Safe and Green Development Corporation Sells St Mary's for $1.4M
Safe and Green Development (NASDAQ: SGD) has sold its St Mary's Property to Pigmental Studios for $1.4 million, generating net proceeds of approximately $1.1 million. The sale, completed on November 18, 2024, aligns with the company's strategy to monetize real estate holdings that have appreciated in value. The transaction will help reduce debt and strengthen the company's cash position. SGD is also evaluating offers for its Lago Vista Parcel, with recent offers reportedly exceeding the original purchase price. The buyer, Pigmental Studios, partnered with Holley Capital for the purchase, and both companies are exploring future collaboration on building development options.
Safe and Green Development (NASDAQ: SGD) ha venduto la sua proprietà di St Mary a Pigmental Studios per 1,4 milioni di dollari, generando proventi netti di circa 1,1 milioni di dollari. La vendita, completata il 18 novembre 2024, si allinea con la strategia dell'azienda di monetizzare i beni immobili che hanno aumentato di valore. La transazione contribuirà a ridurre il debito e rafforzare la posizione di liquidità dell'azienda. SGD sta inoltre valutando offerte per il suo appezzamento di Lago Vista, con offerte recenti che superano il prezzo di acquisto originale. L'acquirente, Pigmental Studios, ha collaborato con Holley Capital per l'acquisto e entrambe le aziende stanno esplorando future collaborazioni su opzioni di sviluppo edilizio.
Safe and Green Development (NASDAQ: SGD) ha vendido su propiedad de St Mary a Pigmental Studios por 1,4 millones de dólares, generando ingresos netos de aproximadamente 1,1 millones de dólares. La venta, completada el 18 de noviembre de 2024, se alinea con la estrategia de la compañía de monetizar los bienes raíces que han apreciado en valor. La transacción ayudará a reducir la deuda y fortalecer la posición de efectivo de la empresa. SGD también está evaluando ofertas por su parcela de Lago Vista, con ofertas recientes que superan el precio de compra original. El comprador, Pigmental Studios, se asoció con Holley Capital para la compra y ambas compañías están explorando futuras colaboraciones en opciones de desarrollo urbano.
Safe and Green Development (NASDAQ: SGD)는 St Mary's Property를 Pigmental Studios에 140만 달러에 판매하여 약 110만 달러의 순수익을 생성했습니다. 2024년 11월 18일 완료된 이 판매는 회사의 부동산 자산을 수익화하려는 전략에 부합합니다. 이번 거래는 부채를 줄이고 회사의 현금 위치를 강화하는 데 도움이 될 것입니다. SGD는 또한 Lago Vista Parcel에 대한 제안을 평가하고 있으며, 최근 제안들이 원래 구매 가격을 초과했다고 전해졌습니다. 구매자인 Pigmental Studios는 Holley Capital과 협력하여 구매하였으며, 두 회사는 건물 개발 옵션에 대한 미래 협력을 탐색하고 있습니다.
Safe and Green Development (NASDAQ: SGD) a vendu sa propriété de St Mary à Pigmental Studios pour 1,4 million de dollars, générant des produits nets d'environ 1,1 million de dollars. La vente, finalisée le 18 novembre 2024, s'inscrit dans la stratégie de l'entreprise de monétiser des actifs immobiliers ayant pris de la valeur. La transaction contribuera à réduire la dette et à renforcer la position de liquidité de l'entreprise. SGD évalue également des offres pour son terrain de Lago Vista, avec des offres récentes rapportées comme dépassant le prix d'achat d'origine. L'acheteur, Pigmental Studios, s'est associé à Holley Capital pour l'achat et les deux entreprises explorent une future collaboration sur des options de développement immobilier.
Safe and Green Development (NASDAQ: SGD) hat seine St. Marys-Immobilie für 1,4 Millionen Dollar an Pigmental Studios verkauft und dabei Nettoproceduren von etwa 1,1 Millionen Dollar erzielt. Der Verkauf, der am 18. November 2024 abgeschlossen wurde, entspricht der Strategie des Unternehmens, Immobilienbestände zu monetarisieren, die an Wert gewonnen haben. Die Transaktion wird helfen, die Schulden zu reduzieren und die Liquiditätsposition des Unternehmens zu stärken. SGD bewertet auch Angebote für sein Lago Vista Parcel, wobei zuletzt Angebote eingegangen sein sollen, die den ursprünglichen Kaufpreis übertreffen. Der Käufer, Pigmental Studios, hat sich für den Kauf mit Holley Capital zusammengetan und beide Unternehmen erkunden zukünftige Kooperationen im Bereich der Bauentwicklung.
