Document Security Systems, Inc. (NYSE: DSS) announced its wholly-owned supplementary DSS Securities, Inc. had stretched its speculation in American Medical REIT, Inc. through a $2.6 million share purchase agreement. DSS Securities initially picked up 52% of AMRE in May 2020 and now grasps 99% of the real estate venture trust.
The company used the added investment to buy Ivy Brook Medical Center
It used the additional speculation in AMRE to endorse the purchase of Ivy Brook Medical Center, a 40,000 square foot first-class therapeutic resource situated in Connecticut. Deliberated as Fairfield County’s most valued medical facility, Ivy Brook delivers a vast collection of medical practices and associated services in a patient-friendly and engaging outpatient property.
“While the epidemic has led to diminishing rentals and snowballing openings in the viable real estate marketplaces, the well-being amenities section is holding steady,” stated Frank D. Heuszel, CEO of DSS.
“The fraction of American families with REIT stocks has almost doubled, from 23 percent to 44 percent, over the previous two decades. AMRE is well situated to utilize this trend, and we are happy to help enable this adding to its collection through our latest venture.”
AMRE launched to acquire infirmaries
AMRE was started to buy infirmaries and other acute or post-acute care hubs from foremost medical operators with top market share in ancillary and tertiary markets. AMRE sought to rent each property to a solitary operative under a triple-net tenancy and was formed to instigate, buy, and let a credit-centric assortment of accepted medical real estate. AMRE schemes to succeed as a Real Estate Investment Trust for central income levy purposes, which will provide AMRE’s stakeholders the chance for the direct proprietorship of Class A certified therapeutic real estate.
Jason Grady, Chief Operating Officer of DSS, added, “Our Chairman, Heng Fai Ambrose Chan has profound know-how in real estate investment trust viable operations. He collectively with our Board of Directors, reinforces the development of our REIT management actions to enlarge our possession base and growth latent. We will endure to parlay their past achievements for our future expansions within this considerable market opening.”