NEW YORK--(BUSINESS WIRE)--
Safety, Income & Growth Inc. (NYSE:SAFE), the leading company focused on
ground leases, announced it has originated a new ground lease on two
office buildings, 100 & 200 Glenridge Point, in the Central Perimeter
submarket of Atlanta, Georgia with repeat client Richmond Honan.
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100 Glenridge Point (Photo: Business Wire)
The transaction marks the third time Richmond Honan has utilized a SAFE
Ground Lease™ solution and represents SAFE’s fourth successful ground
lease in Atlanta, GA. The ground lease features fixed annual rent
escalations over 99 years with periodic CPI-based adjustments. The two
adjacent Glenridge Point buildings are both five stories and total
185,000 sf. The property is well-located at the intersection of GA-400
and I-285, near three hospital systems, three MARTA transit stations,
and multiple corporate headquarters.
“We are building strong momentum in the Atlanta marketplace. The SAFE
Ground Lease™ provides a low-cost, long-duration solution that continues
to enable clients to unlock value and achieve better returns,” said Greg
Camia, Senior Vice President in the Atlanta office.
Safety, Income & Growth Inc. (NYSE: SAFE) is the first publicly traded
company that focuses on acquiring, owning, managing and capitalizing
ground leases. The Company seeks to provide safe, growing income and
capital appreciation to shareholders by building a diversified portfolio
of high quality ground leases. The Company, which is taxed as a real
estate investment trust (REIT), is managed by its largest shareholder,
iStar Inc. Additional information on SAFE is available on its website at www.safetyincomegrowth.com.
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Client Contacts:
Tim Doherty, 212-930-9433
Executive Vice
President
Head of Ground Lease Investments
tdoherty@istar.com
or
Greg
Camia, 678-339-2014
Senior Vice President
Investments
gcamia@istar.com
or
Investor
Relations Contact:
Safety, Income & Growth Inc.
Jason
Fooks, 212-930-9400
Vice President
Investor Relations &
Marketing
investors@safetyincomegrowth.com
Source: Safety, Income & Growth Inc.