Acreage Holdings Founder Launches $125 Million Cannabis REIT

Viridescent Realty Trust Announces The First Closing of its Cannabis Mortgage Real-Estate Investment Trust

CYPRESS, Texas, June 08, 2021–(BUSINESS WIRE)–Viridescent Management LLC, an affiliate of Viridescent Capital Partners (“Viridescent”), 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 (“mREIT”), Viridescent Realty Trust (“VRT”).

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.

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.

About Viridescent Capital Partners

Viridescent Capital Partners is a private equity firm that brings extensive experience and flexible capital solutions to companies across the cannabis industry. The Viridescent team brings extensive investing and operating experience in the cannabis industry coupled with over 60 years of investing and capital markets experience, making the firm a powerful ally for companies seeking a partner to foster growth and success in the cannabis sector.

Original press release

Published by NCV Newswire
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