SAFE AND GREEN DEVELOPMENT CORPORATION EXECUTES CONTRACT FOR $6.575 MILLION SALE OF LAGO VISTA PROPERTY
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) ha annunciato che la sua sussidiaria, LV Peninsula Holding, ha firmato un accordo definitivo con Lithe Development Inc. per vendere la sua proprietà Lago Vista in Texas per 6,575 milioni di dollari. La proprietà, situata a 1900 American Drive, Lago Vista, Texas, è sotto contratto con il Contratto di Acquisto firmato il 30 gennaio 2025. Si prevede che la transazione si chiuda entro il 12 febbraio 2025, soggetta ad approvazioni finali e condizioni di finanziamento.
Il CEO David Villarreal ha sottolineato l'impegno dell'azienda a sbloccare valore per gli azionisti mentre avanza nei progetti di sviluppo nei mercati chiave. SGD punta a continuare a realizzare la sua visione attraverso la gestione strategica degli attivi e progetti di sviluppo immobiliare concentrati sulla crescita a lungo termine.
Safe and Green Development (NASDAQ: SGD) ha anunciado que su subsidiaria, LV Peninsula Holding, ha firmado un acuerdo definitivo con Lithe Development Inc. para vender su propiedad Lago Vista en Texas por 6.575 millones de dólares. La propiedad, ubicada en 1900 American Drive, Lago Vista, Texas, está bajo contrato con el Acuerdo de Compra firmado el 30 de enero de 2025. Se espera que la transacción se cierre para el 12 de febrero de 2025, sujeta a aprobaciones finales y condiciones de financiamiento.
El CEO David Villarreal enfatizó el compromiso de la empresa de desbloquear valor para los accionistas mientras avanza en proyectos de desarrollo en mercados clave. SGD tiene como objetivo continuar ejecutando su visión a través de la gestión estratégica de activos y proyectos de desarrollo inmobiliario enfocados en el crecimiento a largo plazo.
세이프 앤 그린 개발 (NASDAQ: SGD)는 그 자회사인 LV Peninsula Holding이 Lithe Development Inc.와 텍사스의 Lago Vista 부동산을 6575만 달러에 판매하기 위한 최종 계약을 체결했다고 발표했습니다. 이 부동산은 2025년 1월 30일에 서명된 구매 계약에 따라 텍사스 Lago Vista, 1900 American Drive에 위치하고 있습니다. 거래는 최종 승인 및 자금 조달 조건에 따라 2025년 2월 12일까지 마무리될 예정입니다.
CEO David Villarreal은 주요 시장 전반에 걸쳐 개발 프로젝트를 진행하면서 주주 가치를 주도적으로 창출하겠다는 회사의 의지를 강조했습니다. SGD는 장기적인 성장을 목표로 하는 부동산 개발 프로젝트와 전략적 자산 관리 등을 통해 비전을 지속적으로 실행해 나갈 계획입니다.
Safe and Green Development (NASDAQ: SGD) a annoncé que sa filiale, LV Peninsula Holding, a signé un accord définitif avec Lithe Development Inc. pour vendre sa propriété Lago Vista au Texas pour 6,575 millions de dollars. La propriété, située au 1900 American Drive, Lago Vista, Texas, est sous contrat avec le contrat d'achat signé le 30 janvier 2025. La transaction devrait être finalisée d'ici le 12 février 2025, sous réserve des approbations finales et des conditions de financement.
Le PDG David Villarreal a souligné l'engagement de l'entreprise à débloquer de la valeur pour les actionnaires tout en faisant avancer des projets de développement dans des marchés clés. SGD vise à continuer à exécuter sa vision à travers une gestion stratégique des actifs et des projets de développement immobilier concentrés sur une croissance à long terme.
Safe and Green Development (NASDAQ: SGD) hat bekannt gegeben, dass ihre Tochtergesellschaft, LV Peninsula Holding, eine endgültige Vereinbarung mit Lithe Development Inc. unterzeichnet hat, um ihr Lago Vista Grundstück in Texas für 6,575 Millionen Dollar zu verkaufen. Die Immobilie befindet sich in der 1900 American Drive, Lago Vista, Texas, und ist mit dem am 30. Januar 2025 unterzeichneten Kaufvertrag unter Vertrag. Der Abschluss der Transaktion wird bis zum 12. Februar 2025 erwartet, vorbehaltlich der endgültigen Genehmigungen und Finanzierungsbedingungen.
CEO David Villarreal betonte das Engagement des Unternehmens, den Wert für die Aktionäre zu steigern, während es Entwicklungsprojekte in wichtigen Märkten vorantreibt. SGD beabsichtigt, seine Vision durch strategisches Asset-Management und Immobilienentwicklungsprojekte, die auf langfristiges Wachstum ausgerichtet sind, weiterhin umzusetzen.
- Sale of Lago Vista property for $6.575 million, generating immediate revenue
- Strategic asset monetization aligned with shareholder value creation
- None.
Insights
The announced
The rapid closing timeline (signed January 30 with expected closing by February 12) suggests several positive indicators:
- A well-structured deal with minimal contingencies
- A qualified buyer with likely pre-arranged financing
- Clean title and due diligence concerns
The Lago Vista market, situated in the greater Austin metro area, has been experiencing steady growth, making this an opportune time for monetization. The transaction appears strategically timed to capitalize on strong market conditions while providing SGD with substantial capital for future development projects.
Most notably, this deal could provide SGD with significant operational flexibility and enhanced financial capabilities. The influx of capital, representing a multiple of their market value, positions the company to potentially:
- Reduce debt obligations
- Fund new development opportunities
- Strengthen their balance sheet
- Support strategic growth initiatives
The execution of this sale aligns with management's stated strategy of enhancing shareholder value through strategic asset management, potentially marking the beginning of a more aggressive growth phase for the company.
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
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
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SOURCE Safe and Green Development Corporation
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