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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Net investment in sales-type leases ($465 and $0 of allowances as of December 31, 2023 and 2022, respectively) [1] $ 3,255,195 $ 3,106,599
Ground Lease receivables, net ($369 and $0 of allowances as of December 31, 2023 and 2022, respectively) [1] 1,622,298 1,374,716
Real estate, at cost [1] 744,337 740,971
Less: accumulated depreciation [1] (40,400) (34,371)
Real estate, net [1] 703,937 706,600
Real estate-related intangible assets, net [1] 211,113 217,795
Real estate available and held for sale [1] 9,711  
Total real estate, net and real estate-related intangible assets, net and real estate available and held for sale [1] 924,761 924,395
Loans receivable, net - related party ($2,429 of allowances as of December 31, 2023) [1] 112,111  
Equity investments [1] 310,320 180,388
Cash and cash equivalents [1] 18,761 20,066
Restricted cash [1] 27,979 28,324
Deferred tax asset, net [1] 7,619  
Deferred operating lease income receivable [1] 180,032 148,870
Deferred expenses and other assets, net [1],[2] 89,238 67,564
Total assets [1] 6,548,314 5,850,922
Liabilities:    
Accounts payable, accrued expenses and other liabilities [1],[3] 134,518 100,357
Real estate-related intangible liabilities, net [1] 63,755 64,591
Debt obligations, net [1] 4,054,365 3,521,359
Total liabilities [1] 4,252,638 3,686,307
Commitments and contingencies (refer to Note 10) [1]
Redeemable noncontrolling interests (refer to Note 3) [1] 19,011 19,011 [4]
Equity:    
Common stock, $0.01 par value, 400,000 shares authorized, 71,066 and 62,397 shares issued and outstanding as of December 31, 2023 and 2022, respectively [1] 711 624
Additional paid-in capital [1] 2,184,299 1,986,417
Retained earnings [1] 47,580 151,226
Accumulated other comprehensive income (loss) [1] (1,337) 3,281
Total Safehold Inc. shareholders' equity [1] 2,231,253 2,141,548
Noncontrolling interests [1] 45,412 4,056
Total equity [1] 2,276,665 2,145,604
Total liabilities, redeemable noncontrolling interests and equity [1] $ 6,548,314 $ 5,850,922
[1] Refer to Note 2 for details on the Company’s consolidated variable interest entities ("VIEs").
[2] As of December 31, 2023, includes $7.1 million due from related parties.
[3] As of December 31, 2022, includes $8.5 million due to related parties.
[4] Refer to Note 3