| 10
Safehold | The Ground Lease Company | July 2024
Balance Sheet
APPENDIX
Note: Figures in thousands.
As of June 30, 2024 As of December 31, 2023
Assets:
Net investment in sales-type leases $3,380,007 $3,255,195
Ground Lease receivables, net 1,746,567 1,622,298
Real estate:
Real estate, at cost 740,971 744,337
Less: accumulated depreciation (43,414) (40,400)
Real estate, net 697,557 703,937
Real estate-related intangible assets, net 210,988 211,113
Real estate available and held for sale 9,654 9,711
Total real estate, net, real estate-related intangible assets, net and real
estate available and held for sale 918,199 924,761
Loans receivable, net - related party 112,247 112,111
Equity investments 243,302 310,320
Cash and cash equivalents 13,418 18,761
Restricted cash 8,604 27,979
Deferred tax assets, net 6,607 7,619
Deferred operating lease income receivable 195,444 180,032
Deferred expenses and other assets, net 144,571 89,238
Total assets $6,768,966 $6,548,314
Liabilities:
Accounts payable, accrued expenses, and other liabilities $132,582 $134,518
Real estate-related intangible liabilities, net 63,338 63,755
Debt obligations, net 4,190,587 4,054,365
Total liabilities $4,386,507 $4,252,638
Redeemable noncontrolling interests - $19,011
Equity:
Safehold Inc. shareholders' equity:
Common stock $714 $711
Additional paid-in capital 2,191,354 2,184,299
Retained earnings 82,597 47,580
Accumulated other comprehensive income (loss) 38,239 (1,337)
Total Safehold Inc. shareholders' equity $2,312,904 $2,231,253
Noncontrolling interests $69,555 $45,412
Total equity $2,382,459 $2,276,665
Total liabilities, redeemable noncontrolling interests and equity $6,768,966 $6,548,314 |