Financing ·
Star Holdings pays $2.4M fee to extend maturity of its $115.0M term loan by one year
STHOStar Holdings
Star Holdings entered into a Third Amendment to its Term Loan Credit Agreement with Safehold Inc., extending the maturity date by one year to March 31, 2029, with an option to extend further to September 30, 2029. The amendment increases interest rates by 1.0% during any extension period and permits voluntary prepayments of up to $50.0 million. Star Holdings paid a maturity extension fee of $2.4 million against the $115.0 million outstanding term loan principal. Concurrently, the company amended its Management Agreement with Safehold Management Services Inc., raising the termination fee from $55.0 million to $62.5 million and adjusting minimum quarterly management fees for 2027-2029. Additionally, Star Holdings voluntarily reduced its margin loan facility balance by approximately $48.0 million, bringing it down to $46.5 million using asset sale proceeds and restricted cash. The company operates in the real estate industry, specifically owning and managing commercial properties.