Safe and Green Development Secures $9.9 Million in Appraisals

Safe and Green Development Announces Successful Property Appraisals

Safe and Green Development Corporation (NASDAQ: SGD) is excited to share the outcomes of two professional property appraisals that illustrate the growing value of its extensive real estate portfolio. Conducted by CBRE Group, a renowned commercial real estate company, these appraisals highlight the potential that exists within the company's offerings.

Valuation Report Highlights

Recently completed appraisals have determined that the combined value of the properties reviewed is an impressive $9.9 million. This figure confirms the strong market position held by the Company. Investors can have confidence in the company's growth trajectory, particularly concerning their holdings in Lago Vista, Texas, and Durant, Oklahoma.

Lago Vista Property Details

The Lago Vista property is a stunning 58.82-acre site located along the picturesque shoreline of Lake Travis in Travis County. It’s been appraised at $6.4 million. The scenic location, coupled with its development potential, positions this property as a prime asset.

Durant Property Insights

On the other hand, the Durant property encompasses 113.20 acres in Bryan County and is notable for its dual zoning, offering opportunities for both residential and industrial development. This site has been appraised at $3.5 million, underscoring its strategic importance within the Company’s portfolio.

Future Growth Potential

David Villarreal, the Chief Executive Officer of Safe and Green Development Corporation, expressed optimism regarding the appraisal results. He articulated confidence that the properties' evaluations substantiate the efficacy of the company’s development strategies. This achievement opens doors to enhanced monetization pathways, valuable partnerships, and the creation of long-term shareholder value.

Financial Overview and Properties’ Potential

The collective properties currently have a mortgage loan with a principal balance of approximately $6 million. Due to the current appraisals, there is a net positive equity of around $3.9 million. As the Company continues to assess various monetization avenues, updates will be provided regularly to stakeholders.

About the Company

Founded in 2021, Safe and Green Development Corporation focuses on the acquisition and development of properties across the United States with an emphasis on sustainable housing projects. Their operations include Resource Group US Holdings LLC, which runs a permitted 80-acre facility in Florida for processing organic waste. They aim to produce eco-friendly potting media, contributing to the environmental sustainability of housing solutions.

Furthermore, the Company has expanded its technological capabilities through Majestic World Holdings LLC, which offers an innovative real estate AI platform to streamline transactions and boost profitability in home sales.

Frequently Asked Questions

What properties did Safe and Green Development appraise?

The company appraised properties in Lago Vista, Texas, and Durant, Oklahoma, valued at $6.4 million and $3.5 million respectively.

What is the total appraised value of the properties?

The combined appraised value of the two properties is approximately $9.9 million.

How does this appraisal impact Safe and Green Development?

The appraisal results validate the company's real estate strategies and open new opportunities for growth and partnerships.

What is the net positive equity from these properties?

The net positive equity from the properties is approximately $3.9 million after accounting for a $6 million mortgage loan.

What is the focus of Safe and Green Development Corporation?

The Company is dedicated to developing green single-family and multifamily housing projects across the U.S. and includes waste processing and prop-tech services in its operations.

About The Author

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