LOS ANGELES–(BUSINESS WIRE)–Treehouse Real Estate Investment Trust, Inc. (“Treehouse” or the “Company”) today announced that it has completed the acquisition of five properties for a total purchase price of approximately $54.7 million.
“We are excited to announce the first set of transactions for Treehouse. The acquisition of these properties underscores the Company’s long-term business plan to acquire, own, and manage specialized cannabis-use retail and industrial facilities that are net leased to experienced, state-licensed operators,” said Brian Kabot, Stable Road Capital Chief Investment Officer and Treehouse Board Member.
Below is a list of properties included in the sale:
- Retail storefront located on Lincoln Blvd in Venice, California;
- Retail storefront located on Robertson Blvd, the closest dispensary to Beverly Hills, California;
- Retail storefront located in Santa Ana, California;
- Retail storefront located in Syracuse, New York;
- A 45,000 square foot cultivation and production facility located in Sparks, Nevada.
Treehouse Real Estate Investment Trust, Inc. is a newly-organized, externally managed real estate investment company focused on the acquisition, ownership and management of specialized retail and industrial properties leased to experienced, state-licensed operators for their regulated adult-use and medical-use cannabis facilities. Treehouse will initially be externally managed and advised by an affiliate of MedMen Enterprises Inc. Visit http://www.TreehouseREIT.com
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words like “may,” “will,” “likely,” “should,” “expect,” “anticipate,” “future,” “plan,” “believe,” “intend,” “goal,” “seek,” “estimate,” “project,” “continue” and similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, changes in the condition of the U.S. economy and, in particular, the U.S. real estate market.
The forward-looking statements included in this press release are made only as of the date of this release, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.
Posted in coordination with GetGreenline – POS Vancouver.