SCOTTSDALE, Ariz.--(BUSINESS WIRE)--
Cannabis-Rx (CANA), a real estate company focused on opportunistically acquiring, selling/leasing real estate, and assisting in the growth of the licensed cannabis industry specific to real estate and financing, today announced the sale of five of its properties, and the purchase of six new real estate investments to date in the second quarter.
In the past 60 days, Cannabis-Rx purchased six properties, located in Washington, Illinois and California, for a total of $2,461,675, and sold five separate properties for a total of $1,887,800 in Washington and Florida.
“We are very pleased with how our pipeline has progressed thus far in the second quarter of 2014,” said Llorn Kylo, chief executive officer of Cannabis-Rx. “We have continued to successfully locate, rehabilitate and sell distressed real estate for attractive returns, which reflects our ability to execute on our business strategy. Moving forward, we will continue to aggressively look for suitable commercial properties to purchase that cater to the licensed marijuana industry.”
Currently, Cannabis-Rx owns 35 properties located across Washington State, Illinois, California, and Florida. Seven of the properties are listed for sale, seven are under contract to be sold and 21 are in the process of being rehabilitated.
About Cannabis-Rx, Inc.
Cannabis-Rx (CANA) is a real estate company focused on opportunistically acquiring, selling/leasing real estate, and assisting in the growth of the cannabis industry specific to real estate and financing in states where it is licensed or permitted for medicinal and/or recreational purposes. In addition to strategically purchasing properties at a significant discount to replacement cost and rehabilitating the assets to enhance their value, the Company provides licensed cannabis-based businesses with capital and real estate opportunities to advance their growth objectives. Cannabis-Rx also plans to offer consulting services to licensed cannabis growers and operators. The Company does not, nor does it intend to, grow, distribute or sell cannabis. For additional information, please visit www.cannabis-rx.co
- Real Estate
- real estate company
Phil Denning and Jason Chudoba