UNLOCKing EMBEDDED VALUE
FOR OWNERS, OPERATORS & DEVELOPERS
fee simple
with Safehold® Ground Lease
$35.0M Equity
35% of Property Value
$22.7M Equity
35% of Building Value
$65.0M Loan
4.25% Fixed Rate, 10yr Term
65% of Property Value

$42.3M Loan
4.25% Fixed Rate, 10yr Term
65% of Building Value
$35.0M Safehold®
3.5% Initial Yield
Enhanced returns
Same Fee Simple Purchase Price at 5.25%
$100.0M
35% Less Equity Required
18% increase in Unlevered Yield
38% increase in Cash-on-Cash Returns
42% higher IRRs (10 Year Hold)
41% higher Multiples (10 Year Hold)
UNLOCKing EMBEDDED VALUE
FOR OWNERS, OPERATORS &DEVELOPERS
fee simple
With Safehold® GROUND LEASE
$35.0M Equity
35% of Property Value
$22.7M Equity
35% of Building Value
$65.0M Loan
$65.0M Loan
3.50% Fixed Rate, 10yr Term
65% of Property Value
$42.3M Loan
3.50% Fixed Rate, 10yr Term
65% of building value
$35.0M Safehold®
3.25% Initial Yield
Enhanced returns
Same Fee Simple Purchase Price at 4.75%
Fee Simple
Ground Lease
35% Less Equity Required
Fee Simple
Ground Lease
17% increase in Unlevered Yield
Fee Simple
Ground Lease
32% increase in Cash-on-Cash Returns
Fee Simple
Ground Lease
40% higher IRRs (10 Year Hold)
Fee Simple
Ground Lease
39% higher Multiples (10 Year Hold)
Fee Simple
Ground Lease