Safehold publishes transcript of Q2 2026 earnings conference call

Safehold detailed Q2 2026 results on a July 30 earnings call attended by CEO Jay Sugarman, President Michael Trachtenberg, CFO Brett Asnas, and Head of Investments Steve Wylder.

• Originated seven multifamily ground leases totaling $150 million, focused on affordable housing; GLTV 35%, rent coverage 3.0x, economic yield 7.4%.
• Closed a $348 million Brookfield joint venture on seven ground leases, retaining control and a call option to repurchase Brookfield’s 49% interest after year seven.
• Raised $225 million of 30-year step-rate private unsecured notes at a 6.62% all-in coupon; effective cost about 5.83% net of $30 million hedge gains.
• Reported Q2 GAAP revenue of $114.6 million, net income of $30.2 million, and EPS of $0.42; portfolio $7.3 billion, UCA $9.8 billion, liquidity about $1.4 billion.