v3.26.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
ASSETS    
Net investment in sales-type leases ($12,045 and $10,750 of allowances as of September 30, 2026 and December 31, 2025, respectively) [1] $ 3,732,306 $ 3,563,675
Ground Lease receivables, net ($5,595 and $4,872 of allowances as of September 30, 2026 and December 31, 2025, respectively) [1] 2,206,382 2,003,931
Real estate, at cost [1] 743,840 740,971
Less: accumulated depreciation [1] (56,872) (52,222)
Real estate, net [1] 686,968 688,749
Real estate-related intangible assets, net [1] 201,363 204,016
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] 888,331 894,793
Equity investments [1] 296,148 280,850
Cash and cash equivalents [1] 29,854 21,705
Restricted cash [1] 10,974 9,031
Deferred tax asset, net [1] 1,513 3,516
Deferred operating lease income receivable [1] 263,570 241,100
Deferred expenses and other assets, net [1],[2] 85,481 72,030
Total assets [1] 7,695,407 7,249,275
Liabilities:    
Accounts payable, accrued expenses and other liabilities [1] 180,939 161,420
Real estate-related intangible liabilities, net [1] 61,464 62,089
Debt obligations, net [1] 4,799,314 4,585,887
Total liabilities [1] 5,041,717 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, 70,745 and 71,756 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively [1] 707 717
Additional paid-in capital [1] 2,181,773 2,199,265
Retained earnings [1] 215,516 165,737
Accumulated other comprehensive income (loss) [1] 58,212 42,592
Total Safehold Inc. shareholders' equity [1] 2,456,208 2,408,311
Noncontrolling interests [1] 196,682 31,568
Total equity [1] 2,652,890 2,439,879
Total liabilities and equity [1] 7,695,407 7,249,275
Nonrelated party    
ASSETS    
Loans receivable, net [1] 70,753 46,088
Related party    
ASSETS    
Loans receivable, net [1] 110,095 112,556
Deferred expenses and other assets, net $ 4,600 $ 3,000
[1] Refer to Note 2 for details on the Company’s consolidated variable interest entities (“VIEs”).
[2] As of September 30, 2026 and December 31, 2025, includes $4.6 million and $3.0 million, respectively, due from related parties.