Safe and Green Development subsidiary enters JV to develop 59.4-acre Texas residential project

RenX Enterprises Corp.

LV Peninsula Holding LLC contributes 59.4 acres in Lago Vista, TX valued at $11.5M to JV with Preserve Acquisitions.
Preserve provides $94K initial earnest deposit, plus $36K within 90 days, total $130K held in escrow.
Preserve has 150-day feasibility period to terminate for any reason; six optional 30-day extensions at $15K each.
JV closing requires secured construction financing and JV operating agreement; closing 30 days after feasibility period.
If Preserve fails to submit Phase 1 building permits within 11 months, Owner can keep earnest money as liquidated damages.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

RenX Enterprises Corp. entered into Contribution Agreement with Preserve Acquisitions, LLC valued at $94,000 (effective 2023-11-28).

Action: entry
Agreement: collaboration
Counterparty: Preserve Acquisitions, LLC
Value: $94,000
Effective: 2023-11-28

Exact text from the filing

On November 28, 2023, LV Peninsula Holding LLC (“LV Holding”), a Delaware limited liability company and wholly owned subsidiary of Safe and Green Development Corporation (the “Company”), entered into a Contribution Agreement with Preserve Acquisitions, LLC, a Delaware limited liability company (“Preserve”), to form either a Delaware or Texas limited liability company or limited partnership (the “Joint Venture”) for the purpose of owning, holding for investment and ultimately selling a residential housing development (the “Project”) to be developed by the parties on approximately 59.3712 acres located in Lago Vista, Texas currently owned by LV Holding (the “Property”) upon the terms and conditions set forth in the Contribution Agreement and in the operating agreement of the Joint Venture to be negotiated between the parties (the “JV Agreement”).

View on SEC.gov

273 material agreements filed in the last 30 days. Browse all material agreements →

RenX Enterprises Corp. filing history →

Source: SEC EDGAR

accession 0001213900-23-092693

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.