Star Holdings unit amends Morgan Stanley margin loan, cuts Safehold share trigger to $8
STHO•Star Holdings unit STAR SPV amended its Morgan Stanley margin loan on Oct. 9, lowering the Safehold share-price trigger for mandatory prepayment to $8 from $10. The amendment terminated an undrawn commitment of up to $15.8 million and tightened loan-to-value ratios; about $46.5 million was outstanding before the amendment.
1. Loan terms amended
STAR SPV amended its margin loan agreement with Morgan Stanley on Oct. 9, 2026. The Safehold share-price trigger for mandatory prepayment fell to $8 from $10, and an undrawn delayed-draw commitment of up to $15.8 million was terminated. Loan-to-value ratios were tightened, increasing collateral posting requirements and limiting collateral release requests. About $46.5 million was outstanding before the amendment, secured by a first-priority pledge of Safehold shares.
