Exclusive: Cannabis Real Estate SPAC Announces $182M In AcquisitionsPosted by On

Subversive Real Estate Acquisition REIT LP (NEO: SVU.U) is announcing a series of acquisitions with a total valuation of $182 million.

According to information provided exclusively to Benzinga, these transactions imply the firm — currently operating as a special-purpose acquisition company (SPAC) — will become an active REIT with a portfolio that includes 15 cannabis retail, industrial cultivation, greenhouse cultivation and manufacturing assets across eight states.

“We are very excited to announce Subversive REIT’s $182 million qualifying transaction to become the second publicly traded cannabis REIT,” CEO Richard Acosta said during a recent call with shareholders.

The other publicly traded cannabis REIT the executive references is Innovative Industrial Properties Inc (NYSE:IIPR).

Deep Pockets

Having raised $225 million earlier this year, Subversive Real Estate Acquisition REIT still has money to deploy.

Acosta said his team…

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