地面净租赁公司:Safety, Income and Growth(SAFE)

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地面净租赁公司:Safety, Income and Growth(SAFE)

安全收益和增长公司Safety, Income and Growth, Inc.(NYSE:SAFE)创立于2016年,总部位于美国美国纽约州纽约市,自诩为第一家公开上市的以收购、管理和资本运作地面净租赁(Ground Net Leases, GNLs)为主业的公司,公司通过运用一个多元化的高质量GNLs资产组合,为股东提供安全、收益增长和资本增值。

地面净租赁公司:Safety, Income and Growth(SAFE)

Safety, Income and Growth(SAFE)美股百科:

We target GNLs because we believe that rental income from GNLs can provide us with a safe, secure and growing cash flow stream. We believe that GNLs offer us the opportunity to realize superior risk-adjusted total returns when compared to certain other alternative commercial property debt and equity investments. We intend to target investments in long-term GNLs in which: (i) the initial value of our GNL represents 30% to 45% of the Combined Property Value; (ii) the Ground Rent Coverage of the GNL is between 2.0x to 5.0x; and (iii) the GNL contains contractual rent escalation clauses or percentage rent that participates in gross revenues generated by the commercial real estate on the land. We believe that these target attributes will mitigate the effects of inflation, compensate for anticipated increases in land values over time and establish a conservative position in the case of defaults. We also believe that the GNL structure provides an opportunity for future investment value accretion through the reversion to us, as the GNL owner, of the buildings and improvements on the land at the expiration or earlier termination of the lease, for no additional consideration from us. We intend to construct a portfolio of GNLs diversified by property type, geography, tenant and lease term.

We have a diverse initial portfolio that is comprised of 12 properties located in major metropolitan areas that were acquired or originated by iStar over the past 20 years. All of the properties in our initial portfolio are subject to  long-term net leases consisting of seven GNLs and one master lease (covering  five properties) that provide for periodic contractual rental escalations or  percentage rent participations in gross revenues generated at the relevant  properties.

We intend to acquire two additional GNLs shortly after the closing of this  offering, which we refer to as our "acquisition GNLs." The acquisition GNLs are located in Los Angeles, California and total approximately 330,000 square feet  of land area containing a mix of apartments, retail and parking. Each of the  acquisition GNLs has approximately 87 years remaining on its term. The aggregate purchase price for both acquisition GNLs is $142.0 million. iStar has entered into separate definitive purchase agreements to acquire the acquisition GNLs. We will assume the purchase agreements at the closing of this offering or, if iStar has acquired the acquisition GNLs before the closing of this offering, we will  acquire the acquisition GNLs from iStar. We intend to complete the purchases  using a portion of the net proceeds from this offering and the concurrent iStar  placement.

We will be externally managed by SFTY Manager LLC, a wholly-owned subsidiary of iStar. Although our manager was recently formed, iStar has been an active real estate investor for over 20 years and has executed transactions with an  aggregate value in excess of $35.0 billion. iStar has an extensive network for  sourcing investments, which includes relationships with brokers, corporate  tenants and developers, that it has established over its long operating history. As of March 31, 2017, iStar had total assets of approximately $5.3 billion and 191 employees in its New York City headquarters and its seven regional offices across the United States.

On or before April 14, 2017, (i) we completed a series of transactions through which we acquired our initial portfolio from iStar, (ii) we entered into the $227.0 million "initial portfolio financing," which is a loan secured by our  initial portfolio of 12 properties and (iii) two institutional investors, GICRE and LA, whom we refer to as the "continuing investors," acquired 2,875,000 shares of our common stock, representing a 51% ownership interest in our company at such time. Concurrently with the completion of this offering, iStar will purchase 2,250,000 shares of our common stock in the concurrent iStar placement at the initial public offering price per share for an aggregate purchase price of $45.0 million. Immediately after giving effect to this offering, the formation transactions and the concurrent iStar placement, iStar will own approximately 27.6% of our outstanding common stock and the continuing investors will own approximately 15.8% of our outstanding common stock.

Safety, Income and Growth(SAFE)美股投资:

Safety, Income and Growth, Inc.(NYSE:SAFE)于6/22/2017 IPO登陆纽交所,发行价20美元,发行1025万股,募资2.05亿美金,股票代码:SAFE。

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