Safehold Arranges $26.5M Ground Lease for Multifamily Development in South Salt Lake, Utah

SOUTH SALT LAKE, UTAH — Safehold (NYSE: SAFE) has arranged a $26.5 million ground lease to facilitate the ground-up development of One Burton, an apartment community in South Salt Lake’s new downtown district.

Abstract Development Group, an affiliate of a New York-based multifamily real estate owner, will develop the 180-unit community within a Qualified Opportunity Zone.