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Safehold | The Ground Lease Company | February 2024
Balance Sheet
APPENDIX
Note: Figures in thousands.
As of December 31, 2023 As of December 31, 2022
Assets:
Net investment in sales-type leases $3,255,195 $3,106,599
Ground Lease receivables, net 1,622,298 1,374,716
Real estate:
Real estate, at cost 744,337 740,971
Less: accumulated depreciation (40,400) (34,371)
Real estate, net 703,937 706,600
Real estate-related intangible assets, net 211,113 217,795
Real estate available and held for sale 9,711 -
Total real estate, net, real estate-related intangible assets, net and real
estate available and held for sale 924,761 924,395
Loans receivable, net - related party 112,111 -
Equity investments 310,320 180,388
Cash and cash equivalents 18,761 20,066
Restricted cash 27,979 28,324
Deferred tax assets, net 7,619 -
Deferred operating lease income receivable 180,032 148,870
Deferred expenses and other assets, net 89,238 67,564
Total assets $6,548,314 $5,850,922
Liabilities:
Accounts payable, accrued expenses, and other liabilities $134,518 $100,357
Real estate-related intangible liabilities, net 63,755 64,591
Debt obligations, net 4,054,365 3,521,359
Total liabilities $4,252,638 $3,686,307
Redeemable noncontrolling interests $19,011 $19,011
Equity:
Safehold Inc. shareholders' equity:
Common stock $711 $624
Additional paid-in capital 2,184,299 1,986,417
Retained earnings 47,580 151,226
Accumulated other comprehensive income (loss) (1,337) 3,281
Total Safehold Inc. shareholders' equity $2,231,253 $2,141,548
Noncontrolling interests $45,412 $4,056
Total equity $2,276,665 $2,145,604
Total liabilities, redeemable noncontrolling interests and equity $6,548,314 $5,850,922 |