NEW YORK, March 9, 2026 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE), the leader of the modern ground lease industry, closed on a ground lease and leasehold loan in late-December to facilitate the development of 299 Broadway, a ground-up, 204-unit multifamily development in Somerville, MA. The deal, featured in The Boston Globe, is Safehold's first with Samuels & Associates and Mark Development, two Boston-based multifamily developers.
"We're excited to grow our presence in the Boston MSA and work with top-tier developers that have excellent track records," said Michael Paresky, Vice President at Safehold. "The pairing of low-cost, flexible ground lease and loan capital can help owners execute their business plans and maximize value. We look forward to the opportunity to expand our relationship with Mark Development and Samuels & Associates on future projects."
Safehold's diversified portfolio of ground leases includes over 22,000 multifamily units across the top markets in the United States.
About Safehold:
Safehold Inc. (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, affordable housing, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT), seeks to deliver safe, growing income and long-term capital appreciation to its shareholders. Additional information on Safehold is available on its website at www.safeholdinc.com.
Transaction Contacts: Vice President, Investments |
IR Contact: Pearse Hoffmann SVP, Head of Corporate Finance |
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SOURCE Safehold
