Safe and Green Development Corporation (SGD) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Safe and Green Development Corporation has struck a deal to sell 27 acres of industrial land in St. Mary’s, Georgia, to Pigmental LLC for $1.35 million—$900,000 cash plus a $450,000 promissory note. This note, bearing a 10% annual interest rate, begins monthly interest payments in May 2024 and will be backed by a mortgage on the property. The sale is expected to finalize by April 1, 2024, with a latest closing date of April 30, 2024.
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For a comprehensive understanding of the announcement, you can read the full document here.