WAKEFIELD, Mass., Aug. 26, 2019 /PRNewswire/ — Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf”), a number one vertically built-in cannabis operator in the US, in the present day introduced it has signed a sale-leaseback settlement with Freehold Properties valued at roughly $28.three million for six of its properties in Florida, Massachusetts and New Jersey.
On account of the transaction, Curaleaf may have offered a portion of its actual property property whereas retaining use of the properties for cultivation, processing and retail, respectively. The sale value of $28.three million for the six properties covers preliminary funding plus all tenant enhancements made to this point and the proceeds will go in direction of Curaleaf’s continued growth in the US. As well as, Curaleaf intends to entry additional actual property capital to finance extra operational amenities and sure present expansionary building tasks.
This transaction offers a further stream of liquidity for us with a lovely price of financing beforehand not accessible in our trade. We’re delighted to see extra conventional sources of financing turning into accessible to the cannabis trade and intend to deploy the proceeds to proceed our speedy growth and create shareholder worth.
Joseph Lusardi, CEO of Curaleaf
About Curaleaf Holdings
Curaleaf Holdings, Inc. is the main vertically built-in multi-state cannabis operator in the US. It’s a high-growth cannabis firm with a nationwide model recognized for high quality, belief and reliability. The corporate is positioned in extremely populated, limited-license states, and at present operates in 12 states with 48 dispensaries, 13 cultivation websites and 12 processing websites. Curaleaf has the chief experience and analysis and improvement capabilities to supply main service, choice, and accessibility throughout the medical and adult-use markets, in addition to within the CBD class via its Curaleaf Hemp model. On Could 1, 2019, Curaleaf introduced the acquisition of the Choose model from Cura Companions for about $949 million. On July 17, 2019, Curaleaf introduced the acquisition of Grassroots for about $875 million.
About Freehold Properties
Freehold Properties is a newly shaped, internally managed actual property funding firm that invests in specialised agricultural, industrial and cannabis properties leased to skilled, multi-state-licensed operators. The Firm’s administration workforce, board of administrators and strategic advisors have in depth expertise within the cannabis trade and in founding and working a publicly traded actual property funding belief. Freehold’s funding technique features a give attention to best-in-class and well-capitalized multi-state operators (MSOs) with vertically built-in property varieties from cultivation to manufacturing to retail dispensary.
Dan Foley, VP, Company Finance and Investor Relations
Megan Bishop, SVP
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