Safehold Inc. reported significant financial performance for the second quarter of 2026, with total revenues reaching $114.6 million, a 22.1% increase from $93.8 million in the same period of 2025. The growth was primarily driven by a rise in interest income from sales-type leases, which increased to $76.9 million from $70.6 million year-over-year. Additionally, the company generated $15.9 million in hotel revenues following its acquisition of two hotel properties on January 1, 2026. Net income attributable to Safehold Inc. common shareholders was $30.2 million, or $0.42 per share, compared to $27.9 million, or $0.39 per share, in the prior year.
In the first half of 2026, Safehold's total revenues amounted to $225.5 million, up from $191.5 million in the same period of 2025. The increase was attributed to higher interest income from sales-type leases and the addition of hotel revenues. However, operating lease income decreased to $36.0 million from $38.1 million, reflecting the impact of the company's new hotel operations. The company also reported a provision for credit losses of $0.8 million for the first half of 2026, a decrease from $4.6 million in the previous year, indicating improved credit quality in its portfolio.
Strategically, Safehold has expanded its operations through the formation of joint ventures and the acquisition of new assets. Notably, in June 2026, the company established a joint venture with a Brookfield affiliate, contributing seven Ground Leases valued at $348 million. This venture is expected to enhance Safehold's market position and operational capabilities. The company also continues to manage its existing assets effectively, with a focus on Ground Leases, which represent a significant portion of its portfolio.
Operationally, Safehold's total assets increased to $7.52 billion as of June 30, 2026, compared to $7.25 billion at the end of 2025. The company reported a total equity of $2.63 billion, reflecting a rise from $2.44 billion. The increase in assets was driven by the growth in net investments in sales-type leases and Ground Lease receivables, which reached $3.67 billion and $2.13 billion, respectively. The company also reported a total debt obligation of $4.65 billion, up from $4.59 billion, indicating a strategic approach to leverage for growth.
Looking ahead, Safehold remains optimistic about its growth trajectory, emphasizing its commitment to acquiring and managing Ground Leases. The company aims to capitalize on the fragmented market for Ground Lease capital and expand its operations through various channels, including new joint ventures and leasehold loans. Safehold's management believes that its diversified portfolio and strategic initiatives position it well to navigate potential market challenges, including rising interest rates and economic uncertainties.
About Safehold Inc.
Safehold Inc. is a real estate investment company specializing in acquiring, managing, and capitalizing ground leases on commercial properties across major U.S. markets. Its portfolio includes diversified property types, offering long-term, inflation-linked income streams with potential for capital appreciation. The company leverages lease structures with built-in growth features, residual land rights, and strategic origination channels to generate risk-adjusted returns for shareholders.
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