SG DevCo Expands Texas Real Estate Portfolio with Strategic Investment and Land Acquisition

SG DevCo expands Texas real estate footprint By Investing.com

MIAMI - Safe and Green Development Corporation (NASDAQ: SGD), a real estate development firm, announced today its plans to acquire an additional 22 single-family lots in Edinburg, Texas, expanding its joint venture project in the region. This acquisition comes on top of a previous purchase of 5 lots in the same subdivision, signifying a strategic move to strengthen its presence in the rapidly growing Rio Grande Valley area. The company anticipates that the lots will be permitted soon, with the transaction expected to close within the next 60 days. SG DevCo aims to complete the delivery of all homes by the end of Q2 2025, indicating a swift progression in its development timeline. David Villarreal, CEO of SG DevCo, emphasized the company's commitment to growth and efficiency, stating, "By pursuing lots that are ready for vertical construction, we aim to efficiently meet the demands of our customers while generating substantial revenue." In line with its core values, SG DevCo assures that the homes built in this project will adhere to sustainability and environmental consciousness, featuring energy-efficient designs and sustainable building practices. SG DevCo, established in 2021, has been focusing on developing real estate projects using prefabricated modules and emphasizes innovative and green construction across various income and asset classes. The company, through its majority-owned subsidiary Majestic World Holdings LLC, has also developed a real estate AI Platform intended to streamline the real estate marketplace. Additionally, MyVONIA Innovations LLC, a wholly-owned subsidiary, is the creator of MyVONIA, an AI-powered personal assistant. This expansion is based on a press release statement and should be considered in the context of the company's forward-looking statements, which involve certain assumptions and expectations. These statements are subject to various factors that could cause actual results to differ, including the company's ability to successfully acquire and develop the additional lots and to fulfill its project goals within the anticipated timeframe. In other recent news, Safe & Green Development Corp has announced a series of strategic moves. The real estate firm has secured a strategic funding agreement with Arena Investors, potentially providing up to $10 million to support its growth. The initial funding from Arena is $1.38 million, with the possibility of additional tranches reaching a total of $10.27 million. Moreover, SG Devco has entered a joint venture with Milk & Honey LLC to develop single-family homes in Edinburg, Texas, with a capital contribution of $100,000 and a 60% interest in the venture. The company has also partnered with Trio Residential LLC to integrate Trio's home financing solutions into the Xene Home AI Platform. In another development, SG Devco has received a Nasdaq compliance warning, indicating that it may face delisting if its next report fails to meet the criteria. The company's stockholders have ratified the appointment of MK CPAS PLLS as the independent registered public accounting firm for the fiscal year ending December 31, 2024. Lastly, SG Devco has announced plans to acquire MyVONIA, an artificial intelligence assistant platform, and has launched its Xene Home Platform, an AI-powered real estate transaction tool. These are recent developments that provide insight into the company's strategic initiatives and partnerships. As Safe and Green Development Corporation (SG DevCo) continues to expand its real estate endeavors in Edinburg, Texas, potential investors and stakeholders can gain additional insights by considering key metrics and tips from InvestingPro. SG DevCo's strategic acquisition of single-family lots is a notable development in its growth trajectory, but it is also important to consider the company's financial health and market performance. InvestingPro Data indicates that SG DevCo is operating with a negative Price/Earnings (P/E) ratio of -0.78 for the last twelve months as of Q1 2024, suggesting that the company has not been profitable over this period. The Price/Book (P/B) ratio stands at 1.95, which can offer insights into how the market values the company's assets relative to its share price. Moreover, SG DevCo's revenue for the same period was recorded at 0.05M USD. From an operational perspective, SG DevCo's Gross Profit Margin is notably at 100%, demonstrating that it is able to retain all of its revenue as gross profit. However, the Operating Income Margin is significantly negative at -9643.91%, indicating operational challenges and expenses far exceeding the gross profit. InvestingPro Tips highlight that SG DevCo operates with a significant debt burden and may have trouble making interest payments on its debt. These tips are particularly relevant as the company takes on new development projects, which could further strain its financials. Additionally, the company is quickly burning through cash, which could impact its ability to complete projects like the one in Edinburg within the anticipated timeframe. For those interested in a deeper analysis, InvestingPro offers additional tips that can provide a more comprehensive understanding of SG DevCo's financial and operational status. As of now, there are 16 additional InvestingPro Tips available for SG DevCo, which can be accessed at https://www.investing.com/pro/SGD. Investors should consider these financial metrics and InvestingPro Tips when evaluating SG DevCo's recent announcement, as they offer a broader context for the company's potential risks and opportunities within the real estate development sector.

