Financing ·
Safehold extends maturity on $115M term loan by one year after receiving $2.4 million fee from Star Holdings
SAFESafehold Inc.
Safehold Inc., acting as lender, entered into a Third Amendment to its term loan credit agreement with Star Holdings on September 29, 2026. The amendment extends the maturity date by one year to March 31, 2029, with an option to extend further to September 30, 2029 upon payment of a 0.5% fee and a 1.0% interest rate increase during that period. Star Holdings paid a $2.4 million maturity extension fee, bringing the outstanding term loan principal balance to $115.0 million. The amendment permits voluntary prepayments up to $50.0 million and establishes a restricted payments basket allowing Star Holdings to repurchase up to $10.0 million of its common shares after prepaying at least $40.0 million of its margin loan facility. Concurrently, Safehold Management Services Inc., a wholly-owned subsidiary, amended its management agreement with Star Holdings to set minimum quarterly fees of $1.25 million for the term ending March 31, 2028 and $625,000 for the subsequent year. The termination fee was increased from $55.0 million to $62.5 million, and the period requiring such payment was extended to March 31, 2029. Safehold Inc. operates in the real estate industry, providing financing and management services primarily to Star Holdings.