Safehold Inc. completed the purchase of the existing ground lease under the Alohilani Resort in Waikiki Beach, Honolulu, for $195 million.
The real estate investment trust also completed an agreement with the owner of the hotel leasehold to convert the ground lease into a new Safehold ground lease. The conversion, being carried out as part of the REIT's SAFE x SWAP program, helps real estate investors restructure outdated ground leases into a more modern framework that unlocks value.
