Star Holdings amends margin loan, cuts Safehold share price trigger to $8.00
On October 9, 2026, subsidiary STAR Investment Holdings SPV LLC entered into Amendment No. 5 to its margin loan with Morgan Stanley, which had about $46.5 million outstanding before the amendment. The amendment lowers the share price trigger that would require mandatory prepayment from $10.00 to $8.00 for the Safehold common stock pledged as collateral, and it ends a $15.8 million undrawn delayed draw commitment. Because the lower trigger and loan-to-value changes affect when collateral and repayment obligations apply, shareholders should note the changed terms on the loan secured by Safehold shares.
Key points
- Share price trigger for mandatory prepayment cut from $10.00 to $8.00 per Safehold common share
- Delayed draw commitment of up to $15.8 million terminated; it was undrawn at the amendment date
- Loan had about $46.5 million principal outstanding before Amendment No. 5, secured by a first priority pledge of Safehold shares
- Amendment also lowers loan-to-value ratios that trigger additional collateral posting or permit collateral release requests
The filing
Written by AI on Nov 9, 2026, 11:44 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 09, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.