Safe And Green Development Corporation Executes Contract To Sell St Mary's Site For $1.35M
Portfolio Pulse from Benzinga Newsdesk
Safe and Green Development Corporation (NASDAQ:SGD) has agreed to sell its St Mary's property to Pigmental Studios for $1.35 million. The sale is part of SGD's strategy to monetize its real estate holdings, demonstrating the increased value of its properties. The transaction, expected to close by April 1st, 2024, will strengthen SGD's balance sheet and support its ongoing and future projects.
February 05, 2024 | 2:10 pm
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POSITIVE IMPACT
SGD's sale of the St Mary's property to Pigmental Studios for $1.35 million reflects a strategic move to monetize real estate assets, indicating a positive impact on its financial health.
The sale of the St Mary's property is a direct action by SGD to monetize its real estate holdings, which is expected to have a positive impact on its balance sheet. This move demonstrates the company's ability to increase the value of its assets over time and provides financial flexibility for future projects. The positive reception of this news by investors could lead to a short-term increase in SGD's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100