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.
