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Safe and Green Development Corporation (NASDAQ:SGD) ("SG Devco" or the "Company") is pleased to announce that it will strategically look to monetize its real estate holdings throughout 2024. The company has already initiated this strategy with the previously announced Contribution Agreement of Lago Vista wherein the property is valued at $11.5M as an equity interest in the development.
The Company will look to continue this by strategically identifying markets where the Company's land may have increased in value, as demonstrated by third-party appraisals, due to the entitlements that the Company was able to secure over the past three years. This strategy is expected to yield non-dilutive capital and accelerate the progress of other active projects.
David Villarreal, President & CEO of Safe and Green Development Corporation stated, "Over the past three years we have worked diligently to garner valuable entitlements on the land we have acquired. We will analyze certain markets to determine how we can best monetize the appreciation of the land value. We believe this strategy will enable us to align our focus with minimal dilution to our shareholder base."
Posted In: SGD
