Safehold increases revolving credit facility to $1.35 billion

By Wendy Van Sickle

Columbus, Ohio, Dec. 15 – Safehold Inc. upsized its unsecured revolving credit facility to $1.35 billion from $1 billion, according to a news release.

“With its increased size, the enhanced credit facility allows Safehold to flexibly and quickly deliver efficient capital to our customers,” said Jay Sugarman, chairman and chief executive officer of Safehold, in the release. “As we recently announced, we have been scaling the business at a strong pace and by increasing our dry powder we position ourselves to finish the year strong and set ourselves up for an exciting 2022 and beyond.”

No other changes were made to the existing terms.

JPMorgan Chase Bank, NA is the administrative agent.

JPMorgan, BofA Securities, Inc. and Goldman Sachs Bank USA are the joint bookrunners and joint lead arrangers on the transaction.

Safehold is the creator of the ground lease industry based in New York.

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