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Cannabis REIT GreenAcreage Allocates $77.3 Million in Investments

Industry News Brooklin Martino

Acreage Holdings, Inc. and GreenAcreage Real Estate Corp., a free land speculation trust, today reported the end of a progression of offer and-leaseback exchanges for the closeout of specific properties and offices from Acreage Holdings to GreenAcreage for a total of around $18 million to Acreage Holdings and roughly $23 million by and large including installments to an outsider merchant. 

The areas funded and closed today include offices in Massachusetts, Florida, and Pennsylvania. Grounds Holdings and GreenAcreage hope to close on extra offices in Illinois and Connecticut within thirty days. 

Expecting full use of this extension financing, GreenAcreage's all-out interest in the properties will be roughly $77.3 million, with $72.3 million explicitly allotted to Acreage Holdings.

Simultaneous with the closings, Acreage Holdings went into long haul, triple-net rent concurrences with GreenAcreage and will keep on working the properties as authorized cannabis facilities.

GreenAcreage has committed to approximately $43.9 million in additional financing in commitments or funding for the properties in Florida and Illinois. As expected, Acreage Holdings may undertake noteworthy development at the properties sold and extra properties to be closed upon.

Read the Full Article on NCV Newswire

Author Brooklin Martino

 

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