Miami, FL, July 01, 2025 (GLOBE NEWSWIRE) -- Safe and Green Development Corporation (NASDAQ:SGD) ("SGD" or the "Company") is pleased to announce the results of two independent appraisals conducted by CBRE Group, Inc. ("CBRE"), a global leader in commercial real estate services, for its properties in Lago Vista, Texas and Durant, Oklahoma.
The appraisals, completed in June 2025, reflect a combined valuation of $9.9 million, highlighting meaningful value across the Company's real estate portfolio.
- The Lago Vista property, a 58.82-acre lakefront development site on Lake Travis in Travis County, Texas, was appraised by CBRE at $6.4 million as of June 12, 2025.
- The Durant property, a 113.20-acre site in Bryan County, Oklahoma, consisting of both residential and industrial-zoned land, was appraised by CBRE at $3.5 million as of June 16, 2025.
"We are encouraged by these new appraisals and believe they further validate the strength of our real estate portfolio and development strategy," said David Villarreal, Chief Executive Officer of Safe and Green Development Corporation. "This creates additional opportunities for monetization, partnerships, and long-term shareholder value creation."
The properties, combined, currently have an associated mortgage loan with a principal balance of approximately $6,000,000 resulting in net positive equity of approximately $3,900,000. The Company is continuing to evaluate monetization options for both properties and will provide updates as progress is made.
The full CBRE appraisal reports are available on the Presentations page of SGD's website at www.ir.sgdevco.com.
About Safe and Green Development Corporation
Safe and Green Development Corporation is a real estate development company. Formed in 2021, it focuses primarily on the direct acquisition and indirect investment in properties across the United States that are intended for future development into green single-family or multifamily housing projects. The Company wholly owns Resource Group US Holdings LLC, an environmental and logistics subsidiary operating a permitted 80+ acre organics processing facility in Florida. Re-source processes source-separated green waste and is expanding into the production of sustaina-ble, high-margin potting media and soil substrates through advanced milling technology. Its operations also include a logistics platform that provides transportation services across biomass, solid waste, and recyclable materials, supporting both in-house and third-party infrastructure needs. Additionally, the Company wholly owns Majestic World Holdings LLC, a prop-tech company that has developed a real estate AI platform. This platform is integrated into the Company's broader strategy to enhance transaction efficiency and increase margins on home sales by facilitating services such as mortgage origination and down payment assistance.
Forward-Looking Statements
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 the new appraisals further validating the strength of the Company's real estate portfolio and development strategy, the appraisals creating additional opportunities for monetization, partnerships, and long-term shareholder value creation, continuing to evaluate monetization options for both properties and providing updates as progress is made. 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 generate revenue, deliver impact and create shareholder value, 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, 2024, 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.
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