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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.
Safehold Inc. (NYSE: SAFE) has priced a public offering of 2,200,000 shares at $76.00 each, generating approximately $167.2 million in gross proceeds. The offering was upsized from 2,000,000 shares. A 30-day option for underwriters to purchase an additional 330,000 shares is included. Concurrently, the company is selling 657,894 shares to iStar Inc. (NYSE: STAR) for $50 million. In total, Safehold will raise $217.2 million for ground lease investments, credit facility repayments, and general corporate purposes. The offering closes on September 27, 2021.
iStar Inc. (NYSE: STAR) reported its second quarter results for the period ending June 30, 2021. The company faced a net loss of $19.5 million, equating to $0.27 per diluted share, while adjusted earnings stood at $12 million or $0.15 per diluted share. The unrealized gain on its Safehold investment grew by $289 million to $1.7 billion. Additionally, iStar received a credit rating upgrade from Fitch to BB and highlighted $34 million from legacy asset sales proceeds during the quarter, with a further $167 million closed after the quarter ended.
iStar Inc. (NYSE: STAR) is set to release its Q2 2021 financial results on August 3, 2021, before market opening. A conference call will follow at 10:00 a.m. ET for discussion on results and operations, accessible via the company’s website. Additionally, iStar focuses on enhancing the ground lease sector, leveraging its position as the main shareholder of Safehold Inc. (NYSE: SAFE). With over $40 billion in transactions over two decades, iStar aims to optimize opportunities in the $7 trillion commercial real estate market.
iStar Inc. (NYSE: STAR) has announced plans to explore market interest for potential sales of its net lease assets, engaging Eastdil Secured as an advisor. The company's net lease portfolio encompasses 19 million square feet of office, entertainment, and industrial properties nationwide. There is no guarantee on the sale of these assets or their terms. iStar aims to enhance the ground lease sector and has executed over $40 billion in transactions in the last 20 years, focusing on modernizing ground leases within the $7 trillion institutional commercial real estate market.
iStar Inc. (NYSE: STAR) announced a significant upgrade in its credit ratings by Fitch Ratings. The corporate credit rating rose from BB- to BB, while the senior secured debt rating improved from BB+ to BBB-, and the unsecured debt rating elevated from BB to BB+. The preferred stock rating also increased from B to B-, with a stable rating outlook. iStar focuses on transforming the ground lease sector, contributing to the $7 trillion institutional commercial real estate market, and has completed over $40 billion in transactions in 20 years.
iStar Inc. (NYSE: STAR) announced that CEO Jay Sugarman will present at the Nareit REITweek: 2021 Investor Conference on June 9, 2021, at 2:30 pm ET. The presentation will be broadcast live on Nareit's website.
iStar focuses on modernizing the ground lease sector, providing efficient solutions for real estate owners. As the founder and largest shareholder of Safehold Inc. (NYSE: SAFE), iStar is expanding modern ground leases in the $7 trillion commercial real estate market. The firm has completed over $40 billion in transactions in two decades, recognized for its innovation in real estate.
iStar Inc. (NYSE: STAR) has announced an adjustment to the conversion rate of its 3.125% Convertible Senior Notes due 2022, effective May 31, 2021. The new conversion price stands at $14.04 per share, allowing for 71.2325 shares of common stock per $1,000 principal amount of notes. This adjustment is in response to cash dividends payable on June 15, 2021. The company, a pioneer in the ground lease sector through its subsidiary Safehold Inc. (NYSE: SAFE), is focused on maximizing value in commercial real estate markets, having completed over $40 billion in transactions.
iStar Inc. (NYSE: STAR) declared a quarterly common dividend increase to $0.125 per share from $0.11, effective June 15, 2021, for holders of record on June 1. This aligns with their ongoing strategy to enhance shareholder value while focusing on expanding their ground lease platform. Additionally, dividends for Preferred Stock include $0.50 for Series D, $0.478125 for Series G, and $0.46875 for Series I. With over $40 billion in transactions, iStar aims to capitalize on the $7 trillion institutional commercial real estate market.
iStar Inc. (NYSE: STAR) will be represented by Jason Fooks, Senior Vice President of Investor Relations & Marketing, at the Goldman Sachs Credit & Leveraged Finance Conference on May 17, 2021, at 12:00 pm ET. The presentation will be available via live stream on iStar's website.
iStar focuses on reinventing the ground lease sector, providing innovative solutions for real estate owners and expanding the use of modern ground leases in the $7 trillion commercial real estate market. With over $40 billion in completed transactions in two decades, iStar continues to lead in real estate innovation.
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.
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