- Sale of St Mary's Property for $1.4M with $1.1M in net proceeds
- Debt reduction and improved cash position from sale proceeds
- Potential higher value realization from Lago Vista Parcel offers
- Ongoing collaboration opportunity with buyer for future development
- Reduction in real estate asset portfolio
Insights
The
The ongoing evaluation of the Lago Vista Parcel, with offers reportedly exceeding purchase price, suggests additional near-term monetization opportunities. The collaboration with Pigmental Studios on future building projects could generate additional revenue streams. This transaction pattern indicates a shift from passive property holding to active value realization, which could improve return on assets and create shareholder value.
The strategic partnership aspect with Pigmental Studios for future development projects is particularly noteworthy. The 114-acre Creation & Technology Campus development presents potential recurring revenue opportunities through building contracts. St. Marys' emerging status as a business and tourist destination adds value proposition to future developments in the area.
The company's ability to capitalize on market appreciation while maintaining involvement in future development phases demonstrates sophisticated asset management. This hybrid approach - monetizing appreciated assets while securing future development opportunities - could provide both immediate returns and long-term growth potential.
The property was sold as part of the Company's previously announced goal to strategically monetize some of its real estate holdings that have increased in value. This sale will help reduce debt and increase the Company's cash position. Additionally, the Company continues to evaluate offers on its Lago Vista Parcel, the most recent of which far exceeded the price paid by the Company. The Company will continue to pursue this strategy as a means of raising capital to spur its growth and advance other real estate projects. Moreover, the closing of the sale supports the previously appraised values of the Company's real estate.
"The sale of St Mary's is a milestone that exemplifies the value of our real estate holdings" said David Villarreal, CEO of SG Devco. "We are happy to sell and capitalize on the increase in the value on this parcel which will allow us to move forward on other real estate properties and various projects that we are developing."
The buyer, Pigmental Studios, partnered with Holley Capital, LLC to purchase the parcel. SG Devco and Pigmental Studios are actively engaged in reviewing building options that SG Devco can provide as part of the overall development.
Marcus Holley, of Holley Capital LLC, said, "We see
Marina Martins, CEO of Pigmental Studios said, "After closing on this parcel, Pigmental Studios has all 114 acres of property firmly in hand which is a good reason to celebrate and gets us another major leap closer to the actualization of the Pigmental Studios Creation & Technology Campus in
About Safe and Green Development Corporation (SG Devco)
Safe and Green Development Corporation is a real estate development company. Formed in 2021, it focuses on the development of sites using purpose-built, prefabricated modules built from both wood and steel. The thesis of development is to build strong, innovative and green, single or multifamily projects across all income and asset classes. Additionally, a majority owned subsidiary of SG DevCo, Majestic World Holdings LLC, is a prop-tech company that has created a real estate AI Platform. The Platform aims to decentralize the real estate marketplace, creating an all-in-one solution that brings banks, institutions, home builders, clients, agents, vendors, gig workers, and insurers into a seamlessly integrated and structured AI-driven environment. MyVONIA Innovations LLC, a wholly own 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. MyVONIA aims to assist with managing both personal and professional tasks.
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 strategically monetizing some of the Company's real estate holdings that have increased in value, the sale helping to reduce debt and increase the Company's cash position, the Company continuing to evaluate offers on its Lago Vista Parcel; the Company continuing to pursue the sales strategy as a means of raising capital to spur its growth and advance other real estate projects; the Company moving forward on real estate properties and various projects that it is developing and Pigmental Studios collaborating with SG Devco on housing options for its upcoming development,.
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 successfully implement its sales strategy and sell properties that have increased in value; the Company's ability to move forward on real estate properties and various projects that it is developing; the Company's ability to obtain the capital necessary to fund its activities; the Company's ability to monetize its real estate holdings; 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:
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516-662-9461
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SOURCE Safe and Green Development Corporation
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