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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Net investment in sales-type leases ($5,969 and $465 of allowances as of September 30, 2024 and December 31, 2023, respectively) [1] $ 3,440,042 $ 3,255,195
Ground Lease receivables, net ($3,229 and $369 of allowances as of September 30, 2024 and December 31, 2023, respectively) [1] 1,779,147 1,622,298
Real estate, at cost [1] 740,971 744,337
Less: accumulated depreciation [1] (44,921) (40,400)
Real estate, net [1] 696,050 703,937
Real estate-related intangible assets, net [1] 210,399 211,113
Real estate available and held for sale [1] 7,779 9,711
Total real estate, net and real estate-related intangible assets, net and real estate available and held for sale [1] 914,228 924,761
Loans receivable, net - related party ($2,515 and $2,429 of allowances as of September 30, 2024 and December 31, 2023, respectively) [1] 112,345 112,111
Equity investments [1] 246,310 310,320
Cash and cash equivalents [1] 15,579 18,761
Restricted cash [1] 8,683 27,979
Deferred tax asset, net [1] 6,706 7,619
Deferred operating lease income receivable [1] 203,120 180,032
Deferred expenses and other assets, net [1],[2] 88,760 89,238
Total assets [1] 6,814,920 6,548,314
Liabilities:    
Accounts payable, accrued expenses and other liabilities [1] 138,601 134,518
Real estate-related intangible liabilities, net [1] 63,130 63,755
Debt obligations, net [1] 4,295,673 4,054,365
Total liabilities [1] 4,497,404 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, 71,436 and 71,077 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively [1] 714 711
Additional paid-in capital [1] 2,190,240 2,184,299
Retained earnings [1] 89,175 47,580
Accumulated other comprehensive income (loss) [1] 7,691 (1,337)
Total Safehold Inc. shareholders' equity [1] 2,287,820 2,231,253
Noncontrolling interests [1] 29,696 45,412
Total equity [1] 2,317,516 2,276,665
Total liabilities, redeemable noncontrolling interests and equity [1] $ 6,814,920 $ 6,548,314
[1] Refer to Note 2 for details on the Company’s consolidated variable interest entities (“VIEs”).
[2] As of September 30, 2024 and December 31, 2023, includes $4.3 million and $7.1 million, respectively, due from related parties.