Safehold is merging with its largest shareholder, iStar, in a $1.6B deal that will make the combined entity the only publicly traded, self-managed pure-play ground lease company. 

The merger, which is expected to close by Q1 2023 latest, will see Safehold assume iStar’s $100M in trust preferred securities—considered debt, due in 2035—and Safehold will issue 1.2M new SAFE shares to iStar.


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