Sg Blocks Inc (SGBX) has released an update to notify the public and investors about an entry into a material definitive agreement.
Safe and Green Development Corporation is selling a 27-acre industrial site in St. Mary’s, Georgia, to Pigmental Studios for $1.35 million, with $900,000 paid upfront and the rest through a promissory note. This note will incur a 10% annual interest, with regular monthly payments starting May 2024, and will be backed by a mortgage on the property. The expected closure of this deal is by April 30, 2024, marking a significant transaction in the industrial real estate sector.
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For a comprehensive understanding of the announcement, you can read the full document here.
