Curaleaf Holdings, a cannabis operator in the United States, has signed a sale-leaseback agreement with Freehold Properties for six of its properties throughout New Jersey, Florida and Massachusetts.
Freehold Properties, which is a Las Vegas-based newly-formed real estate investment firm focused on cannabis properties, said on Tuesday it will acquire the buildings for $28.3 million.
The properties include a cultivation/production facility and retail dispensary in Bellmawr; a retail dispensary in Fort Pierce, Florida; a retail dispensary in Daytona Beach, Florida; a cultivation/production facility in Webster, Massachusetts; and a retail dispensary in Provincetown, Massachusetts.
The deal, which is expected to close at the end of this month, is comprised of $25.5 million in cash and $2.8 million of Freehold common stock.