Property Highlights
• High profile free-standing Liberty Health Sciences cannabis dispensary with new 10 year lease
• Drive-thru equipped for added convenience and improved customer experience
• Guarantee from parent AYR Wellness, Inc. (CSE: AYR.A) which is one of the largest vertically integrated multi-state cannabis operators in the US
• Absolute Net lease and 3% annual rent increases provide completely passive income and an excellent hedge against inflation
• Low rent and price point for Florida cannabis dispensary
• Fee simple ownership allows for depreciation of the building boosting after tax returns
• AYR Wellness posted $112 million in revenue (134% increase YOY) and $26 million EBITDA in Q4 2021
• Florida is the #1 medical cannabis market in the US with annual sales exceeding $1 billion
• E-commerce and recession resistant business model, cannabis deemed essential during pandemic
• Excellent underlying real estate fundamentals with clear visibility and full access from US Highway 441 which carries 44,000 cars per day
• Florida has no state income tax and saw a net migration of 345,000 residents between April 2020 and April 2021