Safehold Closes Ground Lease for Sacramento Affordable Housing Development
Safehold Inc. (NYSE: SAFE) has closed a ground lease for the development of The Crawford, a 265-unit affordable housing community in Roseville, Sacramento, California. The project will be developed by USA Properties Fund, a repeat Safehold customer based in Sacramento.
The development is structured as a low-income tax credit project. During 2024, Safehold completed six affordable housing transactions in California. The company is increasingly focusing on the affordable housing sector, utilizing its ground lease structure to help developers reduce capital costs and advance affordable housing projects.
Safehold, established in 2017, operates as a REIT and specializes in creating modern ground lease solutions for various property types, including multifamily, office, industrial, hospitality, student housing, life science, and mixed-use properties.
Safehold Inc. (NYSE: SAFE) ha chiuso un contratto di locazione del terreno per lo sviluppo di The Crawford, una comunità di alloggi accessibili di 265 unità a Roseville, Sacramento, California. Il progetto sarà sviluppato da USA Properties Fund, un cliente abituale di Safehold con sede a Sacramento.
Lo sviluppo è strutturato come un progetto di credito d'imposta per persone a basso reddito. Durante il 2024, Safehold ha completato sei transazioni di alloggi accessibili in California. L'azienda si sta concentrando sempre di più nel settore degli alloggi accessibili, utilizzando la sua struttura di locazione del terreno per aiutare i sviluppatori a ridurre i costi di capitale e promuovere progetti di alloggi accessibili.
Safehold, fondata nel 2017, opera come REIT e si specializza nella creazione di soluzioni moderne di locazione del terreno per vari tipi di proprietà, inclusi gli edifici multifamiliari, gli uffici, l'industria, l'ospitalità, gli alloggi per studenti, la scienza della vita e le proprietà a uso misto.
Safehold Inc. (NYSE: SAFE) ha cerrado un contrato de arrendamiento de terreno para el desarrollo de The Crawford, una comunidad de vivienda asequible de 265 unidades en Roseville, Sacramento, California. El proyecto será desarrollado por USA Properties Fund, un cliente habitual de Safehold con sede en Sacramento.
El desarrollo está estructurado como un proyecto de crédito fiscal para ingresos bajos. Durante 2024, Safehold completó seis transacciones de vivienda asequible en California. La empresa se está enfocando cada vez más en el sector de la vivienda asequible, utilizando su estructura de arrendamiento de terreno para ayudar a los desarrolladores a reducir costos de capital y avanzar en proyectos de vivienda asequible.
Safehold, establecida en 2017, opera como un REIT y se especializa en crear soluciones modernas de arrendamiento de terreno para varios tipos de propiedades, incluidas multifamiliares, oficinas, industriales, de hospitalidad, viviendas estudiantiles, ciencia de la vida y propiedades de uso mixto.
Safehold Inc. (NYSE: SAFE)는 캘리포니아 로즈빌, 새크라멘토에 위치한 265가구의 저소득층 주택 커뮤니티인 The Crawford 개발을 위한 토지 임대 계약을 체결했습니다. 이 프로젝트는 새크라멘토에 본사를 둔 Safehold의 단골 고객인 USA Properties Fund에 의해 개발될 것입니다.
이 개발은 저소득세 신용 프로젝트로 구조화되었습니다. Safehold는 2024년 동안 캘리포니아에서 6건의 저소득 주택 거래를 완료했습니다. 이 회사는 저렴한 주택 부문에 점점 더 집중하고 있으며, 토지 임대 구조를 활용하여 개발자들이 자본 비용을 줄이고 저소득 주택 프로젝트를 추진하도록 돕고 있습니다.
2017년에 설립된 Safehold는 REIT로 운영되며 여러 유형의 부동산, 즉 다가구 주택, 사무실, 산업, 환대, 학생 주택, 생명 과학 및 복합 용도 부동산을 위한 현대적인 토지 임대 솔루션을 만드는 데 전문화되어 있습니다.
Safehold Inc. (NYSE: SAFE) a signé un bail à construction pour le développement de The Crawford, une communauté de logement abordable de 265 unités à Roseville, Sacramento, Californie. Le projet sera développé par USA Properties Fund, un client régulier de Safehold basé à Sacramento.
