Safehold Expands Boston Footprint with Samuels & Associates Partnership
Event summary
- Safehold closed a ground lease and leasehold loan in late December 2026.
- The deal supports the development of 299 Broadway, a 204-unit multifamily project in Somerville, MA.
- This marks Safehold’s first collaboration with Samuels & Associates and Mark Development, both Boston-based developers.
- Safehold’s portfolio now includes over 22,000 multifamily units across the US.
The big picture
Safehold’s entry into the Boston MSA, a competitive and high-growth market, signals an acceleration of its geographic expansion strategy. The partnership with Samuels & Associates and Mark Development suggests a targeted approach to securing deals with established local players. This move reinforces Safehold’s position as a key capital provider in the ground lease market, but also exposes it to increased scrutiny and potential competitive pressures within a concentrated geographic area.
What we're watching
- Relationship Dynamics
- The success of this partnership hinges on Safehold’s ability to integrate Samuels & Associates and Mark Development into its existing developer network, and whether this relationship expands beyond this single project.
- Market Saturation
- Increased competition in the Boston MSA could compress ground lease yields, requiring Safehold to demonstrate continued value creation to maintain margins.
- Capital Deployment
- The combination of ground lease and loan capital deployment may indicate a shift in Safehold’s strategy, and the pace at which this blended approach is adopted will reveal its long-term viability.
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