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Steve Wylder with Safehold Relies on Ground Leases to Expand Affordable Housing Capital

Company: 

Safehold

Steve Wylder joined Safehold in 2007 and has held a succession of investment and asset-management roles. The company named him head of investments in early 2024; he now oversees investment sourcing, structuring and execution across the U.S.

His transaction experience encompasses more than $4 billion of aggregate exposure across ground leases, mortgages, mezzanine financing, preferred equity and joint-venture equity.

More recently, Wylder helped expand Safehold’s use of ground leases to finance affordable housing. The structure allows a developer to separate land ownership from building ownership, potentially reducing the amount of upfront capital required for a project.

The strategy has produced a growing pipeline of affordable housing investments. In California, Safehold provided ground-lease financing for developments totaling hundreds of affordable units, including a 256-unit Low-Income Housing Tax Credit community in the Santa Cruz area. The company has financed two developments in Ventura and San Diego counties, totaling 570 affordable units.

Wylder has also helped take the strategy into Texas. Safehold’s work with The NRP Group on affordable housing developments includes a 336-unit community in northeast Austin. The transaction helped establish a model that Safehold could replicate in the Texas market.

These are some of the reasons why Steve Wylder was selected to receive ApartmentBuildings.com’s AB 100 Investor/Owner of the Year Award, which recognizes those who demonstrate creativity, skill and success in the multifamily industry.

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Steve Wylder

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