Medmen Real Estate sales to Treehouse
MedMen Announces Completion of Real Estate Sale to Cannabis REIT
2019-02-07 07:00 ET - News Release
LOS ANGELES -- (Business Wire)
MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF) (FSE: A2JM6N) today announced that it has completed the sale of three properties to Treehouse Real Estate Investment Trust (“Treehouse”) with a net proceeds of approximately $18.4 million.
“These proceeds will be deployed into more accretive growth opportunities as we operationalize our national footprint,” said Adam Bierman, chief executive officer and co-founder.
Below is a list of properties included in the sale:
- One retail storefront located on Lincoln Blvd in Venice, California;
- One retail storefront located on Robertson Blvd, the closest dispensary to Beverly Hills, California;
- One 45,000 sq. foot cultivation and production factory located in Sparks, Nevada.
ABOUT MEDMEN:
MedMen is a cannabis retailer with operations across the U.S. and flagship stores in Los Angeles, Las Vegas and New York. MedMen’s mission is to provide an unparalleled experience that invites the world to discover the remarkable benefits of cannabis because a world where cannabis is legal and regulated is a safer, healthier and happier world. Learn more at www.medmen.com
ABOUT TREEHOUSE:
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 https://www.treehousereit.com