Safety Income and Growth Operating Partnership LP announced that it has entered into an investor unit purchase agreement with an existing investor, iStar Inc. (NYSE:STAR) for private placement of 12,500,000 units at an issue price of $20 per unit for gross proceeds of $250,000,000 on January 2, 2019. The units are not transferable in nature. The company has sought approval from the shareholders to convert units into common shares to be held not later by June 30, 2019. The securities issued are restricted in nature. The investor will acquire approximately 40.6% stake in the company on a fully diluted basis and own 65.8% stake upon closing.