Safety, Income & Growth Inc. (NYSE: SAFE) said Feb.14 that it has changed its name to Safehold Inc., effective officially as of Feb. 25. The company will retain the same ticker symbol.
The rebranding reflects the “natural evolution” of the business and positions it to further expand its reach and become the industry standard for efficient capital structures, according to the company.
Jay Sugarman, chairman and CEO of Safehold and its manager iStar (NYSE:STAR), said the rebrand is about “far more than a stronger name, logo, and visual system; we want prospective customers to clearly understand how we offer a competitive advantage, reducing the cost of capital, and providing a low, predictable cost of funds over a very long term.”
In a fourth quarter earnings release, Safehold said it has nearly tripled the size of its portfolio since its June 2017 IPO. “Our $250 million of fresh equity capital provides us with the necessary runway to continue our growth into 2019,” Sugarman said.
(Contact: Sarah Borchersen-Keto at sborchersen-keto@nareit.com )