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Safe and Green Development Corporation (SG Devco) (NASDAQ: SGD) is a forward-thinking real estate development company established in 2021. The company specializes in the development of properties using purpose-built, prefabricated modules made from wood and steel. These modules are sourced from Safe & Green Holdings factories, allowing for efficient, sustainable, and innovative construction. SG Devco's mission is to develop resilient and eco-friendly single and multifamily projects that cater to all income and asset classes.
The company's flexible business model enables it to develop properties both independently and through strategic joint ventures with third-party equity investors or other developers. This adaptability has allowed SG Devco to remain a dynamic player in the ever-evolving real estate market.
SG Devco has achieved numerous milestones in 2024, demonstrating its strategic vision and operational excellence. Notable transactions include the anticipated sale of the St. Mary property and the Lago Vista parcel, both of which are expected to significantly bolster the company's financial position. Additionally, SG Devco has secured financing for the Norman Berry acquisition, further expanding its development portfolio.
In terms of technological innovation, SG Devco's majority-owned subsidiary, Majestic World Holdings LLC, has developed the XENE Home Platform. This prop-tech solution leverages advanced AI technology to create a decentralized real estate marketplace. The platform integrates banks, institutions, home builders, clients, agents, vendors, gig workers, and insurers into a seamless, AI-driven ecosystem. XENE aims to enhance value for real estate professionals and home buyers, offering a comprehensive suite of tools for optimized decision-making.
SG Devco recently acquired MyVONIA, an advanced AI assistant designed to simplify daily tasks and improve productivity for users. MyVONIA utilizes machine learning and natural language processing to provide personalized, human-like interactions via text messaging, eliminating the need for an app or website. The company has already integrated MyVONIA into the XENE platform, further enhancing its functionality and user experience.
SG Devco continues to make significant strides in the real estate industry, driven by strategic endeavors, technological advancements, and a robust development pipeline. The company's commitment to sustainable and innovative building practices positions it favorably for ongoing success.
Safe and Green Development (NASDAQ: SGD) has entered into a definitive agreement to acquire 100% of Resource Group US Holdings (RSG) for $480,000 in cash plus equity components. The deal includes 19% of SGD Restricted Common Stock at closing and a Convertible Note, together equaling 49% of SGD's outstanding shares.
RSG is a full-service organic recycling and compost technology company that transforms organic green waste into engineered soil products. The company holds exclusive North American rights to Microtec technology (valued at $10.5M) and operates from a Myakka City, FL facility appraised at $12.75M. RSG's logistics subsidiary has contracts worth $10.7M in potential revenue.
The transaction, expected to close in Q2 2025, will bring Index Investment Group as a significant shareholder, with co-founder Bjarne Borg joining SGD's board. The acquisition aims to strengthen SGD's balance sheet and add significant revenues through RSG's waste-to-value composting business.
Safe and Green Development (NASDAQ: SGD) has announced that all 5 homes from the first phase of its Sugar Joint Venture with Milk & Honey have been placed under contract. The properties, located in Edinburg and Weslaco, Texas, are set to close around April 11, 2025. Four homes in Edinburg are contracted at $195,000 each, while one property in Weslaco is under contract for $170,000.
The successful marketing was conducted in partnership with Madilyn Garza of Element Realty and Jose Lopez of the Opulent Real Estate Group. The company is proceeding with its next phase of 7 homes, expected to be market-ready by Q2 2025, maintaining progress toward their goal of completing 55 homes in 2025.
Safe and Green Development (NASDAQ: SGD) has announced that it believes it has met NASDAQ's stockholders' equity requirement under Listing Rule 5550(b), regaining compliance with continued listing standards. However, NASDAQ will continue monitoring SGD's ongoing compliance with the stockholders' equity requirement. The company could face potential delisting if it fails to maintain compliance in its next periodic report.
Safe and Green Development (NASDAQ: SGD) has announced that its subsidiary, LV Peninsula Holding , has signed a definitive agreement with Lithe Development Inc. to sell its Lago Vista property in Texas for $6.575 million. The property, located at 1900 American Drive, Lago Vista, Texas, is under contract with the Purchase Agreement signed on January 30, 2025. The transaction is expected to close by February 12, 2025, subject to final approvals and financing conditions.
