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NEW YORK, Oct. 27, 2025 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE), the creator and leader of the modern ground lease industry, has closed on a ground lease for the development of an Affordable Housing community in the San Fernando Valley area of Los Angeles, California. The Low Income Tax Credit development will provide 275 total units upon delivery in 2029. The project will be developed by The Pacific Companies, a prolific developer of Affordable Housing throughout the Western United States and a repeat Safehold customer.

"We're excited to expand our relationship with The Pacific Companies with this high-quality asset, in a market with significant unmet demand for Affordable rental product," said Steve Wylder, Safehold's Head of Investments. "We are quickly growing our presence in the Affordable Housing space, where we are very encouraged by the demand for our ground lease capital and the growth in our forward pipeline."

Safehold established a dedicated Affordable Housing team in 2025, with the goal of expanding its investment into the sector.

"Our ground lease capital functions as a low-cost 'gap filler' in these developments, at a time when elevated costs and interest rates are posing significant challenges," Wylder added.

Additional information on Safehold's Affordable Housing platform is available at www.safeholdaffordablehousing.com.

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, affordable housing, 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.

 

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SOURCE Safehold