AP NEWS

Safety, Income & Growth Originates New Ground Lease in Orlando

June 6, 2018

Promenade Crossing (Photo: Business Wire)

NEW YORK--(BUSINESS WIRE)--Jun 6, 2018--Safety, Income & Growth Inc. (NYSE: SAFE), the leading company focused on ground leases, announced it has originated a new ground lease on a Class A multifamily property, Promenade Crossing, in the Baldwin Park submarket of Orlando, Florida with new client, The Dinerstein Companies.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180606006204/en/

Promenade Crossing (Photo: Business Wire)

Promenade Crossing was capitalized by an institutional lender and a SAFE Ground Lease™ which features fixed annual rent escalations over 99 years with periodic CPI-based adjustments. The property is a 212-unit garden-style multifamily community with amenities that include a pool deck with grilling stations, media lounge, fitness center, car wash station, clubhouse, and a dog park. Promenade Crossing is well-located in the high-end Baldwin Park neighborhood with close proximity to shopping centers, office parks, and the Orlando Executive Airport. The asset is currently undergoing capital improvements which will further enhance the property.

“We are pleased to announce our first SAFE Ground Lease™ in the Orlando MSA, a rapidly growing market,” said Tim Doherty, Head of Ground Lease Investments. “SAFE has developed a valuable solution for multifamily investors and we look to continue the strong momentum.”

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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180606006204/en/

CONTACT: Client:

Tim Doherty, 212-930-9433

Executive Vice President

Head of Ground Lease Investments

tdoherty@istar.com

or

Dan Melaugh, 212-703-2688

Vice President

Investments

dmelaugh@istar.com

or

Investor Relations:

Jason Fooks, 212-930-9400

Vice President

Investor Relations & Marketing

investors@safetyincomegrowth.com

KEYWORD: UNITED STATES NORTH AMERICA FLORIDA NEW YORK

INDUSTRY KEYWORD: PROFESSIONAL SERVICES REIT BANKING FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE

SOURCE: Safety, Income & Growth Inc.

Copyright Business Wire 2018.

PUB: 06/06/2018 04:30 PM/DISC: 06/06/2018 05:47 PM

http://www.businesswire.com/news/home/20180606006204/en

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