Safehold Closes $31.0 Million Ground Lease, Sixth Transaction in Denver, Colorado
NEW YORK, Nov. 7, 2022 /PRNewswire/ — Safehold, Inc. (NYSE: SAFE), the creator and leader of the modern ground lease industry, has closed on a $31.0 million ground lease to facilitate the ground-up development of Wilder, a 196-unit multifamily project approximately two miles west of Downtown Denver. The Qualified Opportunity Zone project will be developed by The Max Collaborative, an Ohio based firm led by members of the Max Ratner family.
“We are excited to grow our presence in Denver and expand our relationship with a top tier sponsor in The Max Collaborative,” said Executive Vice President Steve Wylder. “We are finding that our ground lease structure works quite well for opportunity zone projects and are pleased to be part of such a high-quality development as we continue to scale our Safehold platform across the country.”
The transaction marks the third between Safehold and The Max Collaborative over the last 12 months, all ground-up multifamily developments. Through September 30th, Safehold originated in excess of $1.3 billion of ground lease investments year to date.