revenue $110.9M, net income $28.9M. Safehold faces litigation, tenant defaults as it enters hotel operations; credit upgraded to A-

Filed May 1, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~2 min read

Key Changes

• high

  The shift signals emergence of significant legal risk.

  Legal Proceedings verify on EDGAR →
• high

  Initiated litigation against Park Hotels tenant for lease breaches and sent termination notice for all five hotels (3.3% of portfolio). Outcome uncertain; two hotels reverted to company operations Jan 1, creating new Hotel Operations segment with $2.3M Q1 operating loss.

  MD&A: Park Hotels verify on EDGAR →
• high

  Tenant at significant New York office property defaulted on forbearance agreement after failing to pay real estate taxes, forcing company to advance $8.3M in protective payments. Company warns of enforcement delays, potential losses, and substantial costs.

  MD&A: New York Office verify on EDGAR →