April 20, 2024 12:46 am
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Valley cannabis company to pay $35M for Nevada cultivation facility

Harvest operates this medical marijuana dispensary in Scottsdale. / Phoenix Business Journal

By Angela Gonzales | Phoenix Business Journal

Tempe-based Harvest Health & Recreation Inc. (CSE: HARV) has signed a deal to pay $35 million for a cultivation facility in Nevada.

Plans call for buying the 32,000-square-foot structure in Cheyenne, Nevada, a suburb of Las Vegas, from MJardin Group, a cannabis management platform. The deal is being financed by an existing Harvest lender, with $30 million already loaned and another $5 million coming when the deal closes.

Founded in 2011, Harvest has more than two dozen retail locations open in six states, with 11 of those in Arizona, two in Maryland, two in Pennsylvania, three in California, six in Florida and two in North Dakota, according to its third quarter report ending on Sept. 30.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.