Safehold, Inc., a ground lease REIT, has recently finalized the ground lease for The Orion, an upcoming senior affordable community in Orange. This project will be developed by USA Properties Fund and is estimated to cost $9 million. Safehold’s EVP and head of investments Steve Wylder expressed excitement about this partnership and their role in creating much-needed affordable housing.
In the first quarter of 2021, Safehold reported strong financial results with $93.2 million in revenue and $30.7 million in net income ($0.43 earnings per share). Chairman and CEO Jay Sugarman commented on the company’s ability to deploy capital into attractive opportunities while serving their customers.
The article “Safehold Closes on Ground Lease of Senior Affordable Project in Orange” highlights Safehold’s recent success with securing a ground lease for The Orion development led by USA Properties Fund without mentioning specific locations or brands associated with Connect CRE.
