NEW YORK--(BUSINESS WIRE)--Safety, Income & Growth Inc. (NYSE:SAFE), the leading company focused on ground leases, announced it has originated a new ground lease on two office buildings, 100 & 200 Glenridge Point, in the Central Perimeter submarket of Atlanta, Georgia with repeat client Richmond Honan.
The transaction marks the third time Richmond Honan has utilized a SAFE Ground Lease™ solution and represents SAFE’s fourth successful ground lease in Atlanta, GA. The ground lease features fixed annual rent escalations over 99 years with periodic CPI-based adjustments. The two adjacent Glenridge Point buildings are both five stories and total 185,000 sf. The property is well-located at the intersection of GA-400 and I-285, near three hospital systems, three MARTA transit stations, and multiple corporate headquarters.
“We are building strong momentum in the Atlanta marketplace. The SAFE Ground Lease™ provides a low-cost, long-duration solution that continues to enable clients to unlock value and achieve better returns,” said Greg Camia, Senior Vice President in the Atlanta office.
Safety, Income & Growth Inc. (NYSE: SAFE) is the first publicly traded company that focuses on acquiring, owning, managing and capitalizing ground leases. The Company seeks to provide safe, growing income and capital appreciation to shareholders by building a diversified portfolio of high quality ground leases. The Company, which is taxed as a real estate investment trust (REIT), is managed by its largest shareholder, iStar Inc. Additional information on SAFE is available on its website at www.safetyincomegrowth.com.