SG Devco secures fresh capital from Arena Investors By Investing.com

Safe and Green Development Corporation (NASDAQ: SGD), a real estate development firm, announced today the closure of a strategic funding agreement with Arena Investors, LP, which could provide up to $10 million to support the company's growth. Arena, an institutional asset manager with around $3.5 billion in assets under management, specializes in creative capital solutions. The investment by Arena is expected to offer SG Devco access to real estate-focused expertise and resources, potentially accelerating the company's project development. The collaboration could enable SG Devco to tap into Arena's extensive network and industry know-how, creating new opportunities and enhancing its operational capabilities. David Villarreal, CEO of SG Devco, stated that this financial commitment from Arena is a testament to their confidence in SG Devco's vision and future real estate projects. The initial funding from Arena is $1.38 million, with the possibility of additional tranches reaching a total of $10.27 million, subject to certain conditions outlined in SG Devco's recent SEC filings. Additionally, SG Devco has entered into an equity line of credit purchase agreement with Arena Business Solutions, which could potentially allow the company to raise up to $50 million, again under certain conditions. SG Devco, established in 2021, focuses on developing real estate using prefabricated modules and aims to build innovative and eco-friendly residential projects. The company also has a majority-owned subsidiary, Majestic World Holdings LLC, which operates a real estate AI platform designed to decentralize the marketplace by integrating various stakeholders into an AI-driven environment. MyVONIA Innovations LLC, another subsidiary, owns MyVONIA, an AI-powered personal assistant technology. Safe & Green Development Corp has entered into a joint venture with Milk & Honey LLC for a project in Texas. The real estate company will contribute $100,000 in capital and hold a 60% interest in the venture, while Milk & Honey provides land valued at $317,500 and holds the remaining 40% interest. The partnership aims to develop single-family homes in Edinburg, Texas. In other developments, the company has received a Nasdaq compliance warning, indicating that while it currently meets the minimum equity requirement, it may face delisting if its next report fails to meet the criteria. Additionally, Safe & Green Development Corp has announced a series of strategic initiatives, including partnerships with Trio Residential LLC and Affiliated Services Group, the planned acquisition of MyVONIA, and the launch of its Xene Home Platform. As Safe and Green Development Corporation (SGD) secures strategic funding from Arena Investors, LP, it's crucial to understand the financial health and market performance of the company. According to InvestingPro data, SGD's revenue for the last twelve months as of Q1 2024 stands at a modest $0.05 million, with a gross profit margin that impressively hits 100%. However, the operational efficiency tells a different story, with an operating income margin of -9643.91%, indicating significant challenges in managing expenses relative to revenue. The market's response to SGD's performance and outlook can be seen in the company's stock price movements. The one-month price total return as of late February 2024 has seen a sharp decline of -40.96%, with a staggering six-month total return drop of -71.29%. This trend is consistent with the one-year price total return, which plummeted by -96.44%, underscoring a period of intense pressure on the stock. InvestingPro Tips suggest that SGD operates with a significant debt burden and may struggle with making interest payments, as indicated by its high operating income margin. Additionally, the company's stock has been characterized by high price volatility, which could be a concern for potential investors seeking stability. For those considering an investment in SGD, it's worth noting that there are 15 additional InvestingPro Tips available, offering deeper insights into the company's financial health and market performance. These tips can be found at InvestingPro, providing valuable information for making informed investment decisions.

Safe and Green Development Corporation Secures Strategic Investment of up to $10 Million from Arena Investors - Safe & Green Development (NASDAQ:SGD)

