Safehold closes two California affordable housing ground leases for 570 units
SAFE•Safehold closes two California ground leases
Safehold closed two California ground leases in June to finance LIHTC affordable housing developments totaling 570 units.
The projects are in the Simi Valley area of Ventura County, California, and the San Ysidro area of San Diego County, California.
The Pacific Companies will develop both communities, extending a repeat-customer relationship for Safehold’s affordable housing platform.
Tax credit equity support comes from U.S. Bank for one project, and Wells Fargo for the other.
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