NEW YORK--(BUSINESS WIRE)--Safehold Inc. (NYSE: SAFE) announced today that it has commenced an underwritten public offering to sell 900,000 shares of its common stock. The Company intends to grant the underwriters in the offering a 30-day option to purchase up to an additional 135,000 shares of its common stock.

Concurrently with the completion of the public offering, Safehold will sell to iStar Inc. (NYSE: STAR) in a private placement, a number of shares of common stock equal to 66% of the total number of shares sold in the offering and the concurrent private placement (excluding any shares sold pursuant to the underwriters' additional purchase option) up to a maximum aggregate purchase price of $80 million, at the public offering price per share and subject to rounding.

The Company intends to use the net proceeds from the offering and concurrent private placement to make additional ground lease investments and for general business purposes.

About Safehold:

Safehold Inc. (NYSE: SAFE) is a publicly traded REIT that originates and acquires ground leases in order to generate attractive long-term risk-adjusted returns.