Search
 
News

Safehold Boosts Its Market Share with Midtown Office Ground Lease

Safehold Inc. is upping its market share in the New York City arena. The firm has just closed a $235 million ground lease at 135 West 50th St. Another transaction to add to its books before year-end.

NEW YORK CITY – Safehold Inc., a real estate investment trust specializing in ground leases, is upping its market share in the New York City arena. The firm has just closed a $235 million ground lease at 135 West 50th St.

Business has been well for the REIT who has seen a steady flow of demand from institutional investors aiming to effectively manage a ground lease on the land beneath their buildings, according to Marcos Alvarado, president and CEO at the firm.

“Institutional owners of commercial real estate are increasingly understanding the benefits delivered by a Safehold™ ground lease,” said Alvarado in a prepared statement. “We are excited to add another high-quality asset to our rapidly-scaling portfolio.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Mariah Brown

Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.

More from this author

Dig Deeper

Recommended Stories

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.