---
schema_version: "secwatch.filing_event.v1"
accession: "0001095651-24-000026"
form_type: "8-K"
ticker: "SAFE"
cik: "0001095651"
company_name: "Safehold Inc."
filed_at: "2024-10-28T23:59:59+00:00"
generated_at: "2026-05-30T09:36:00.835821+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Safehold reports estimated unrealized capital appreciation of $9.14B in owned residual portfolio as of Sep 30, 2024

## Summary
- 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.

## SEC filing metadata
- accession: 0001095651-24-000026
- form_type: 8-K
- ticker: SAFE
- cik: 0001095651
- company_name: Safehold Inc.
- filed_at: 2024-10-28T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1095651/000109565124000026/0001095651-24-000026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1095651/000109565124000026/safe-20241028x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001095651-24-000026
- JSON: https://secwatch.observer/filing/0001095651-24-000026.json
- Plain text: https://secwatch.observer/filing/0001095651-24-000026.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.