Safehold Reports $9.87 Billion in Unrealized Capital Appreciation for its Portfolio

Safehold Inc. announced its estimated unrealized capital appreciation (UCA) in its owned residual ground lease portfolio was $9.87 billion as of September 30, 2026. This figure represents the estimated aggregate value of the land and buildings in its portfolio in excess of the company's cost basis in the associated ground leases.

Key Details

• UCA Calculation: The $9,867 million UCA is based on an estimated Combined Property Value of $16,812 million, less a Ground Lease Cost basis of $6,945 million.
• Valuation Date: The reported figures are as of September 30, 2026.
• Valuation Process: The property valuations are determined periodically with the support of independent valuation firm CBRE, Inc., which prepares reports on the Combined Property Value for Safehold's portfolio.