UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On January 16, 2024, Marcos Alvarado, the President, Chief Investment Officer and a Director of Safehold Inc. (the “Company”) informed the Company of his decision to resign from his positions, effective January 26, 2024 to pursue another professional opportunity at a private investment firm.
Mr. Alvarado’s departure is not related to the Company’s financial or operating results or to any disagreements with the Company regarding the Company’s financial, operational, accounting, or reporting policies or practices.
| Item 7.01. | Regulation FD Disclosure. |
On January 16, 2024, the Company issued a press release relating to Mr. Alvarado’s resignation and announced updates to its executive management team. A copy of such press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information furnished pursuant to this Item 7.01, including the attached exhibit, shall not be deemed “filed” for purposes of the Exchange Act, or otherwise subject to the liabilities of such section, nor shall such information or exhibit be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing by the Company with the SEC.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit No. | Description | |
| Exhibit 99.1 | Press Release | |
| Exhibit 104 | Cover Page Interactive File (the cover page tags are embedded with the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Safehold Inc. | |||
| Date: | January 16, 2024 | By: | /s/ Jay Sugarman |
| Jay Sugarman | |||
| Chief Executive Officer |
Exhibit 99.1
Press Release
Safehold Announces Leadership Changes
Tim Doherty Appointed Chief Investment Officer; Steve Wylder Named EVP, Head of Investments
Marcos Alvarado to Depart to Pursue Another Professional Opportunity
NEW YORK, January 16, 2024
Safehold Inc. (NYSE: SAFE) today announced updates to its executive management team.
Tim Doherty, EVP, Head of Investments, has been appointed Chief Investment Officer, and Steve Wylder, EVP, Investments, has been appointed EVP, Head of Investments, effective January 26, 2024. The Company’s current President & Chief Investment Officer, Marcos Alvarado, will step down from the Company to pursue a professional opportunity at a private investment firm. Mr. Alvarado will remain with Safehold through January 26, 2024 to ensure a smooth transition of his responsibilities.
“These appointments demonstrate the deep bench of talent we have developed at Safehold,” said Jay Sugarman, Chairman and Chief Executive Officer. “Tim and Steve are both longtime veterans of the business and have played instrumental roles in transforming Safehold from the creation of the business into the leading ground lease REIT it is today, with a portfolio of high-quality assets across the country. I look forward to working closely with them and our senior leadership as we continue to revolutionize real estate ownership and position Safehold for sustainable, long-term value creation.”
Mr. Sugarman continued, “On behalf of the Board and executive management team, we thank Marcos for his many contributions over his tenure. He has been a strong partner and leader at Safehold, and we wish him the very best in his next professional endeavor.”
“I am incredibly proud of all we have achieved and I am confident in Safehold’s continued success for years to come,” said Mr. Alvarado.
In his new role, Mr. Doherty will report directly to Mr. Sugarman and Mr. Wylder will continue to report directly to Mr. Doherty.
In connection with his departure from the Company, Mr. Alvarado will also step down from his position as a member of the Company’s Board of Directors.
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.
Company Contact:
Pearse Hoffmann
Senior Vice President
Capital Markets & Investor Relations
T 212.930.9400
E investors@safeholdinc.com