The Mint Enter’s Arizona Real Estate Agreement worth $20.5M

In #finance, NewLake #Capital Partners inks a 20.5 #million dollar real estate deal with leading #Arizona cannabis company The Mint. Under terms of the transaction, the #marijuana industry-focused real estate firm purchased a plot of land in #Phoenix for 2.4 million dollars. They will then enter into a long-term, triple net lease agreement with #Tempe-based vertically-integrated multistate operator The Mint, contributing 18.1 million toward their construction of a more than 130,000 square-foot #cultivation and processing facility on the property. The deal was originally announced back in #April, alongside another, already completed sale-leaseback agreement with The Mint involving a 40,000 square-foot industrial property in #Palmer, #Massachusetts. This comes shortly after #Chicago-headquartered NewLake merged with #NewYork #REIT GreenAcreage in #March to create one of the country’s largest #cannabis real estate companies with more than 325 million dollars in assets and over 110 million in #cash. The combined entity now owns 27 properties across 10 states, with tenants including major MSOs such as #Columbia Care, #Cresco, #Curaleaf, and #Trulieve.

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William Bradley

William Bradley

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