MIAMI, Feb. 4, 2025
/PRNewswire/ -- Safe and Green Development Corporation (NASDAQ:
SGD) ("SGD" or the "Company") is pleased to announce
that its subsidiary, LV Peninsula Holding LLC, has entered into a
definitive agreement (the "Purchase Agreement") with Lithe
Development Inc. for the sale of one of its Lago Vista projects located at 1900 American
Drive, Lago Vista, Texas 78645.
The agreed-upon purchase price for the property is $6.575 million.
The Purchase Agreement was signed on January 30, 2025, and the closing is
expected to take place on or before February
12, 2025, subject to final approvals and financing
conditions necessary to complete the transaction.
"We remain committed to unlocking value for our shareholders
while continuing to advance our development projects across key
markets."said David
Villarreal, CEO of Safe and Green Development
Corporation.
SGD intends to continue to execute its vision of enhancing
shareholder value through strategic asset
management and real estate development projects that
drive long-term growth.
About Safe and Green Development Corporation (SG
Devco)
Safe and Green Development Corporation is a real estate
development company. Formed in 2021, it focuses primarily on the
direct acquisition and indirect investment in properties nationally
that will be further developed in the future into green single or
multi-family projects. Additionally, a wholly owned subsidiary of
SG DevCo, Majestic World Holdings LLC, is a prop-tech company
that has created a real estate AI Platform the Company uses to
strategically increase the margins on homes sold by facilitating
mortgage services and down payment assistance. MyVONIA Innovations
LLC, a wholly owned subsidiary, is the owner of MyVONIA which is an
AI-powered personal assistant designed to help simplify daily tasks
and improve productivity for individuals and businesses.
Safe Harbor Statement
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 as amended
and Section 21E of the Securities Exchange Act of 1934 as amended.
All statements other than statements of historical fact are or may
be deemed to be forward-looking statements. In some cases
forward-looking statements can be identified by terminology such as
"may," "should," "potential," "continue," "expects," "anticipates,"
"intends," "plans," "believes," "estimates" and similar expressions
and include statements regarding closing the sale for the
Lago Vista property on or before
February 12, 2025, unlocking value
for shareholders while continuing to advance the Company's
development projects across key markets, enhancing shareholder
value through strategic asset management and real estate
development projects that drive long-term growth using Majestic
World Holdings LLC's real estate AI Platform to strategically
increase the margins on homes sold by facilitating mortgage
services and down payment assistance and MyVONIA simplifying daily
tasks and improve productivity for individuals and businesses.
These forward-looking statements are based on certain
assumptions and analyses made by us in light of our experience and
our perception of historical trends, current conditions, and
expected future developments, as well as other factors we believe
are appropriate in the circumstances. Important factors that could
cause actual results to differ materially from current expectations
include, among others, the Company's ability to close the sale for
the Lago Vista property as planned, the Company's ability to
enhance shareholder value through strategic asset management and
real estate development projects that drive long-term growth,
the Company's ability to use Majestic World Holdings LLC's real
estate AI Platform to strategically increase the margins on homes
sold by facilitating mortgage services and down payment assistance,
and other factors discussed in the Company's Annual Report on Form
10-K for the year ended December 31,
2023, and its subsequent filings with the SEC. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. All
forward-looking statements are qualified in their entirety by this
cautionary statement, and the Company undertakes no obligation to
revise or update this press release to reflect events or
circumstances after the date hereof.
For investor relations and media inquiries, please
contact:
Barwicki Investor Relations
Andrew@Barwicki.com
516-662-9461
View original
content:https://www.prnewswire.com/news-releases/safe-and-green-development-corporation-executes-contract-for-6-575-million-sale-of-lago-vista-property-302367497.html
SOURCE Safe and Green Development Corporation
