Safehold Inc. (NYSE:SAFE) Q2 2023 Earnings Conference Call August 1, 2023 5:00 PM ET

Company Participants

Pearse Hoffmann – Senior Vice President-Capital Markets and Investor Relations

Jay Sugarman – Chairman and Chief Executive Officer

Marcos Alvarado – President and Chief Investment Officer

Brett Asnas – Chief Financial Officer

Conference Call Participants

Nate Crossett – BNP Paribas

Haendel St. Juste – Mizuho

Anthony Paolone – JPMorgan

Harsh Hemnani – Green Street

Ki Bin Kim – Truist

Matthew Howlett – B. Riley

Operator

Good afternoon, and welcome to Safehold’s Second Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder, today’s conference is being recorded.

At this time, for opening remarks and introductions, I would like to turn the conference over to Pearse Hoffmann, Senior Vice President of Capital Markets and Investor Relations. Please go ahead, sir.

Pearse Hoffmann

Good afternoon, everyone. Thank you for joining us today for Safehold’s earnings call. On the call today, we have Jay Sugarman, Chairman and Chief Executive Officer; Marcos Alvarado, President and Chief Investment Officer; and Brett Asnas, Chief Financial Officer.

This afternoon, we plan to walk through a presentation that details our second quarter 2023 results. The presentation can be found on our website at safeholdinc.com by clicking on the Investors link. There will be a replay of this conference call beginning at 8:00 p.m. Eastern Time today. The dial-in for the replay is 877-481-4010 with a confirmation code of 48759.

Before I turn the call over to Jay, I’d like to remind everyone that statements in this earnings call, which are not historical facts, may be forward-looking. Our actual results may differ materially from these forward-looking statements, and the risk factors that could cause these differences are detailed in our SEC reports. Safehold disclaims any intent or obligation to update these forward-looking statements, except as expressly required by law.

Now with that, I’d like to turn it over to Chairman and CEO, Jay Sugarman. Jay?

Jay Sugarman

Thanks, Pearse, thanks to everyone for joining us today. With the merger now behind us the second quarter was an opportunity to begin focusing on the capital needs of our customers and begin building a deal pipeline in this higher rate environment. The market remains tougher than normal with liquidity from banks still constrained and higher rates and higher cap rates, making transactions more difficult. But we continue to look for ways to help our customers access our modern ground lease capital across all our product lines.