Sidley Advises Safehold on Its 20th Affordable Housing Ground Lease ― Their First in Texas

Sidley advised Safehold on their closing of a ground lease for the development of an Affordable Housing community in Austin, Texas. The Low-Income Housing Tax Credit development will provide 348 total units to the Southeast Austin community. The project will be developed by The NRP Group and is expected to be completed in 2028.

The transaction represents Safehold’s 20th ground lease in the LIHTC sector and their first in Texas. Sidley has advised Safehold on all of their previous ground lease transactions. Safehold has continued to expand their Affordable Housing business and help developers fill capital structure gaps and move projects forward. Safehold is a REIT and leader in the ground lease industry across the United States.

The Sidley team was led by Steven Koppel and Samuel Goldstein, with assistance from Jared Feldman (Real Estate).