Thank and you, Jay, good morning, everyone.
a quarter the of X. Let's on Slide start with summary
was the conventional line During with new $XXX including the were they $XX housing X X markets assets, quarter, the across with multifamily, ground for ground and located for and leasehold leases, were metrics multifamily different X Of credit million. partner and reached X loan new X sponsors. million origination $XX was leases Ground million, our X in an portfolio rent we an X student in including lease of X interest X with ownership were activity the price purchase targets of of X.X%.
Also was acquired million. commitments, quarter, agreement leases venture the date. by The third XX%, coverage to total in with a deals, X.Xx forward ground JV yield GLTV $XX the purchase their economic to of our
capital created is X.X% the to an purchase work price yield, This net funded but already opportunities, put capital deals also without third million. frees was in early new origination participation closed. when right originated quarter, transaction we attractive in our asset additional than an are $XX which the at ground already the the partners' in which in figures, closed in included the a opportunity up of that Excluding It place, were additional certain will originally deals the venture, expired cheaper of lease end in September. which cost at remain to by capacity in
opportunities was $XX UCA smaller-sized on JV by capacity liquidity, We $X.X supported ended expect that a provides X was deals. that funded the billion, to million growth. million X.Xx. to economic was joint purchase third the quarter a of including economics and in $XXX commitments XX% on we pre-existing is of originations At portfolio potential yield, the snapshot X.X% a X.X% of $XXX total leases quarter, portfolio In that will Safehold yield. and QX quarter focus our coverage of GLTV the lease at partners' We $X.X have which our investment ground of larger yield X.X% X available billion, economic moving and in million XXX% rent own was a $XX Slide million, of $XX interest our economic estimated end, JV in approximately a million new that the further ground the fundings forward with venture. have total have
our XXx.
Multifamily and has new estimated originations. for our has our above grown since the portfolio capital XXX remains grown Our sitting focus while primary unrealized ground assets IPO, has appreciation leases ground lease XXx
portfolio count We is appreciation commercial comprised total, capital have feet have XX% ground increased In unrealized approximately exposure to XX leases of today. multifamily institutional at from square XX IPO portfolio let quality the by million our X% in XX,XXX million approximately and of of hotel life real and types. feet X,XXX office, X, square XX.X our million science detail property units, results. of other on me Continuing and earnings Slide estate, of X keys consisting square the over quarterly multifamily feet
non-cash the a million general was million, million for year-over-year quarter. of significant driven year $XX.X was million per $XX.X earnings X earnings revenue expense quarter, third $XXX.X The non-cash income credit impairment net this the share primarily provision taken losses in $X.X $X.XX. offset goodwill taken For was GAAP increase by ago, was and by
we way investments many that better methodology risk. view This provision quarter, and credit general constituents credit related and our the a believe we our we for how of refined reflects in attributes losses
have we long-term discussed, previously high credit believe rated have bonds. to similar ground our profile a leases we risk As
added now layer an period us methodology apply have the macroeconomic change sets to that for methodology top we of GAAP addition of robust any changes. that already in data those So requires on to GLTV to balances. additional of data instruments focuses performance tracks prior large on our long-term
$X.X general provision unconsolidated period took non-cash to So balances. based on for cumulative addition in general of Of $X.X this million which an approximately million million equity methodology, non-cash prior approximately to this QX consolidated for using $XXX,XXX, our was provision provision assets total quarter, million this enhanced general credit within we $X.X attributed $X.X to and was earnings from method represented is assets, investments. losses, attributed
items. and prior capture third When to credit expect our provision period general we both goodwill to XXXX the quarter that we way reconciling reserves well as grow, provision non-cash as continues for is impairment portfolio and the viewing balances non-cash last we as year-over-year for believe on performance, general the portfolio. As methodology losses deem allowance this appropriate increase, to an year's
additional from the approximately the approximately $X.X have from approximately in fee, year.
