GreenAcreage Announces $55 Million Sale-Leaseback Transaction

NEW YORK, Aug. 4, 2020 /PRNewswire/ -- GreenAcreage Real Estate Corp. ("GreenAcreage") announced today that it closed on a sale-leaseback financing transaction in Florida with a leading national cannabis operator ("Tenant").  GreenAcreage acquired the cultivation facility for a total of $55 million.  The property will be subject to a long-term, triple-net lease to the Tenant, who will continue to operate the facility.

Jeffrey Lefleur, Chief Investment Officer of GreenAcreage, said, "This was a great opportunity for us to partner with one of the best operators in the cannabis space in a state that we find very attractive.  We look forward to continuing our support of the cannabis industry's financing needs."

Following close of the acquisition, GreenAcreage's portfolio will consist of more than $130 million of industrial and retail cannabis properties acquired over the last 12 months, all of which are long-term net-leased to large, publicly-listed multi-state cannabis operators.

About GreenAcreage Real Estate Corp.

GreenAcreage provides sale-leaseback and construction financing to companies operating in the cannabis industry. GreenAcreage specializes in helping cannabis-related companies release and redeploy the capital within their fixed assets, as well as provide long-term construction financing for the expansion and development of new cultivation, processing, dispensary, and other cannabis-related commercial facilities.

Contact Information:

GreenAcreage Real Estate Corp.
300 Park Avenue
New York, NY  10014
[email protected]

SOURCE GreenAcreage Real Estate Corp.

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