Cannabis-Focused Real Estate Firm to Buy Curaleaf Sites for $28 Million
In a sale-leaseback deal that shows the value of cannabis-related properties on the East Coast, a newly formed real estate firm has agreed to acquire six buildings in New Jersey, Florida and Massachusetts for $28.3 million from Curaleaf Holdings.
Freehold Properties, based in Las Vegas, is set to pay Wakefield, Massachusetts-based Curaleaf $25.5 million in cash and roughly $2.8 million of its common stock in the transaction. The deal was slated to close by the end of August, but both Freehold and Curaleaf could not be reached for comment.