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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Net investment in sales-type leases ($6,821 and $465 of allowances as of December 31, 2024 and 2023, respectively) [1] $ 3,454,953 $ 3,255,195
Ground Lease receivables, net ($3,664 and $369 of allowances as of December 31, 2024 and 2023, respectively) [1] 1,833,398 1,622,298
Real estate, at cost [1] 740,971 744,337
Less: accumulated depreciation [1] (46,428) (40,400)
Real estate, net [1] 694,543 703,937
Real estate-related intangible assets, net [1] 208,731 211,113
Real estate available and held for sale [1] 7,233 9,711
Total real estate, net and real estate-related intangible assets, net and real estate available and held for sale [1] 910,507 924,761
Loans receivable, net - related party ($2,311 and $2,429 of allowances as of December 31, 2024 and 2023, respectively) [1] 112,359 112,111
Equity investments [1] 250,034 310,320
Cash and cash equivalents [1] 8,346 18,761
Restricted cash [1] 8,772 27,979
Deferred tax asset, net [1] 5,222 7,619
Deferred operating lease income receivable [1] 210,773 180,032
Deferred expenses and other assets, net [1],[2] 105,015 89,238
Total assets [1] 6,899,379 6,548,314
Liabilities:    
Accounts payable, accrued expenses and other liabilities [1] 144,991 134,518
Real estate-related intangible liabilities, net [1] 62,922 63,755
Debt obligations, net [1] 4,317,439 4,054,365
Total liabilities [1] 4,525,352 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, 71,440 and 71,077 shares issued and outstanding as of December 31, 2024 and 2023, respectively [1] 714 711
Additional paid-in capital [1] 2,191,840 2,184,299
Retained earnings [1] 102,472 47,580
Accumulated other comprehensive income (loss) [1] 48,992 (1,337)
Total Safehold Inc. shareholders' equity [1] 2,344,018 2,231,253
Noncontrolling interests [1] 30,009 45,412
Total equity [1] 2,374,027 2,276,665
Total liabilities, redeemable noncontrolling interests and equity [1] $ 6,899,379 $ 6,548,314
[1] Refer to Note 2 for details on the Company’s consolidated variable interest entities ("VIEs").
[2] As of December 31, 2024 and 2023, includes $3.8 million and $7.1 million, respectively, due from related parties.