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iStar Inc., traded under the symbol STAR, has established itself as a pioneer in the real estate market by focusing on modern ground leases. This approach unlocks value for property owners across the United States. As the founder, investment manager, and largest shareholder of Safehold Inc. (NYSE: SAFE), iStar has created the first publicly traded company dedicated to modern ground leases, revolutionizing the way real estate is owned.
iStar specializes in identifying and scaling innovative opportunities within the real estate sector. Over the past two decades, the company has completed transactions exceeding $40 billion, showcasing its strength in finance and net leasing. iStar's expertise has allowed it to help property owners of various types, including multifamily, office, industrial, hospitality, student housing, life science, and mixed-use properties, to increase their returns while minimizing risks.
In a significant development, on March 31, 2023, iStar completed a merger with Safehold Inc., with iStar being the survivor for tax purposes. Following the merger, iStar was renamed Safehold Inc. This merger underscores the company's commitment to expanding its innovative platform and delivering long-term capital appreciation and secure, growing income for its shareholders.
Safehold Inc., now operating under the NYSE ticker SAFE, continues its mission to provide property owners with modern, efficient ground leases, helping them unlock the value of the land beneath their buildings. The Company is structured as a real estate investment trust (REIT), further enhancing its financial stability and growth potential. This strategic approach allows Safehold to offer secure investment opportunities and consistent returns to its stakeholders.
- Modern ground leases.
- Over $40 billion in transactions.
- Merger with Safehold Inc.
- Real Estate Investment Trust (REIT).
With its innovative and consistent approach, iStar, now Safehold Inc., remains a significant player in the real estate market, continually transforming how property ownership and ground leases are managed and optimized.
iStar Inc. (NYSE: STAR) announced its Q3 2022 results, reporting a net income of $12.1 million or $0.14 per diluted share. Adjusted earnings were $28.5 million or $0.33 per diluted share. The company extinguished $155 million of debt, including $93 million in convertible notes, and generated $105 million from asset sales and loan repayments. Safehold contributed $284 million in new originations, raising its total portfolio to $6.1 billion.
iStar aims to enhance its balance sheet and expand the ground lease market.
iStar Inc. (NYSE: STAR) will announce its third quarter 2022 financial results on November 3, 2022, before market opening. The company will host a conference call at 10:00 a.m. ET to discuss these results, accessible via their website. The company focuses on modernizing ground leases, aiming to add value for real estate owners in the $7 trillion commercial real estate market. iStar has completed over $40 billion in transactions in two decades and is a significant shareholder of Safehold Inc. (NYSE: SAFE).
iStar Inc. (NYSE: STAR) has declared quarterly dividends for Q3 2022, payable on September 15, 2022. The dividends include $0.125 per share for common stock and varying amounts for three series of preferred stock:
- 8.00% Series D: $0.50
- 7.65% Series G: $0.478125
- 7.50% Series I: $0.46875
Record date for dividends is September 1, 2022. iStar focuses on transforming the ground lease sector and has completed over $40 billion in transactions.
Safehold and iStar have announced a strategic agreement for a tax-free business combination aimed at enhancing Safehold's leadership in the ground lease industry. The deal includes the internalization of management, allowing Safehold to transition to an internally-managed structure, and involves assuming $100 million in iStar's trust preferred securities. New Safehold will retain existing ownership proportions, with Safehold shareholders owning approximately 34% post-transaction. iStar will spin off non-ground lease assets into a new entity, SpinCo, while MSD Partners will invest $200 million in SAFE shares and $20 million in Caret units.
iStar Inc. (NYSE: STAR) reported a net loss of $138.5 million for Q2 2022, equating to $1.70 per diluted share. Adjusted earnings also fell to a loss of $34.2 million or $0.42 per diluted share. The company exchanged $194 million in convertible notes for approximately 13.75 million shares and $14 million in cash, resulting in a $298 million increase in book equity. Additionally, Safehold closed $381 million in new originations, increasing its total portfolio to $5.9 billion. iStar aims to enhance shareholder value through strategic initiatives.
iStar Inc. (NYSE: STAR) announced it will release its second-quarter 2022 financial results on August 4, 2022, before market opening. The company will host a live earnings call at 10:00 a.m. ET, accessible via its website. iStar is focused on transforming the ground lease sector and unlocking value for real estate owners, managing a national investment platform that has completed over $40 billion in transactions in the last two decades. The company aims to expand the use of modern ground leases within the $7 trillion commercial real estate market.
iStar Inc. (NYSE: STAR) revised the conversion rate for its 3.125% Convertible Senior Notes due 2022, following the announcement of cash dividends on June 15, 2022. The new conversion price is $13.73 per share, effective May 31, 2022, allowing 72.8554 shares of common stock per $1,000 principal amount. This adjustment will be communicated to note holders and the trustee. iStar focuses on modernizing ground leases and holds a significant stake in Safehold Inc. (NYSE: SAFE), aiming to innovate within the $7 trillion commercial real estate market.
iStar Inc. (NYSE: STAR) announced a quarterly dividend of $0.125 per share on its Common Stock, payable on June 15, 2022 to holders of record by June 1, 2022. Additionally, dividends on its Preferred Stock were declared, including $0.50 for the 8.00% Series D, $0.478125 for the 7.65% Series G, and $0.46875 for the 7.50% Series I, all payable on the same date. iStar focuses on modernizing ground leases and has conducted over $40 billion in transactions in the last two decades, underpinning its strategy in the $7 trillion commercial real estate market.
iStar Inc. (NYSE: STAR) announced a rating upgrade from Moody's Investors Services, with its corporate family and senior unsecured ratings increasing to Ba2 from Ba3. The preferred stock rating was upgraded to B1, and the Speculative Grade Liquidity Rating has been withdrawn. The outlook remains stable. iStar focuses on modernizing the ground lease sector, enhancing value for real estate owners. Over the last two decades, iStar has completed more than $40 billion in transactions and aims to expand the use of modern ground leases within the $7 trillion commercial real estate market.
iStar Inc. (NYSE: STAR) reported impressive first-quarter results for 2022, showing a net income of $610.9 million or $8.85 per diluted share. Adjusted earnings reached $607.5 million, translating to $7.79 per diluted share. The company successfully closed the sale of a net lease portfolio for $3.07 billion, positively impacting equity by approximately $585 million. Additionally, Safehold achieved $677 million in new originations, boosting its portfolio to $5.5 billion. iStar also reduced consolidated secured debt by $1.2 billion.
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