NEWS
Safe and Green Development Corporation Inks Preliminary Purchase Commitment up to $2.8M for South Texas Project
Safe and Green Development (NASDAQ: SGD) has accepted a preliminary binding purchase commitment from Trio, acting as Program Administrator for Choctaw American Insurance, Inc., for its South Texas development project. The commitment includes:
Sale of the first 5 homes, expected to generate approximately $1,000,000 in revenue
Potential purchase of up to 14 homes, generating sales of approximately $2,800,000
Trio to purchase a maximum of 40% of lots within a subdivision
The agreement is subject to individual Purchase and Sale Agreements and identification of Trio-approved occupants. Closings will occur within 14 days of homes being ready for occupancy. This commitment signifies strong demand for single-family housing in the region and marks SG Devco's first pre-sales in company history.
Sale of the first 5 homes, expected to generate approximately $1,000,000 in revenue
Potential purchase of up to 14 homes, generating sales of approximately $2,800,000
Trio to purchase a maximum of 40% of lots within a subdivision
The agreement is subject to individual Purchase and Sale Agreements and identification of Trio-approved occupants. Closings will occur within 14 days of homes being ready for occupancy. This commitment signifies strong demand for single-family housing in the region and marks SG Devco's first pre-sales in company history.
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