Safehold Closes Ground Lease for 207-Unit Affordable Housing Development in Woodland Hills

Safehold Inc. (NYSE: SAFE) has closed on a ground lease for a 207-unit affordable housing development in the Woodland Hills community of Los Angeles, California, the company announced Jan. 6, 2026.

The Low Income Tax Credit development, located in the Warner Center area, will provide 207 total units upon delivery in 2028. The project will be developed by Meta Housing, a Los Angeles-based affordable housing development firm.

Safehold Expands Affordable Housing Portfolio

The transaction represents Safehold's continued expansion into the affordable housing sector. The company established a dedicated Affordable Housing team in 2025 with the goal of expanding its investment into the sector.

"We're thrilled to establish a relationship with the team at Meta, and to be a part of this high-quality development in a submarket with significant need for affordable product," said Steve Wylder, Safehold's Head of Investments. "We have continued to expand our presence in the Affordable Housing space and are excited by the strong demand for our ground lease capital and growth in our forward investment pipeline."

Ground Lease Model

Safehold created the modern ground lease industry in 2017 and provides ground lease capital for owners of multifamily, affordable housing, office, industrial, hospitality, student housing, life science and mixed-use properties. The company is structured as a real estate investment trust (REIT).

The ground lease structure allows property owners to unlock the value of the land beneath their buildings. Additional information on Safehold's affordable housing initiatives is available at www.safeholdaffordablehousing.com.

Woodland Hills Development

The Woodland Hills project is located in the Warner Center area of Los Angeles. The 207-unit development will serve the affordable housing market in a submarket with significant need for affordable product.

Meta Housing will serve as the developer for the Low Income Tax Credit project, which is expected to be completed in 2028.

Sources

Safehold Inc.