Le développement est structuré comme un projet de crédit d'impôt pour les personnes à faible revenu. En 2024, Safehold a finalisé six transactions de logement abordable en Californie. L'entreprise se concentre de plus en plus sur le secteur du logement abordable, en utilisant sa structure de bail à construction pour aider les développeurs à réduire les coûts de capital et à faire avancer les projets de logements abordables.
Safehold, fondée en 2017, opère en tant que REIT et se spécialise dans la création de solutions modernes de bail à construction pour différents types de propriétés, y compris les logements multifamiliaux, les bureaux, l'industrie, l'hôtellerie, le logement étudiant, la science de la vie et les propriétés à usage mixte.
Safehold Inc. (NYSE: SAFE) hat einen Erbpachtvertrag für die Entwicklung von The Crawford, einer 265-Einheiten umfassenden erschwinglichen Wohnanlage in Roseville, Sacramento, Kalifornien, abgeschlossen. Das Projekt wird von USA Properties Fund, einem wiederkehrenden Safehold-Kunden mit Sitz in Sacramento, entwickelt.
Die Entwicklung wird als Projekt für Steuergutschriften für einkommensschwache Haushalte strukturiert. Im Jahr 2024 hat Safehold sechs Transaktionen für erschwinglichen Wohnraum in Kalifornien abgeschlossen. Das Unternehmen konzentriert sich zunehmend auf den Bereich des erschwinglichen Wohnens und nutzt seine Erbpachtstruktur, um Entwicklern zu helfen, die Kapitalkosten zu senken und Projekte für erschwinglichen Wohnraum voranzutreiben.
Safehold, 2017 gegründet, operiert als REIT und hat sich auf die Schaffung moderner Erbpachtlösungen für verschiedene Immobilientypen spezialisiert, einschließlich Mehrfamilienhäusern, Büros, Industrie, Gastgewerbe, Studentenwohnheimen, Lebenswissenschaften und gemischt genutzten Immobilien.
- Expansion in affordable housing sector with six California transactions in 2024
- Strategic partnership with established developer (USA Properties Fund)
- Entry into high-growth market (Roseville) with strong demographics
- Diversification of portfolio with 265-unit development project
- None.
Insights
This ground lease transaction for The Crawford development represents a strategic expansion in Safehold's affordable housing portfolio. The deal's significance stems from multiple factors: 265 units in the growing Roseville market, partnership with an experienced developer (USA Properties Fund) and alignment with California's critical need for affordable housing solutions.
The transaction's structure leverages Safehold's innovative ground lease model, which effectively separates land ownership from building ownership. This approach typically allows developers to reduce their upfront capital requirements by 30-40
Notably, this marks Safehold's sixth affordable housing transaction in California for 2024, indicating strong execution of their sector-specific strategy. The Roseville market's robust demographics and housing demand fundamentals support the long-term viability of this investment. The deal reinforces SAFE's competitive advantage in the specialized ground lease REIT sector while addressing social infrastructure needs.
The Crawford transaction exemplifies Safehold's evolving business strategy in the affordable housing segment. Ground lease structures are particularly valuable in this sector as they help developers overcome capital constraints while maintaining project viability. The repeat business with USA Properties Fund validates the effectiveness of SAFE's model and suggests potential for additional pipeline opportunities.
From a market positioning perspective, Safehold's focus on affordable housing developments represents a defensive play - these projects typically maintain high occupancy rates through economic cycles due to persistent supply-demand imbalances. The Sacramento region's fundamentals, characterized by population growth and housing shortages, provide strong tailwinds for this investment.
For shareholders, this transaction type offers an attractive risk-adjusted return profile: government-supported cash flows through low-income housing tax credits, combined with the inherent security of land ownership. The expansion in California, a key growth market, demonstrates SAFE's ability to scale its innovative financing solutions while maintaining strategic market selection.
"We're thrilled to expand our relationship with
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Safehold closed a total of six affordable housing transactions in
"We are increasingly focused on the affordable sector and are positioning our capital as a tool to help developers bridge capital structure gaps, lower their cost of capital, and move much needed affordable housing projects forward," said Wylder.
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, student housing, life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT), 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.
Transaction Contacts: | Investment Team and IR Contacts: |
Steve Wylder EVP, Head of Investments
Ethan Torbati Vice President, Investments | Tim Doherty Chief Investment Officer
Pearse Hoffmann Senior Vice President Capital Markets & Investor Relations |
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SOURCE Safehold
FAQ
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