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Jay Sugarman

NEW YORK CITY–Safety, Income & Growth (SAFE) is carving out a niche for itself in the commercial real estate community with its focus on ground leases. A ground lease, of course generally represents ownership of the underlying land. The land is typically net leased on a long-term basis by the landlord to a tenant who owns and operates the property. During a typical ground lease contract, a landlord collects ground rent payments, including contractual escalations and/or percentage rent payments during the lease term. Once the lease has expired or the tenant defaults, the landlord continues to own the land. Ground leases are often extended throughout the lease term.

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