Safehold, a REIT specializing in ground leases, has successfully closed on a ground lease for The Crawford, an upcoming affordable housing community located in Roseville. Developed by USA Properties and featuring 265 units eligible for low-income tax credits, this project marks another successful collaboration between Safehold and the Sacramento-based developer.
Steve Wylder, head of investments at Safehold expressed excitement about expanding their partnership with USA Properties and further establishing themselves as leaders in the affordable housing market. VP Ethan Torbati added that Roseville is an ideal location due to its high-growth potential and strong demographics.
While specific details of the lease agreement were not disclosed, it was revealed that this transaction is one of six affordable housing deals completed by Safehold in California during 2024. This success has been recognized by industry experts such as Tax Credit Advisor who recently published an article highlighting how ground leases can benefit modern affordable housing developments through their unique structure.
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