Document Security Systems, Inc. Enters Proposed Joint Venture to Establish a U.S.– Based Medical Real Estate Investment Trust
ROCHESTER, N.Y., March 16, 2020 (GLOBE NEWSWIRE) -- Document Security Systems, Inc. (DSS or the “Company”) (NYSE American: DSS), a leader in anti-counterfeit,
authentication and diversion protection technologies today announced that on March 3, 2020, together with its wholly owned subsidiary, DSS Securities Inc. (“DSSS”), entered into a
binding term sheet (the “Term Sheet”) with LiquidValues Asset Management Ptd Ltd (“LVAM”), AMRE Asset Management Inc. (“AAMI”) and American
Medical REIT Inc. (“AMRE”) to enter into a proposed joint venture to establish a U.S. based medical Real Estate Investment Trust.
The Company is excited to be able to participate in this venture at an early stage at founders’ valuation by way of angel investment. The Company is given the right to participate in both the REIT manager level - AAMI as well as the REIT level – AMRE. This venture has the potential to be a stable and highly rewarding asset to the Company.
About AAMI and AMRE
AAMI is a real estate investment trust (“REIT”) management company that sets the strategic vision and formulates investment strategies for AMRE. It manages the REIT’s assets and liabilities and provides recommendations to AMRE on acquisitions and divestments in accordance with the investment strategies.
AMRE was formed to originate, acquire, and lease a credit-centric portfolio of licensed medical real estate. AMRE provides investors the opportunity for direct ownership of Class A licensed medical real estate. AMRE intends to acquire purpose-built healthcare facilities and lease them to leading clinical operators with strong market share under secure triple net leases. AMRE targets hospitals (both Critical Access and Specialty Surgical), Physician Group Practices, Ambulatory Surgical Centers, and other licensed medical treatment facilities.
The team that is heading AAMI is the same team that founded a similar REIT – Global Medical Real Estate (GMRE) – that is currently listed on the New York Stock Exchange with market capitalization of over $800 Million and was recently added to the Morgan Stanley Capital International (MSCI) US REIT Index. Mr. Chan Heng Fai, Chairman of the board and largest shareholder of the Company, was the sole funder and founder of the GMRE REIT.
AMRE has in place two signed agreements with an advisory firm and two investment banking houses in the United States in the effort to actively raise funds.
The first agreement was signed with an advisory firm on December 11, 2019 for a period of six (6) months, with such term automatically extended on a month-to-month basis, pursuant to which the advisory firm will assist AMRE in raising capital for its medical facilities platform. The agreement will allow AMRE to access the advisory firm’s services and provide opportunities for AMRE to match with potential real estate capital providers. These capital providers could provide real estate equity, senior financing and/or subordinate/mezzanine financing to support the Company’s growth. The advisory firm has extensive experience in providing customized capital and financial advisory solutions to real estate owners, investors and lenders.