Safehold Inc

Good morning and welcome to Safehold's third quarter 2020 earnings conference call. If you need assistance during today's call, please press star zero. If you'd like to ask a question, please press one zero. That's one zero to ask a question. As a reminder, today's conference is being recorded. At this time, for opening remarks and introductions, I would like to turn the conference over to Jason Fuchs. Senior Vice President of Investor Relations and Marketing. Please go ahead, sir.

Good morning, everyone, and thank you for joining us today for Safehold's third quarter 2020 earnings call. On the call today, we have Jay Sugarman, Chairman and Chief Executive Officer, Marcus Alvarado, President and Chief Investment Officer, and Jeremy Foxkeen, Chief Financial Officer. This morning, we plan to walk through a presentation that details our third quarter 2020 results. The presentation can be found on our website at safeholdinc.com and by clicking on the investors link. There'll be a replay of this conference call beginning at 1 p.m. Eastern time today. The dial in for the replay is 866-207-1041 with the confirmation code of 991-9992. Before I turn the call over to Jay, I'd like to remind everyone that statements in this earnings call which are not historical facts may be forward-looking. Our actual results may differ materially from these forward-looking statements and the risk factors that could cause these differences are detailed in our SEC reports. Safehold disclaims any intent or obligation to update these forward-looking statements except as expressly required by law. Now with that, I'd like to turn the call over to our Chairman and CEO, Jay Sugarman. Jay?

Thanks Jason and thanks everyone for joining us today. While transaction activity during the third quarter remains slow and impacted by COVID, we have begun to see some signs the market is beginning to thaw. And we use the third quarter to focus on building a pipeline of transactions in our targeted asset classes and markets. While most of those efforts will show up in the fourth quarter and beyond, We are pleased at our progress in penetrating deeper into the multifamily space and using the innovative strengths of our platform to create entry points into target markets like San Jose, Seattle, and Philadelphia. It's been good to see everyone on our investment team busy and engaged in transactions again. It's also been good to see the safety of our ground leases once again highlighted, with 100% rent received during the quarter, and the strong growth in our earnings and revenue from the same quarter in 2019. As Safehold continues to expand its footprint across the country, we are seeing further evidence that the low cost long term capital provided by our modern ground lease can unlock value for building owners in a wide variety of situations. And low interest rates, together with our growing scale and increasingly efficient balance sheet, mean we can continue to drive pricing and open up even more of the market while generating strong and attractive returns for shareholders. With that as a backdrop, let me have Jeremy take you through earnings. Jeremy?