Nova Net Lease REIT
NNLRF
Other OTC0.42
USD
+0.07
- -
CIK
0001904690
ISIN
CA66981K1093
Return %
Stock
S&P500
1Y
-20.00
18.85
3Y
-16.68
64.56
5Y
-16.68
71.64
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- James Tyson MacDonald
- Full Time Employees
- 4
- Sector
- Real Estate
- Industry
- REIT - Specialty
- Address
- 181 Bay Street Toronto ON Canada M5J 2T3
- IPO Date
- Sep 15, 2022
- CIK
- 0001904690
- Website
- novanetleasereit.com
- Similar Companies
- Business
- Nova Net Lease REIT operates as an open-ended real estate investment trust focused on acquiring specialized industrial and retail properties, primarily cannabis-related facilities leased to experienced, licensed operators in the United States; its portfolio previously included properties such as a 70,000 square foot vertically integrated operation in Kalamazoo, Michigan tenanted by Cloud Cannabis, and through a 2023 joint venture with a Nevada investor group, facilities in Mesquite and West Wendover, Nevada comprising 98,500 square feet used for headquarters, cultivation, manufacturing, and dispensary operations by Deep Roots. The REIT, formed on July 27, 2021 pursuant to a declaration of trust under the laws of the Province of Ontario and headquartered at 200 Bay Street, Toronto, Ontario, Canada, primarily serves the U.S. cannabis industry across states including Michigan and Nevada through its operating partnership, Nova Net Lease Operating LLC, with units listed on the Canadian Securities Exchange under NNL.U and OTCQB under NNLRF. In a major strategic shift, the REIT closed the sale of substantially all its non-financial assets, specifically Class A Units of Nova Net Lease Operating LLC held by subsidiary Verdant Growth Properties Corp., to Bluebird Real Estate Holdings, LLC in January 2025 for gross proceeds of US$3.71 million, followed by an announcement of a liquidating distribution estimated at US$0.43 per REIT unit payable on February 20, 2025 to unitholders of record as of February 13, 2025, and the subsequent termination of the REIT in the first quarter of 2025.