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Safehold | The Ground Lease Company | May 2024
Balance Sheet
APPENDIX
Note: Figures in thousands.
As of March 31, 2024 As of December 31, 2023
Assets:
Net investment in sales-type leases $3,341,658 $3,255,195
Ground Lease receivables, net 1,661,063 1,622,298
Real estate:
Real estate, at cost 743,423 744,337
Less: accumulated depreciation (41,907) (40,400)
Real estate, net 701,516 703,937
Real estate-related intangible assets, net 212,657 211,113
Real estate available and held for sale 10,625 9,711
Total real estate, net, real estate-related intangible assets, net and real
estate available and held for sale 924,798 924,761
Loans receivable, net - related party 112,179 112,111
Equity investments 275,295 310,320
Cash and cash equivalents 11,284 18,761
Restricted cash 27,891 27,979
Deferred tax assets, net 6,744 7,619
Deferred operating lease income receivable 187,750 180,032
Deferred expenses and other assets, net 124,877 89,238
Total assets $6,673,539 $6,548,314
Liabilities:
Accounts payable, accrued expenses, and other liabilities $118,593 $134,518
Real estate-related intangible liabilities, net 63,546 63,755
Debt obligations, net 4,142,878 4,054,365
Total liabilities $4,325,017 $4,252,638
Redeemable noncontrolling interests $19,011 $19,011
Equity:
Safehold Inc. shareholders' equity:
Common stock $714 $711
Additional paid-in capital 2,190,671 2,184,299
Retained earnings 65,630 47,580
Accumulated other comprehensive income (loss) 26,458 (1,337)
Total Safehold Inc. shareholders' equity $2,283,473 $2,231,253
Noncontrolling interests $46,038 $45,412
Total equity $2,329,511 $2,276,665
Total liabilities, redeemable noncontrolling interests and equity $6,673,539 $6,548,314 |