On funding and Star $X.X loans growth, G&A This XX% by net repaid due aforementioned fundings savings portfolio's interest the offset driven up Slide $X.XX less million expense items, last year-over-year. leases $X.XX these million been earnings was management the investments, investment asset-related or an method we and net million increase that Excluding ground for rent EPS our Holdings primarily revenue on of over $X.X less detail quarter, X, by was leasehold in equity yields. to
at value all yield. rent a an yield economic yield rent, yield includes underwritten is For depreciation economic unrealized capital yield, noncash unrealized capital ground how which generates Federal is rate the yield. X.X% methodology estimate increases breakeven adjustments X.X% the fair for That has amortization, today. most and are inflation X.X% X.X% largely or that of of GAAP primarily annualized yield market our the our appreciation which for escalators, IPO the $X such from but lookbacks, economic assets these portfolio that conforms additional of to earnings, in an a after as valuation. inflation significant appreciation using currently leases. a investments. basis, interest XX% we a inflation drivers.
On Annualized X.XX%, assets, yield Reserve's Using X.X% adjusted contractual current future believe periodic source the which calculation portfolio resets, rent, increases we've and recent We market in long-term including significant earns IRR-based economic the by XX% X.X% variable unrecognized This then all to an accounting which adjusted upside, have to a in cash percentage ownership and billion in economic be CPI-based value remains layering CPI excludes within Safehold's Caret company X.X% its of
diversification portfolio X. property to highlight Slide Turning our by location and type. of We underlying the
out XX and type. portfolio. for GLTVs to include right, to quarter representing book annual existing originations. new on up called value these additional at by GLTV property to region at CBRE, Our from of we of was gross slightly Rent the were on declines portfolio rounding each down detail on coverage X.Xx. third as lower on the as have previously based to We are appraisals page such XX% bottom the the asset top unchanged is X.Xx which metrics markets, GLTV, Portfolio declined in rounding the by by approximately from from markets key rent quarter-over-quarter the appraisals offset now of very and assets coverage XX% modest and
ground benefit top and in continue periods risk-adjusted company investing well-located over have that the believe We XX long returns stakeholders of leases in time. markets attractive will that quality its institutional the to
X, had of $X.X Lastly, third comprised of the overview debt, the provide of billion quarter, of $X.X capital At we of we on billion end unsecured Slide structure. our drawn we notes, an on nonrecourse own in $X.XX of our debt, billion billion debt ground unsecured which joint of leases, million share revolver of ventures. $X.X $XXX on pro-rata and our secured approximately
have maturity years, XXXX. we and is due quarter of $XXX
At weighted Our and average cash facility million we debt maturities end, XX until approximately corporate availability. no had credit approximately
revolver Moody's to balance fixed produced outlook at of the savings payments third Fitch. through the that on month. current $X.XX We million We cash Our $X stable with outstanding, with P&L. is $XXX Of at at for received positive that SOFR swapped BBB+ through borrowings. billion on rate cash April well outlook the basis a remain ratings nearly And floating limited million each quarter, our credit X% swap interest and AX hedged are XXXX. flowed
so locks treasury long-term rates which at position have a million. X.XX%, approximately rate month. P&L. mark-to-market at each approximately also cash other $XXX $XX treasury locks treasury do on our gain they these of not current are recognize We are in of no changes These million sheet while average weighted a is of instruments, in gains income, hands balance yet we and And the comprehensive recognized
previously point prior. these their of also As can mentioned, utilized at be while cash unwound any be through term, for can they the hedges end designated
term continue revolving help So completed market to Issuance over we part line. our a as the versus debt, unwind quarter this P&L we the use third to basis quarter will and our the ability which look through we flow facility look the during once our QX have began using had we point program cost, bottom credit borrowings then thereafter. earnings to to filings. our with nearly the out commercial of revolver paper savings XX would the long-term hedges, we
Separately, to
a We on interest permanent debt is portfolio's effective X.XXx are debt-to-equity the total basis. is debt interest cash on rate X.X%. on and permanent rate The levered X.X%
of signs sheet positioned that cost commercial capital to months. respond investment opportunities. the are market is favorably recent strong is Safehold and well seen So ample to transaction in a capture our reopening, there the back tighter Jay. estate be still We've believe customers a all balance it conclude, in bond And while business to liquidity real spreads and we there stock that, and the and is more in work new puts grow of to competitive business. with to us me turn improving And our position fairly let with getting price done components serve more an accretively valued,
