Safe and Green Development Corporation Strikes Deal to Provide Access to Innovative Home Financing Solutions to Deliver Affordable Homeownership
MIAMI, June 14, 2024 /PRNewswire/ -- Safe and Green Development Corporation (NASDAQ: SGD) ("SG Devco" or the "Company") is pleased to announce a strategic agreement with Trio Residential LLC ("Trio") (https://www.thinktrio.com/) . This collaboration adds Trio's innovative home financing solutions into SGD's Xene Home AI Platform ("Xene") (https://xenehome.com/), with the goal of making homebuying more achievable for more customers.
By adding Trio's, lease-to-own and seller financing programs into SGD's Xene, the collaboration aims to empower customers from diverse backgrounds to achieve their dream of homeownership. Trio's home financing solutions will expand the range of options available to consumers, offering additional pathways to realize their real estate goals.
Xene customers will gain access to Trio's various down- payment assistance products, including their lease-to-own program. Trio's unique "Link Home Loan" and "Convertible Lease" provide borrowers with challenging financial backgrounds an opportunity to overcome barriers presented by traditional mortgage products and fulfill their aspirations of becoming homeowners.
David Villarreal, CEO of Safe and Green Development Corporation, expressed his enthusiasm about the arrangement, highlighting the enhanced flexibility it will bring to users of the Xene Home Platform. The access to Trio's unique products aligns perfectly with SG Devco's mission to make homeownership a tangible reality for as many individuals as possible. Villarreal added that the collaboration is a testament to both companies' shared dedication to providing innovative products and services to stakeholders.
The Xene Home Platform promises to extend the reach of Trio's current lender distribution channel expanding upon Trio's direct-to-consumer solution, commented Darryl Lewis, Trio's Founder and Managing Director. Trio believes in the collaboration as well as the intelligence behind the Xene platform and looks forward to expanding the relationship.
The Company anticipates enriching our customers' home-buying journey through this collaboration, as Trio's products will be accessible on the Xene Home Platform within the next 30 days.
About Safe and Green Development Corporation
Safe and Green Development Corporation is a real estate development company. Formed in 2021, it focuses on the development of sites using purpose-built, prefabricated modules built from both wood and steel. The thesis of development is to build strong, innovative and green, single or multifamily projects across all income and asset classes. Additionally, a majority owned subsidiary of SG DevCo, Majestic World Holdings LLC, is a prop-tech company that has created the XENE Home Platform. It is powered by advanced AI technology which aims to decentralize the real estate marketplace, creating an all-in-one solution that brings banks, institutions, home builders, clients, agents, vendors, gig workers, and insurers into a seamlessly integrated and structured AI-driven environment. MyVONIA Innovations LLC, a wholly own subsidiary, is the owner of MyVONIA which is an AI-powered personal assistant designed to help simplify daily tasks and improve productivity for individuals and businesses. MyVONIA aims to assist with managing both personal and professional tasks.
More information about SG DevCo can be found at www.sgdevco.com.
ABOUT TRIO
Trio's mission is to promote household stability and community vitality through innovative homeownership solutions. Trio has been helping Americans achieve their goal of homeownership since 2001. Thousands of families have secured their housing future with Trio's innovative financing programs. Through partnerships with private industry, government, non-profits and community organizers, Trio's lease-to-own and seller financing agreements propel households from renting to owning. With Trio, hundreds of mortgage lenders provide more home financing solutions for consumers entering new careers, gig workers, business owners, those seeking US citizenship, or those simply having a difficult time qualifying for a traditional home mortgage. Learn more today at thinktrio.com, mylinkloan.com or email info@thinktrio.com .
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements regarding the collaboration with Trio empowering customers from diverse backgrounds to achieve their dream of homeownership, enriching customers' home-buying journey through the collaboration, Trio's products being accessible on the Xene Home Platform within the next 30 days and expanding the relationship between Trio and Xene, and Xene Home creating an all-in-one solution that brings banks, institutions, home builders, clients, agents, vendors, gig workers, and insurers into a seamlessly integrated and structured AI-driven environment. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to add Trio's solutions Xene as planned and achieve the anticipated benefits of the collaboration, the Company's ability to obtain the capital necessary to fund its activities, the Company's ability to attract banks, institutions, home builders, clients, agents, vendors, gig workers, and insurers to join the Xene Home platform, the Company's ability to monetize its real estate holdings and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and its subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
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Released June 14, 2024