iStar Announces Jeremy Fox-Geen Stepping Down as Chief Financial Officer

Rhea-AI Summary

iStar Inc. (NYSE: STAR) announced that its Chief Financial Officer, Jeremy Fox-Geen, will be leaving to pursue a role in the cryptocurrency infrastructure sector. CEO Jay Sugarman expressed gratitude for Fox-Geen's contributions and stated that iStar will not seek a replacement in the near term, relying on existing capital markets and investor relations teams. iStar focuses on reinventing the ground lease sector, aiming to unlock value in $7 trillion commercial real estate through modern leases, having completed over $40 billion in transactions over two decades.

Positive

• Strong capital markets and investor relations team in place.
• No immediate replacement needed for the CFO position.
• Innovative approach to the ground lease sector.
• Over $40 billion in transactions completed, showcasing strong execution.

Negative

• Departure of CFO may cause uncertainty among investors.

NEW YORK, May 7, 2021 /PRNewswire/ -- iStar Inc. (NYSE: STAR) announced today that Chief Financial Officer Jeremy Fox-Geen will be leaving iStar this month to join a company in the cryptocurrency infrastructure space.

Jay Sugarman, Chief Executive Officer, commented, "We thank Jeremy for his contributions at iStar, and wish him well in his next endeavor. Given our strong capital markets and investor relations teams, as well as our deep accounting and tax teams, we will not seek a replacement in the near term, while we continue to execute upon our strategy of scaling the ground lease ecosystem and ensuring the full value of our portfolio is recognized by investors."

Jeremy Fox-Geen said, "While excited for my new opportunity, I am saddened to leave such a high-quality institution. iStar and Safehold are great companies, with strong leadership and a terrific team. I look forward to watching their continued success."

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iStar Inc. (NYSE: STAR) is focused on reinventing the ground lease sector, unlocking value for real estate owners throughout the country by providing modern, more efficient ground leases on institutional quality properties. As the founder, investment manager and largest shareholder of Safehold Inc. (NYSE: SAFE), the creator of the modern ground lease industry, iStar is using its national investment platform and its historic strengths in finance and net lease to expand the use of modern ground leases within the $7 trillion institutional commercial real estate market. Recognized as a consistent innovator in the real estate markets, iStar specializes in identifying and scaling newly discovered opportunities and has completed more than $40 billion of transactions over the past two decades. Additional information on iStar is available on its website at www.istar.com.

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SOURCE iStar Inc.

FAQ

Who is the new CFO of iStar Inc.?

iStar Inc. has not announced a new CFO following Jeremy Fox-Geen's departure.

What is the reason for Jeremy Fox-Geen's departure from iStar?

Jeremy Fox-Geen is leaving iStar to join a company in the cryptocurrency infrastructure space.

What is iStar's focus in the real estate market?

iStar focuses on reinventing the ground lease sector to unlock value for real estate owners.

How much has iStar completed in transactions over the past two decades?

iStar has completed over $40 billion in transactions over the past two decades.

What is the market size that iStar is targeting with its services?

iStar is targeting the $7 trillion institutional commercial real estate market.