth of Safehold's program in Nashville and other top U.S. growth markets as building owners continue to leverage the efficiencies of our structure to execute their business plans."
The closing marks Safehold's 130th transaction as part of a national ground lease portfolio exceeding
About Safehold:
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, life science 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.
Client Contact: | Investor Relations Contact: | |
Tim Doherty | Jason Fooks | |
Head of Investments | Senior Vice President | |
T: 212.930.9433 | Investor Relations & Marketing | |
T: 212.930.9400 | ||
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SOURCE Safehold
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