NEW YORK–(BUSINESS WIRE)– Safety, Income & Growth Inc. (NYSE:SAFE), the leading company focused on ground leases, announced it has originated a new ground lease on two office buildings, 100 & 200 Glenridge Point, in the Central Perimeter submarket of Atlanta, Georgia with repeat client Richmond Honan.
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The transaction marks the third time Richmond Honan has utilized a SAFE Ground Lease™ solution and represents SAFE’s fourth successful ground lease in Atlanta, GA. The ground lease features fixed annual rent escalations over 99 years with periodic CPI-based adjustments. The two adjacent Glenridge Point buildings are both five stories and total 185,000 sf. The property is well-located at the intersection of GA-400 and I-285, near three hospital systems, three MARTA transit stations, and multiple corporate headquarters.
“We are building strong momentum in the Atlanta marketplace. The SAFE Ground Lease™ provides a low-cost, long-duration solution that continues to enable clients to unlock value and achieve better returns,” said Greg Camia, Senior Vice President in the Atlanta office.
Safety, Income & Growth Inc. (NYSE: SAFE) is the first publicly traded company that focuses on acquiring, owning, managing and capitalizing ground leases. The Company seeks to provide safe, growing income and capital appreciation to shareholders by building a diversified portfolio of high quality ground leases. The Company, which is taxed as a real estate investment trust (REIT), is managed by its largest shareholder, iStar Inc. Additional information on SAFE is available on its website at www.safetyincomegrowth.com.
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Client Contacts:
Tim Doherty, 212-930-9433
Executive Vice President
Head of Ground Lease Investments
tdoherty@istar.com
or
Greg Camia, 678-339-2014
Senior Vice President
Investments
gcamia@istar.com
or
Investor Relations Contact:
Safety, Income & Growth Inc.
Jason Fooks, 212-930-9400
Vice President
Investor Relations & Marketing
investors@safetyincomegrowth.com
Source: Safety, Income & Growth Inc.