MIAMI, Aug. 14, 2024 /PRNewswire/ -- Safe and Green Development Corporation SGD ("SG Devco" or the "Company"), announces the successful closing of a strategic purchase agreement for funding of up to $10 million from Arena Investors, LP ("Arena") and its affiliates. Arena, a global institutional asset manager with approximately $3.5 billion of assets under management, is known for its expertise in providing creative capital solutions. Maxim Group LLC was sole placement agent in connection with the offering. In addition to the potential to accelerate SG Devco's growth, one of the key advantages of this investment by Arena is expected to be the Company's access to Arena's real estate-focused capabilities, which can provide valuable insights and resources to help accelerate the development of SG Devco's real estate development projects. This collaboration is expected to enable SG Devco to leverage Arena's extensive network and expertise, creating new opportunities and enhancing the Company's capabilities. David Villarreal, CEO of SG Devco, expressed his excitement about this milestone, stating, "This investment represents a significant achievement for SG Devco. This strategic commitment signifies Arena's support for our vision and demonstrates its confidence in the future potential of SG Devco's real estate projects. We are confident that Arena's support will not only fuel our expansion but also contribute to the long-term success of our real estate projects." The financing through Arena is intended to further strengthen SG Devco's ability to make a positive impact on the industry while delivering value to its shareholders. The initial funding amount is $1.38 million with the access to subsequent tranches up to a total of $10.27 million subject to various conditions as described in the SG Devco's Form 8-K filing in relation to this transaction. SG Devco also entered into an equity line of credit purchase agreement ("ELOC") with Arena Business Solutions, whereby the Company will have the right, but not the obligation, subject to various conditions, to put shares to the investor for potentially up to $50 million. 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 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. MyVONIA aims to assist with managing both personal and professional tasks. About Arena Investors Arena is an institutional asset manager founded in partnership with The Westaim Corporation WED. With $3.5 billion of invested and committed assets under management as of June 30, 2024, and a team of over 180 employees in offices globally, Arena provides creative solutions for those seeking capital in special situations. The firm brings individuals with decades of experience, a track record of comfort with complexity, the ability to deliver within time constraints, and the flexibility to engage in transactions that cannot be addressed by banks and other conventional financial institutions. For more information, please visit www.arenaco.com. 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 four additional subsequent tranches of funding for up to $10,277,777 in total, having access to Arena's real estate focused divisions to accelerate the development of SG Devco's real estate development projects, the investment enabling SG Devco to leverage Arena's extensive network and expertise, creating new opportunities and enhancing the Company's capabilities, Arena solidifiing its support for the Company's vision and demonstrating its confidence in the future potential of SG Devco's real estate projects, Arena's support not only fueling the Company's expansion but also contributing to the long-term success of its real estate projects, the financing through Arena strengthening SG Devco's ability to make a positive impact on the industry while delivering value to its shareholders, having the right to put shares to the investor under the ELOC for up to $50 million and 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. 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 satisfy the conditions to closing and close on the four additional subsequent tranches of funding for up to $10,277,777, the Company's ability to accelerate the development of its real estate development projects, the Company's ability to leverage Arena's extensive network and expertise, create new opportunities and enhance the Company's capabilities, the Company's ability to secure funding under the ELOC, the Company's ability to make a positive impact on the industry while delivering value to its shareholders, the Company's ability to create 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, 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. View original content:https://www.prnewswire.com/news-releases/safe-and-green-development-corporation-secures-strategic-investment-of-up-to-10-million-from-arena-investors-302221878.html SOURCE Safe and Green Development Corporation Market News and Data brought to you by Benzinga APIs

Safe and Green Development Corporation To Acquire 22 Single Family Lots in South Texas - Safe & Green Development (NASDAQ:SGD)

MIAMI, Aug. 15, 2024 /PRNewswire/ -- Safe and Green Development Corporation SGD ("SG DevCo" or the "Company") announces the expansion of its joint venture project in Edinburg, Texas, after entering into an agreement to acquire 22 additional single-family lots. These lots are an addition to the previously announced acquisition of 5 lots in the same subdivision. This strategic move marks a significant step towards the Company's goal of capitalizing on the rapid growth in and around the Rio Grande Valley. The acquired lots are expected to be permitted and the transaction is expected to close within the next 60 days, further strengthening SG DevCo's foothold in the South Texas real estate market. With this expansion, the company is poised to deliver all homes to customers by the end of Q2 2025. David Villarreal, CEO of SG DevCo, expressed enthusiasm about the company's swift progress, stating, "This expansion is a testament to our unwavering dedication to propelling growth and delivering superior results. By pursuing lots that are ready for vertical construction, we aim to efficiently meet the demands of our customers while generating substantial revenue." SG DevCo remains committed to its core values of sustainability and environmental consciousness. Each home constructed within this expansion project will continue to embody these principles, incorporating energy-efficient features and sustainable building practices. 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 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 acquiring 22 additional single-family lots in Edinburg, Texas, capitalizing on the rapid growth in and around the Rio Grande Valley, permitting the lots and closing the transaction within the next 60 days, further strengthening SG DevCo's foothold in the South Texas real estate market, being poised to deliver all homes to customers by the end of Q2 2025, dedication to propelling growth and delivering superior results, efficiently meeting the demands of customers while generating substantial revenue by pursuing lots that are ready for vertical construction, the commitment to the core values of sustainability and environmental consciousness, constructing each home within this expansion project incorporating energy-efficient features and sustainable building practices and 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. 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 acquire and develop the 22 additional single-family lots in Edinburg, Texas as planned, the Company's ability to capitalize on the rapid growth in and around the Rio Grande Valley, the Company's ability to create 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, 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: Barwicki Investor Relations [email protected] 516-662-9461 View original content:https://www.prnewswire.com/news-releases/safe-and-green-development-corporation-to-acquire-22-single-family-lots-in-south-texas-302223502.html SOURCE Safe and Green Development Corporation Market News and Data brought to you by Benzinga APIs