Michael Dell’s MSD Partners pays $200M for Safehold shares, part of $1.6B merger

Michael Dell’s MSD Partners bought $200 million in Safehold shares, at the same time as Safehold and iStar executed a complex $1.6 billion merger. The transaction was completed on March 31, 2023, and New York City portion was recorded in city records yesterday in 13 transactions. Safehold invests in ground leased fee positions.

The $200 million MSD Partners investment was reported by Safehold as well as Globe Street.

The 13 transactions included 15 properties with a total of more than 5 million square feet of built space. The properties include, 135 West 50th Street, 685 3rd Avenue, 425 Park Avenue, 195 Broadway, 32 Old Slip and 1164-1172 Broadway.
The deal closed on March 31, 2023 and was recorded on April 25, 2023.

Prior sales and revenue

The seller Safehold Inc. purchased eight properties in seven transactions for a total of $277.3 million and sold two properties in two transactions for a total of $44 million over the past 24 months.

Direct link to Acris document. link