A New York-based limited partnership said it has entered binding agreements to acquire 15 marijuana-related properties in nine states for $182.8 million. Company officials say the agreement shows the company’s intention of becoming a leader in the cannabis real estate investment trust (REIT) sector. Subversive Real Estate Acquisition REIT characterized the acquisitions as its qualifying transaction. Furthermore, the transaction is among the first to convert from a special purpose acquisition company (SPAC) into a publicly-traded real estate investment trust. After that initial process is completed, Subversive expects to close on the acquisitions of two additional properties for a total of $17.9 million.

SpeedWeed, 10/10/2020 08:55:02

Open article: https://speedweed.com/group-inks-182-8m-of-cannabis-deals-in-bid-to-become-publicly-traded-reit/