v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Net investment in sales-type leases ($11,138 and $10,750 of allowances as of June 30, 2026 and December 31, 2025, respectively) [1] $ 3,674,566 $ 3,563,675
Ground Lease receivables, net ($5,134 and $4,872 of allowances as of June 30, 2026 and December 31, 2025, respectively) [1] 2,130,999 2,003,931
Real estate, at cost [1] 743,822 740,971
Less: accumulated depreciation [1] (55,321) (52,222)
Real estate, net [1] 688,501 688,749
Real estate-related intangible assets, net [1] 202,247 204,016
Real estate available and held for sale [1]   2,028
Total real estate, net and real estate-related intangible assets, net and real estate available and held for sale [1] 890,748 894,793
Equity investments [1] 291,766 280,850
Cash and cash equivalents [1] 15,922 21,705
Restricted cash [1] 10,182 9,031
Deferred tax asset, net [1] 3,271 3,516
Deferred operating lease income receivable [1] 256,107 241,100
Deferred expenses and other assets, net [1],[2] 68,927 72,030
Total assets [1] 7,520,024 7,249,275
Liabilities:    
Accounts payable, accrued expenses and other liabilities [1] 171,591 161,420
Real estate-related intangible liabilities, net [1] 61,673 62,089
Debt obligations, net [1] 4,653,713 4,585,887
Total liabilities [1] 4,886,977 4,809,396
Commitments and contingencies (refer to Note 11) [1]
Redeemable noncontrolling interests 800  
Safehold Inc. shareholders' equity:    
Common stock, $0.01 par value, 400,000 shares authorized, 71,057 and 71,756 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively [1] 711 717
Additional paid-in capital [1] 2,187,162 2,199,265
Retained earnings [1] 199,294 165,737
Accumulated other comprehensive income (loss) [1] 51,979 42,592
Total Safehold Inc. shareholders' equity [1] 2,439,146 2,408,311
Noncontrolling interests [1] 193,101 31,568
Total equity [1] 2,632,247 2,439,879
Total liabilities and equity [1] 7,520,024 7,249,275
Nonrelated party    
ASSETS    
Loans receivable, net [1] 64,986 46,088
Related party    
ASSETS    
Loans receivable, net [1] 112,550 112,556
Deferred expenses and other assets, net $ 2,500 $ 3,000
[1] Refer to Note 2 for details on the Company’s consolidated variable interest entities (“VIEs”).
[2] As of June 30, 2026 and December 31, 2025, includes $2.5 million and $3.0 million, respectively, due from related parties.