TORONTO – Nova Net Lease REIT will make a liquidating distribution on February 20 to holders of real estate investment trust units as of February 13. The distribution is estimated to be US$0.43 per REIT unit.
The liquidating distribution is made in connection with the previously announced sale of Class A Units of Nova Net Lease Operating LLC, being substantially all of the REIT’s non-financial assets, by Verdant Growth Properties Corp., a wholly owned subsidiary of the REIT, to Bluebird Real Estate Holdings LLC for total gross proceeds of US$3.71 million. The Liquidating Distribution represents the distribution of all the REIT’s assets after providing for liabilities, unpaid transaction costs, and administrative costs.
The REIT units will not trade following the close of the market on February 12 and will be de-listed from the Canadian Securities Exchange as of the close of the market on February 13, 2025, and will also be de-listed from the OTCQB. Immediately prior to the liquidating distribution, the REIT will terminate in accordance with its declaration of trust.
Additional information regarding the transaction can be found in the REIT’s management information circular dated November 15, 2024.
About Nova
Nova Net Lease REIT is a cross-border real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario to hold investments in cannabis-related properties located in the United States through its operating partnership.