CEO David Villarreal emphasized the company's commitment to unlocking shareholder value while advancing development projects across key markets. SGD aims to continue executing its vision through strategic asset management and real estate development projects focused on long-term growth.
Safe and Green Development (NASDAQ: SGD) has announced a significant financial restructuring with Safe & Green Holdings Corp (SGBX). The agreement involves SGD forgiving SGBX's obligations under a $908,322.95 promissory note from August 9, 2023, and $815,522 in intercompany advances (previously written off). In exchange, SGBX has forgiven $394,329 of inter-company debt owed by SGD and transferred 276,425 shares of SGD Common Stock to SGD.
The Company plans to hold these shares in treasury, and as a result of this transaction, SGBX will no longer be a stockholder of SGD. According to CEO David Villarreal, this resolution helps clean up their balance sheet, reduces outstanding shares, and potentially minimizes future dilution through the ability to reissue these shares in future transactions.
Safe and Green Development (NASDAQ: SGD) has announced significant progress in its Sugar Phase residential development project in South Texas. The company has closed on 22 lots for $440,000 and secured approximately $1,092,000 in financing for vertical construction. This development follows the initial phase of five homes already listed for sale.
The company plans to commence construction on seven new homes within 30 days of closing, with completion expected by early Q2 2025. Combined with existing projects, this will bring the total to 13 homes under construction in Q1 2025, aligning with SGD's target of completing 55 homes in 2025. The project aims to expand the availability of affordable and sustainable single-family homes in the South Texas region.
Safe and Green Development (NASDAQ: SGD) has announced that its first 5 homes from the Sugar Phase 1 development are approaching completion and have been listed for sale, with a combined listing price exceeding $1 million. The company has implemented a strategic approach considering regional housing affordability concerns, aiming to create value for both buyers and company objectives.
SGD is employing a multi-agent strategy alongside its in-house technology to market the properties. The company plans to enhance profit margins through partnerships offering mortgage services and downpayment assistance. All property listings are publicly available through Zillow and HAR platforms, with four properties located on Rio Red Circle in Edinburg, TX, and one on N Pino St in Weslaco, TX.
Safe and Green Development (NASDAQ: SGD) has outlined its development timeline for joint venture projects in Southern Texas from 2025 to 2027. Key developments include:
In 2025, SGD plans to complete 35 homes in Sugar Developments and finish sitework for 57 lots at Hacienda Olivia Phase II, with 20 homes planned for construction, targeting approximately 55 total home deliveries. Sitework for Hacienda Olivia Phase IV (113 lots) will begin in Q1 2025.
For 2026, the company aims to complete 37 homes in Hacienda Olivia Phase II and deliver 35 homes in Phase IV, targeting 72 total deliveries. Sitework for Phase III (77 lots) will commence in Q1 2026.
In 2027, SGD expects to complete 78 homes in Phase IV and deliver 22 homes in Phase III, targeting approximately 100 home deliveries.
Safe and Green Development (NASDAQ: SGD) shared its 2024 achievements and future plans. Key highlights include the $1.4 million sale of St. Mary's property to Pigmental Studios, generating $1.1 million in net proceeds. The company is developing its first phase of homes, with six units scheduled for completion by Q1 2025, projecting $1.2 million in revenue. SGD expanded its portfolio to approximately 250 single-family lots in the Rio Grande Valley through joint ventures.
The company secured a potential $10 million investment from Arena Global and regained NASDAQ compliance. SGD also partnered with Trio Residential and Allied Services Group for down payment assistance and mortgage services, while integrating technology through the acquisition of Majestic World Holdings for its proprietary portal, reav.homes.
Safe and Green Development (NASDAQ: SGD) has reached a 50% completion milestone for its Sugar Phase I project in South Texas. The single-family homes development project is scheduled for completion by Q1 2025. With this milestone, the company has launched its marketing campaign to sell the homes, utilizing a proprietary digital platform that integrates mortgage services and down payment assistance to streamline the homebuying process.
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