MJ Biz reports
NewLake Capital Partners and real estate investment trust (REIT) GreenAcreage closed a merger that creates a massive marijuana real estate company.
The combined company boasts more than $325 million in assets and $110 million-plus in cash as it pursues further investments and diversification of its real estate portfolio, according to a news release.
Financial details of the deal were not disclosed.
NewLake, based in Chicago, partnered with Columbia Care in 2019 in the marijuana multistate operator’s first sale-leaseback transaction.