LOS ANGELES–(BUSINESS WIRE)–Treehouse Real Estate Investment Trust, Inc. (“Treehouse” or the
“Company”) announced today that it has closed upon nearly a $16 million
debt commitment with a large, federally insured and regulated commercial
bank. The commitment carries a 5.6% interest rate and provides for a
revolving facility for future notes as Treehouse continues acquiring
cannabis-use properties.
“Treehouse is excited to announce that we have successfully procured
federally insured commercial bank financing,” said Brian Kabot, Stable
Road Capital Chief Investment Officer and Treehouse Board Member. “The
capital relationship allows us to continue executing cannabis-related
real estate acquisitions in a scaled, non-dilutive manner that is most
accretive to our investors. We are witnessing federally regulated
lenders enter the cannabis space and we are thrilled to be at the
forefront of those efforts.”
The Company intends to use the proceeds from the facility to fund
additional cannabis real estate acquisitions across the United States,
which is estimated to generate $80 billion in cannabis sales by 2030
according to Cowen, Inc. The Company will seek to continue acquiring
real estate across several recreational and medical cannabis states,
including Arizona, California, Florida, Illinois, Massachusetts,
Michigan, New York and Nevada, with a focus on retail-related properties.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the common stock or any other securities
of the Company.
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. Visit http://www.TreehouseREIT.com
to learn more.
Cautionary Note Regarding Forward-Looking Information and Statements:
This press release contains “forward-looking statements” within the
meaning of the federal securities laws. 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.
Contacts
INVESTOR RELATIONS CONTACT:
Stéphanie Van Hassel
Vice
President of Investor Relations
Email: [email protected]
(323)
705-3025
