Safe & Green announces purchase of Waldron Manufacturing Facility

Safe & Green Holdings that SG Echo a wholly owned subsidiary of the Company, has purchased the Waldron manufacturing facility in Durant, Oklahoma, which SG Echo has been leasing. The Waldron manufacturing facility, which has been under lease since November 2021, came with an option to purchase the facility for $1M. Subsequent to the original lease agreement, the Company funded approximately $2.5M of upgrades to the facility. As a result, the facility was recently appraised for $5.2 million, which is approximately $1.7 million over the Company’s all-in investment. In turn, SG Echo, secured a $1.75M commercial mortgage on Waldron and a $1.5M financing agreement which funded the purchase of the facility as well as provided it with additional working capital.