Greenleaf capital enters into agreement to sell parcel for $13.4 million gain

Tampa, fla., may 11, 2022 (globe newswire) -- greenleaf capital, llc, the real estate division of  hci group, inc.  (nyse:hci), has entered into an agreement to sell one and a half acres of right-of-way in connection with a planned road improvement project. after transaction costs, greenleaf expects to receive net proceeds of approximately $14.5 million compared with a net book value of $1.1 million. following the sale, greenleaf will retain an office building on six acres of land and expects to re-lease the property to a new tenant at a significant premium to existing rent. the sale is scheduled to close by the end of third quarter 2022.
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