Safe & Green to auction auction Lago Vista property in Texas metroplex

Safe & Green Holdings announced that the Company is auctioning its Lago Vista property which sits on Lake Travis on the Colorado River in the Austin, Texas metroplex. The property has entitlements to support 200+ high end market multifamily rental units, an amenities package, a small hospitality footprint and a 40-boat slip marina. Uninterrupted elevated vistas look west and south across Lake Travis. CREXi, a commercial real estate marketplace that simplifies transactions for brokers with a suite of easy-to-use tools to manage the entire process from listing to closing, will be facilitating the online auction. Gilezan Global brokered by eXp Realty will serve as the broker of record. The property was acquired at approximately $3.5M and was recently appraised at roughly $13M. "We are looking forward to selling our Lago Vista property via online auction," Paul Galvin, Chairman and CEO of Safe & Green Holdings explained. "We bought the property prior to the massive amount of growth that the greater Austin, Texas, area has seen, and we are confident that the sale price will reflect this sharp increase in value. For the current time being, we will continue to proceed with the development plan as well as short term financing."