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Safe and Green Development Announces Two Sites Appraised at $9.9 Million
Globenewswireยท 2025-07-01 12:00
Core Viewpoint - Safe and Green Development Corporation announced the results of two independent appraisals, indicating a combined valuation of $9.9 million for its properties in Lago Vista, Texas, and Durant, Oklahoma, which underscores the strength of its real estate portfolio and development strategy [1][2]. Group 1: Appraisal Results - The Lago Vista property, a 58.82-acre lakefront development site, was appraised at $6.4 million as of June 12, 2025 [6]. - The Durant property, a 113.20-acre site with both residential and industrial zoning, was appraised at $3.5 million as of June 16, 2025 [6]. - The combined valuation of both properties reflects meaningful value across the Company's real estate portfolio, totaling $9.9 million [1]. Group 2: Financial Position - The properties have an associated mortgage loan with a principal balance of approximately $6 million, resulting in net positive equity of approximately $3.9 million [2]. - The Company is exploring monetization options for both properties and will provide updates as progress is made [2]. Group 3: Company Overview - Safe and Green Development Corporation focuses on acquiring and investing in properties across the U.S. for future development into green housing projects [4]. - The Company owns Resource Group US Holdings LLC, which operates an organics processing facility and is expanding into sustainable potting media production [4]. - The Company also owns Majestic World Holdings LLC, which has developed a real estate AI platform to enhance transaction efficiency and increase margins on home sales [4].