Safehold Inc. Announces $225 Million Private Placement of Senior Notes

On June 15, 2026, Safehold Inc. and its operating company, Safehold GL Holdings LLC, entered into a note purchase agreement for the private placement of $225 million in aggregate principal amount of 6.615% Senior Notes due August 1, 2056. The Notes feature a stairstep coupon rate, starting at 4.00% and increasing to 6.615% over 21 years, with the difference between the stated rate and cash interest accruing and potentially being paid-in-kind. The company may prepay the notes with a Make-Whole Amount. The agreement includes restrictive covenants related to unencumbered assets and secured debt, and may incorporate additional covenants from existing credit facilities. Events of default, including missed payments on the Notes or other indebtedness, can trigger acceleration of the Notes' maturity. The Company fully guarantees the Operating Company's obligations. Net proceeds will be used for general corporate purposes, including repaying borrowings, making investments, and working capital. The Notes were offered and sold privately under Section 4(a)(2) of the Securities Act. Safehold Inc. also announced this transaction via a press release on June 15, 2026.