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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Net investment in sales-type leases ($1,522 and $465 of allowances as of June 30, 2024 and December 31, 2023, respectively) [1] $ 3,380,007 $ 3,255,195
Ground Lease receivables, net ($773 and $369 of allowances as of June 30, 2024 and December 31, 2023, respectively) [1] 1,746,567 1,622,298
Real estate, at cost [1] 740,971 744,337
Less: accumulated depreciation [1] (43,414) (40,400)
Real estate, net [1] 697,557 703,937
Real estate-related intangible assets, net [1] 210,988 211,113
Real estate available and held for sale [1] 9,654 9,711
Total real estate, net and real estate-related intangible assets, net and real estate available and held for sale [1] 918,199 924,761
Loans receivable, net - related party ($2,356 and $2,429 of allowances as of June 30, 2024 and December 31, 2023, respectively) [1] 112,247 112,111
Equity investments [1] 243,302 310,320
Cash and cash equivalents [1] 13,418 18,761
Restricted cash [1] 8,604 27,979
Deferred tax asset, net [1] 6,607 7,619
Deferred operating lease income receivable [1] 195,444 180,032
Deferred expenses and other assets, net [1],[2] 144,571 89,238
Total assets [1] 6,768,966 6,548,314
Liabilities:    
Accounts payable, accrued expenses and other liabilities [1] 132,582 134,518
Real estate-related intangible liabilities, net [1] 63,338 63,755
Debt obligations, net [1] 4,190,587 4,054,365
Total liabilities [1] 4,386,507 4,252,638
Commitments and contingencies (refer to Note 10) [1]
Redeemable noncontrolling interests (refer to Note 3) [1]   19,011
Equity:    
Common stock, $0.01 par value, 400,000 shares authorized, 71,435 and 71,077 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively [1] 714 711
Additional paid-in capital [1] 2,191,354 2,184,299
Retained earnings [1] 82,597 47,580
Accumulated other comprehensive income (loss) [1] 38,239 (1,337)
Total Safehold Inc. shareholders' equity [1] 2,312,904 2,231,253
Noncontrolling interests [1] 69,555 45,412
Total equity [1] 2,382,459 2,276,665
Total liabilities, redeemable noncontrolling interests and equity [1] $ 6,768,966 $ 6,548,314
[1] Refer to Note 2 for details on the Company’s consolidated variable interest entities (“VIEs”).
[2] As of June 30, 2024 and December 31, 2023, includes $5.2 million and $7.1 million, respectively, due from related parties.