DSS Expands American Medical REIT Subsidiary with Acquisition of 21,900 Sq. Ft. Medical Office Building
13 January 2022 - 12:30AM
DSS, Inc. (“DSS” or the “Company”) (NYSE American: DSS), a
multinational company with nine operating business lines in
diverse, high-growth industries, today announced its majority-owned
subsidiary, American Medical REIT Inc. ("
AMRE"),
has acquired a tenanted 21,900 square foot medical office building
in Winter Haven, Florida.
Palm Medical Center (“Palm”), the primary tenant
of the Winter Haven medical office building, leases nearly 19,000
sq. ft. of the property and has six years remaining on its lease
with three five-year options to renew. Rent increases to Palm are
limited to 1% annually, and Palm has a first right of refusal on
any vacant space at the Winter Haven medical office building. The
amount Palm pays towards property taxes will freeze at the 2020
rate, and any future increases in property taxes above the 2020
rate will be absorbed by AMRE.
“While other areas within commercial real estate
have been impacted by the ongoing pandemic, medical real estate has
demonstrated considerable resiliency,” stated Frank D. Heuszel, DSS
CEO. “We are thrilled to further expand our medical real estate
operations with the addition of the Winter Haven facility to our
growing AMRE portfolio. AMRE, launched in March 2020, now owns more
than 380,000 sq. ft. of high-quality healthcare assets across the
US, providing a formidable foundation for our operations as we seek
to further accelerate growth and build long-term value for our
shareholders.”
In connection with the acquisition of the Winter
Haven property, American Pacific Bancorp, Inc.
(“APB”), a majority-owned subsidiary of DSS,
loaned AMRE $4.8 million (the “APB Loan”). The APB
Loan was made on or about December 21, 2021 (the “APB Loan
Date”). As additional inducement for the loan, AMRE
granted APB detachable warrants for the purchase of 475,710 shares
of common stock, $0.001 par value per share, of AMRE (the
“AMRE Common Stock”) at $10.00 per share. The APB
Loan matures 12 months from the APB Loan Date (the “APB
Loan Maturity Date”). The APB Loan bears interest at a
fixed rate of 8% on the outstanding loan balance, calculated on an
actual number of 360 days. Accrued interest on the APB Loan is due
and payable quarterly, with principal and accrued interest due on
the APB Loan Maturity Date.
About American Medical REIT Inc.
AMRE provides financing solutions to leading
medical operators by acquiring licensed patient treatment
facilities in various communities and delivering reliable, secure,
and competitive cash returns to our investors. AMRE focuses on
credit worthy single-tenant, single property transactions in the
$10-$60M range and portfolio deals of larger scale, having initial
rental yield in the 7-9% range and to pay a quarterly dividend up
to 8% in annualized yield to the investors.
For more information, please
visit: www.americanmedreit.com.
About DSS, Inc.
DSS is a multinational company operating
business segments in blockchain security, direct marketing,
healthcare, consumer packaging, real estate, renewable energy,
securitized digital assets, securities trading and fund management,
and banking, lending, and finance. Its business model is based on a
distribution sharing system in which shareholders receive shares in
its subsidiaries as DSS strategically unlocks value through IPO
spin offs. Under new leadership since 2019, DSS has built the
necessary foundation for sustainable growth through the acquisition
and formation of a diversified portfolio of companies positioned to
drive profitability in five high-growth sectors. These companies
offer innovative, flexible, and real-world solutions that not only
meet customer needs, but create sustainable value and opportunity
for transformation.
For more information on DSS
visit http://www.dssworld.com.
Investor Contact:
Dave Gentry, CEORedChip Companies
Inc.407-491-4498Dave@redchip.com
Safe Harbor Disclosure
This press release contains forward-looking
statements that are made pursuant to the safe harbor provisions
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements include, but are not
limited to, statements related to the Company's intended use of
proceeds and other statements that are not historical facts.
Forward-looking statements are based on management's current
expectations and are subject to risks and uncertainties that may
cause actual results or events to differ materially from those
projected. These risks and uncertainties, many of which are beyond
our control, include: risks relating to our growth strategy; our
ability to obtain, perform under and maintain financing and
strategic agreements and relationships; risks relating to the
results of development activities; our ability to attract,
integrate and retain key personnel; our need for substantial
additional funds; patent and intellectual property matters;
competition; as well as other risks described in the section
entitled "Risk Factors" in the prospectus and in our other filings
with the SEC, including, without limitation, our reports on Forms
8-K and 10-Q, all of which can be obtained on the SEC website at
www.sec.gov. Readers are cautioned not to place undue reliance on
the forward-looking statements, which speak only as of the date on
which they are made and reflect management's current estimates,
projections, expectations, and beliefs. We expressly disclaim any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in our expectations or any changes in events,
conditions or circumstances on which any such statement is based,
except as required by law.
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