NEW YORK--(BUSINESS WIRE)--
Safety, Income & Growth Inc. (NYSE:SAFE), the leading company focused on
ground leases, announced today that Tye Palonen has joined as Senior
Vice President to focus on expanding ground lease investments in the
West Coast.
“As we continue to grow our ground lease platform across the country we
have brought on Tye to focus on West Coast expansion in major MSAs,”
said Tim Doherty, Head of Ground Lease Investments. “Tye joins the team
with experience in ground lease investments and brings longstanding
local real estate relationships.”
Mr. Palonen has nearly two decades of real estate finance, investment
and management experience. He most recently served as Senior Managing
Director at a family office in Los Angeles, where he focused on ground
leases. Prior to that, he was Vice President at Global Asset Capital, a
private equity investment firm with interests in real estate and
structured finance. Mr. Palonen began his real estate career at Deutsche
Bank in New York City as a member of the Real Estate, Gaming and Lodging
Investment Banking Group where he advised public and private companies
on a variety of capital markets and M&A transactions.
Safety, Income & Growth Inc. (NYSE:SAFE) is the first publicly traded
company focused on ground leases. The Company seeks to provide real
estate owners with better, lower cost capital through its modern ground
lease structure, while delivering safe, growing income and long-term
capital appreciation to its shareholders. The Company targets major
markets throughout the United States, helping owners of high quality
multifamily, office, industrial, hospitality and mixed use properties
ranging from $25 million to $1 billion generate higher returns with less
risk. 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.
View source version on businesswire.com:
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Client Contact:
Tim Doherty
Executive Vice
President
Head of Ground Lease Investments
212-930-9433
tdoherty@istar.com
or
Tye
Palonen
Senior Vice President
Ground Lease Investments
310-954-1904
tpalonen@istar.com
or
Investor
Relations Contact:
Jason Fooks
Vice President
Investor
Relations & Marketing
212-930-9400
investors@safetyincomegrowth.com
Source: Safety, Income & Growth Inc.