8-K
Safehold Inc. (SAFE)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 6, 2021
iStar Inc.
(Exact name of registrant as specified in its charter)
| | | |
|---|---|---|
| Maryland | 1-15371 | 95-6881527 |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
1114 Avenue of the Americas , 39th Floor
New York , New York **** 10036
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: ( 212 ) 930-9400
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| | | | |
|---|---|---|---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | |
| Common Stock, 0.001 par value | STAR | New York Stock Exchange | |
| 8.00% Series D Cumulative Redeemable Preferred Stock, 0.001 par value | STAR-PD | | New York Stock Exchange |
| 7.65% Series G Cumulative Redeemable Preferred Stock, 0.001 par value | STAR-PG | | New York Stock Exchange |
| 7.50% Series I Cumulative Redeemable Preferred Stock, 0.001 par value | STAR-PI | | New York Stock Exchange |
All values are in US Dollars.
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻
Item 8.01Other Events.
On July 6, 2021, iStar Inc. issued a press release announcing that it intends to explore market interest for possible sales of its net lease assets. There can be no assurance as to whether iStar will sell some, all or none of its net lease assets, or as to the timing and terms of any sales.
A copy of the press release is included as Exhibit 99.1 to this Report.
Item 9.01Financial Statements and Exhibits.
Exhibit 99.1Press release, dated July 6, 2021.
Exhibit 104Inline XBRL for the cover page of this Current Report on Form 8-K.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
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|---|---|---|---|
| | | | iStar Inc. |
| | | | |
| Date: | July 6, 2021 | By: | /s/ GARETT ROSENBLUM |
| | | | Garett Rosenblum |
| | | | Chief Accounting Officer |
| | | | (principal financial officer) |
Press Release
iStar Intends to Explore Market Interest for Its Net Lease Assets
NEW YORK, July 6, 2021
iStar Inc. (NYSE: STAR) announced today that it intends to explore market interest for possible sales of its net lease assets. The Company has engaged Eastdil Secured as an advisor in this process. There can be no assurance as to whether iStar will sell some, all or none of its net lease assets, or as to the timing and terms of any sales. iStar’s net lease portfolio includes assets that it owns directly and through joint ventures. The aggregate portfolio comprises 19 million square feet of institutional quality office, entertainment, and industrial properties located throughout the country.
●●●
iStar Inc. (NYSE: STAR) is focused on reinventing the ground lease sector, unlocking value for real estate owners throughout the country by providing modern, more efficient ground leases on institutional quality properties. As the founder, investment manager and largest shareholder of Safehold Inc. (NYSE: SAFE), the creator of the modern ground lease industry, iStar is using its national investment platform and its historic strengths in finance and net lease to expand the use of modern ground leases within the $7 trillion institutional commercial real estate market. Recognized as a consistent innovator in the real estate markets, iStar specializes in identifying and scaling newly discovered opportunities and has completed more than $40 billion of transactions over the past two decades. Additional information on iStar is available on its website at www.istar.com.
Company Contact:
Jason Fooks
Senior Vice President
1114 Avenue of the Americas
New York, NY 10036 T 212.930.9400 E investors@istar.com
Investor Relations & Marketing
T 212.930.9400
E investors@istar.com
1114 Avenue of the Americas
New York, NY 10036 T 212.930.9400
E investors@istar.com