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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Net investment in sales-type leases ($468 and $0 of allowances as of September 30, 2023 and December 31, 2022, [1] $ 3,182,592 $ 3,106,599
Ground Lease receivables, net ($318 and $0 of allowances as of September 30, 2023 and December 31, 2022, respectively) [1] 1,563,670 1,374,716
Real estate, at cost [1] 744,571 740,971
Less: accumulated depreciation [1] (38,892) (34,371)
Real estate, net [1] 705,679 706,600
Real estate-related intangible assets, net [1] 212,771 217,795
Real estate available and held for sale 7,216  
Total real estate, net, real estate-related intangible assets, net and real estate available and held for sale [1] 925,666 924,395
Loans receivable, net - related party ($2,421 of allowances as of September 30, 2023) [1] $ 112,088  
Financing Receivable, after Allowance for Credit Loss, Related Party, Type Related party  
Equity investments [1] $ 287,118 180,388
Cash and cash equivalents [1] 11,483 20,066
Restricted cash [1] 27,978 28,324
Deferred tax asset, net 7,173  
Deferred operating lease income receivable [1] 172,284 148,870
Deferred expenses and other assets, net [1],[2] 153,139 67,564
Total assets [1] 6,443,191 5,850,922
Liabilities:    
Accounts payable, accrued expenses and other liabilities [1],[3] 122,986 100,357
Real estate-related intangible liabilities, net [1] 63,963 64,591
Debt obligations, net [1] 3,937,827 3,521,359
Total liabilities [1] 4,124,776 3,686,307
Commitments and contingencies (refer to Note 9) [1]
Redeemable noncontrolling interests (refer to Note 3) [1] 19,011 19,011
Safehold Inc. shareholders' equity:    
Common stock, $0.01 par value, 400,000 shares authorized, 71,066 and 62,397 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively [1] 710 624
Additional paid-in capital [1] 2,183,034 1,986,417
Retained earnings [1] 19,124 151,226
Accumulated other comprehensive income [1] 61,459 3,281
Total Safehold Inc. shareholders' equity [1] 2,264,327 2,141,548
Noncontrolling interests [1] 35,077 4,056
Total equity [1] 2,299,404 2,145,604
Total liabilities, redeemable noncontrolling interests and equity [1] $ 6,443,191 $ 5,850,922
[1] Refer to Note 2 for details on the Company’s consolidated variable interest entities (“VIEs”).
[2] As of September 30, 2023, includes $7.1 million due from related parties.
[3] As of December 31, 2022, includes $8.5 million due to related parties.