other material
confidence high
sentiment neutral
materiality 0.55
Safehold reports estimated unrealized capital appreciation of $9.14B in owned residual portfolio as of Sep 30, 2024
Safehold Inc.
- Estimated UCA of $9,141M; Combined Property Value $15.5B vs. Ground Lease Cost $6.4B as of Sep 30, 2024.
- CBRE appraisals used; valuation assumptions include cap rates (hotel 5.5%-8.75%, office 5%-10%, multifamily 4%-6.5%).
- Tenant rights (buy-out options, preemptive rights, lease termination) may limit realizable UCA from certain properties.
- Caret units: 76,801 awarded to executives/employees; vest if stock trades at avg ≥$60 for 30 days within 4 years.
- Safehold owns 84.3% of outstanding Caret units; 259,642 units sold to third parties including MSD Partners.