Acreage Holdings Founder Launches $125 Million Cannabis REIT
CYPRESS, Texas–Viridescent Management LLC, an affiliate of Viridescent Capital Partners, a private investment firm with substantial operating and investing experience across the U.S. cannabis industry, is pleased to announce a first close of over $125 million on its mortgage real estate investment trust, Viridescent Realty Trust.
“We are excited to launch Viridescent Realty Trust to pursue investment opportunities in cannabis-related real estate, which we believe is an attractive area for investment given the infrastructure being developed to support the rapid growth in the U.S. cannabis industry”
VRT will focus on originating, structuring, underwriting, and managing senior secured loans for established companies that operate in the cannabis industry. With over 20 years of cannabis industry operating and investment experience plus 60 years of structured credit, asset management and capital markets experience, Viridescent’s broad knowledge and network in the cannabis industry position VRT to be a strategic and valued partner for providing customized and tailored financing solutions to the industry.
“We are excited to launch Viridescent Realty Trust to pursue investment opportunities in cannabis-related real estate, which we believe is an attractive area for investment given the infrastructure being developed to support the rapid growth in the U.S. cannabis industry,” said Kevin Murphy, Chief Investment Officer and Managing Partner of Viridescent. “As a keenly focused team with extensive experience spanning the cannabis industry and capital markets, we believe the VRT mREIT fits right into Viridescent’s wheelhouse.”
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the company’s current views with respect to, among other things, future events and financial performance. Words such as “believes,” “expects,” “will,” “estimates,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements. New risks and uncertainties arise over time, and it is not possible for the company to predict those events or how they may affect Viridescent Capital Partners. Therefore, you should not place undue reliance on these forward-looking statements. The company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
(This information is primarily sourced from Viridescent Realty Trust. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).
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