Vireo Growth Completes Purchase of Key New York Facility
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Vireo Growth ( (TSE:VREO) ) has provided an announcement.
On May 26, 2026, Vireo Growth Inc. completed the US$88.5 million purchase of its 389,000-square-foot cannabis cultivation and production facility in Perth, New York, previously leased from a subsidiary of Innovative Industrial Properties. The transaction followed Vireo’s exercise of a purchase option in its lease for the Johnstown, New York facility.
To finance the acquisition, Vireo’s subsidiary obtained US$49 million in seller financing via a note bearing 15% interest and maturing in 2027, secured by a first-priority mortgage and guaranteed by the company. The remaining US$41 million and closing costs were funded through a Chicago Atlantic term loan secured by a second-priority mortgage and guaranteed by another Vireo subsidiary, increasing the group’s secured debt obligations tied directly to this key New York asset.
More about Vireo Growth
Vireo Growth Inc. is a Minneapolis-based cannabis company founded in 2014, originally focused on medical cannabis. The company is building a disciplined, execution-focused platform with an intense local market focus while leveraging a national portfolio, and it emphasizes long-term value for customers, employees, shareholders and the communities it serves.
Average Trading Volume: 67,537
Technical Sentiment Signal: Sell
Current Market Cap: C$714.2M
See more insights into VREO stock on TipRanks’ Stock Analysis page.
