--- title: "Is Safehold (SAFE) Quietly Recasting Its Multifamily Strategy Through Austin Affordable Housing Ground Leases?" type: "News" locale: "en" url: "https://longbridge.com/en/news/291064672.md" description: "Safehold Inc. closed a ground lease for a 336-unit affordable housing development in Austin, Texas, scheduled for 2028 delivery. This marks its second deal with The NRP Group this year and supports Safehold's dedicated Affordable Housing push since 2025. The transaction highlights the company's growing role in financing income-restricted multifamily projects through ground leases, reinforcing its investment narrative focused on scalable, income-focused real estate financing." datetime: "2026-06-28T19:51:52.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291064672.md) - [en](https://longbridge.com/en/news/291064672.md) - [zh-HK](https://longbridge.com/zh-HK/news/291064672.md) --- # Is Safehold (SAFE) Quietly Recasting Its Multifamily Strategy Through Austin Affordable Housing Ground Leases? - Safehold Inc. recently closed a ground lease for a Low-Income Housing Tax Credit development in northeast Austin, Texas, supporting a 336-unit affordable housing community scheduled for delivery in 2028 and developed by The NRP Group, with tax credit equity from Huntington Bank and financing arranged by Berkadia. - This transaction, Safehold’s second Austin deal with NRP this year and part of its dedicated Affordable Housing push since 2025, underscores the company’s growing role in financing income-restricted multifamily projects through ground leases. - We’ll now examine how this latest Austin affordable housing ground lease influences Safehold’s investment narrative and growing focus on resilient multifamily exposure. Rare earth metals are the new gold rush. Find out which 30 stocks are leading the charge. ## Safehold Investment Narrative Recap To own Safehold, you need to believe in its ground lease model as a scalable, income-focused way to finance real estate while managing credit risk and capital costs. The new Austin LIHTC ground lease modestly supports the near term catalyst of growing multifamily exposure, but does not materially change the main risk that macro volatility and slower development could still limit ground lease originations and revenue growth. The most relevant recent announcement here is Safehold’s June 15, 2026 dividend affirmation at US$0.177 per share for the quarter, continuing a steady payout pattern. For income-focused shareholders, this Austin affordable housing deal sits alongside that dividend consistency as part of the same question: can Safehold keep adding attractive, resilient ground leases fast enough to support earnings and the current yield if development timing stays uneven? Yet against this backdrop, the growing regulatory and political risk around affordable and multifamily housing is something investors should be aware of as... Read the full narrative on Safehold (it's free!) Safehold's narrative projects $447.4 million revenue and $141.4 million earnings by 2029. This requires 3.4% yearly revenue growth and a $26.9 million earnings increase from $114.5 million today. Uncover how Safehold's forecasts yield a $20.09 fair value, a 22% upside to its current price. ## Exploring Other Perspectives SAFE 1-Year Stock Price Chart Some of the lowest analysts were only expecting about 2 percent annual revenue growth and earnings near US$131.9 million by 2029, so if you worry about delayed originations and uneven LIHTC deal flow, their more cautious view highlights how far expectations can vary and why this new Austin project could eventually shift both the optimistic and pessimistic stories. Explore 4 other fair value estimates on Safehold - why the stock might be worth as much as 70% more than the current price! ## Decide For Yourself Don't just follow the ticker - dig into the data and build a conviction that's truly your own. - A great starting point for your Safehold research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision. - Our free Safehold research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Safehold's overall financial health at a glance. ## Ready For A Different Approach? Every day counts. These free picks are already gaining attention. See them before the crowd does: - We've uncovered the 8 dividend fortresses yielding 5%+ that don't just survive market storms, but thrive in them. - Outshine the giants: these 15 early-stage AI stocks could fund your retirement. - Find 44 companies with promising cash flow potential yet trading below their fair value. _This article by Simply Wall St is general in nature. **We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.** It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned._ ### **New:** Manage All Your Stock Portfolios in One Place We've created the **ultimate portfolio companion** for stock investors, **and it's free.** • Connect an unlimited number of Portfolios and see your total in one currency • Be alerted to new Warning Signs or Risks via email or mobile • Track the Fair Value of your stocks Try a Demo Portfolio for Free ### Related Stocks - [SAFE.US](https://longbridge.com/en/quote/SAFE.US.md) - [HBAN.US](https://longbridge.com/en/quote/HBAN.US.md) ## Related News & Research - [Waymo Says It Expects No Special Treatment After Its Austin Robotaxis Accumulate More Than $9,000 in Parking Fines](https://longbridge.com/en/news/293934411.md) - [REG - Residential Secure - Holding(s) in Company](https://longbridge.com/en/news/294037821.md) - [13:47 ETPEARLSTONE PARTNERS AND VICEROY ANNOUNCE VICEROY RESIDENCES AUSTIN, THE BRAND'S FIRST TEXAS RESIDENTIAL OFFERING](https://longbridge.com/en/news/293505459.md) - [12:35 ET53 West 53 Earns VERIFIED™ Luxury Residences Designation from Forbes Travel Guide](https://longbridge.com/en/news/294235115.md) - [First Horizon adds Kevin Farrell, Corey Kistka as managing directors in loan syndications expansion](https://longbridge.com/en/news/293947583.md)