---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-006845"
form_type: "8-K"
ticker: "SAFE"
cik: "0001095651"
company_name: "Safehold Inc."
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T11:40:35.227559+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Safehold reports estimated $10.0B unrealized capital appreciation in owned residual portfolio as of Mar 31, 2023

## Summary
- Estimated UCA of $10,026M (Combined Property Value $16,034M less Ground Lease Cost $6,008M).
- Combined Property Value includes $1,375.4M related to unfunded commitments; CBRE engaged for independent valuations.
- On Mar 31, 2023, sold 100,000 Caret units to MSD affiliates for $20M and 22,500 units to others for $4.5M.
- Post-merger, 76,801 Caret units awarded to executives with cliff vesting at $60 stock price for 30 consecutive days.
- Portfolio valuation updated annually; key assumptions include cap rates of 4%–8.5% across property types.

## SEC filing metadata
- accession: 0001558370-23-006845
- form_type: 8-K
- ticker: SAFE
- cik: 0001095651
- company_name: Safehold Inc.
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1095651/000155837023006845/0001558370-23-006845-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1095651/000155837023006845/safe-20230426x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-006845
- JSON: https://secwatch.observer/filing/0001558370-23-006845.json
- Plain text: https://secwatch.observer/filing/0001558370-23-006845.txt

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