Safe & Green Holdings Corp. Subsidiary Olenox Secures $2.4 Million Loan Contingency for Texas Property Acquisition
Reuters
Oct 01
Safe & Green Holdings Corp. Subsidiary Olenox Secures $2.4 Million Loan Contingency for Texas Property Acquisition
**Safe & Green Holdings Corp. Subsidiary Secures $2.4 Million Loan for Texas Property Acquisition** Safe & Green Holdings Corp. announced that its wholly owned subsidiary, Olenox Corp, has entered into a definitive agreement to purchase office and warehouse property in Conroe, Texas for $3 million. The transaction is contingent upon Olenox obtaining a third-party loan of $2.4 million, secured by the property, with a term of at least 20 years and an initial interest rate not to exceed 8%. The company must secure this financing before the purchase can be completed. Olenox has also entered into a lease agreement with the seller for the interim period, with a portion of lease payments credited toward the purchase price at closing. The new financing arrangement is a key step in expanding Safe & Green's operational footprint in Texas.
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