California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Safehold Closes on Ground Lease for Santa Clara LIHTC
New York City-based ground lease REIT Safehold, Inc. has closed on a ground lease to facilitate the ground-up development of 80 Saratoga, a 200-unit Low Income Housing Tax Credit (LIHTC) community in Santa Clara. Terms of the transaction weren’t disclosed.
The project will be developed by The Pacific Companies, an Idaho-based firm and prolific developer of affordable housing throughout the western U.S.
“We are pleased to establish a relationship with a top-tier sponsor in The Pacific Companies,” said Steve Wylder, EVP with Safehold. “Safehold’s platform has continued to scale across the country and we are excited to be a part of a high-quality development that will provide much-needed affordable housing.”
Rendering courtesy of Architects Orange.
- ◦Sale/Acquisition
- ◦Development
