Scythian Real Estate Acquires Three Colorado Cannabis Facilities
Scythian Real Estate, a full-service real estate company that specializes in working with sophisticated, well-capitalized cannabis operators, has acquired three Colorado facilities operated by LivWell Enlightened Health, totaling nearly 12,000 square feet. The facilities are located at 19201 E Colfax Ave. in Aurora, 1015 N 2nd St. in Berthoud, and 449 Railroad Ave. in Mancos.
“As a Colorado-founded and based company, we are proud to partner with one of the most sophisticated operators in the state,” said Ryan Arnold, partner at Scythian. “LivWell has made a great impact on the cannabis industry here in Colorado, and we look forward to supporting their continued growth. These acquisitions further expand our commitment to being the landlord and real estate partner of choice for the cannabis industry.”
LivWell is a Colorado-based medical and recreational cannabis company founded in 2009. It is among the most successful retailers operating in this space, growing to 22 dispensary locations across Colorado.
LivWell enjoyed a particularly successful 2020, acquiring a competing retail chain, which had five locations in Colorado. One of these, located in Aurora, is among those purchased by Scythian. This location will undergo a full renovation in 2021. The newly acquired locations offer access to key population areas in metro Denver, northern Colorado and western Colorado.
Scythian’s investment fund is currently valued at over $40 million with 23 assets under management, spanning 15 cities in Colorado, North Dakota and Pennsylvania.