NEW YORK–Safehold Inc. has agreed to purchase the existingground lease for the Alohilani Resort in Waikiki Beach for $195million. The transaction is Safehold's first investment inHawaii.
The company has additionally entered a 55/45 joint ventureagreement with a sovereign wealth fund, to acquire the ground leasefor 425 Park Avenue in New York. Following the acquisition,Safehold's 55% investment interest will total $340 million.
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