Safehold forms JV with Brookfield affiliate on $348M ground lease portfolio

Safehold Inc.

Safehold contributes ground lease portfolio generating $14M annual cash ground rent to JV with Brookfield affiliate.
Brookfield purchases non-controlling 49% interest at $348M gross valuation; Safehold retains call options after year 7.
Safehold maintains day-to-day control and management; venture will be consolidated on Safehold's financials.
Net proceeds from Brookfield's capital will be used for debt repayment and general corporate purposes.

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