Safehold Inc. (NYSE: SAFE), the creator and leader of the modern ground lease industry, today announced the appointment of Michael Trachtenberg, a real estate industry veteran with more than two decades of operational experience, as President of the Company. In this role, Trachtenberg will oversee operations and execution across the business, working directly with Safehold's Chief Executive Officer Jay Sugarman.
"Michael is a sophisticated, results-driven operator with deep expertise in institutional real estate investment management," said CEO Jay Sugarman. "He joins at a time when the Company has a growing opportunity set, and property owners are increasingly recognizing the strategic and financial benefits of modern ground lease structures. With the mission-critical skillsets Michael brings, we are confident that he will help fuel Safehold's next stage of growth, revolutionizing real estate ownership and driving long-term value for our shareholders."
Trachtenberg joins Safehold from Lubert-Adler, a multibillion-dollar real estate fund manager, where he most recently served as President. He was a key member of the firm's senior leadership team involved in a wide range of real estate initiatives, including new investments, portfolio management, investor engagement and key operational functions.
SAFE shares ditched nine cents to $13.78.
