Vicinity Real Estate Holdings is a strategic joint venture formed by MJIC and an established network of high-net-worth investors to acquire, develop and manage properties leased to licensed entities owned and controlled by MJIC. The JV has already acquired a distribution and delivery center in Oakland and a distribution center in Long Beach and will continue targeting strategic real estate assets to supplement MJIC’s network of licensed facilities in California, including hubs in Brisbane and Coachella. The company secured an initial $24M funding commitment to accelerate expansion of the infrastructure supporting its licensed cannabis operations. MJIC is led by Sturges Karban and is described as a licensed, integrated infrastructural and services platform for compliant cannabis that services operators across the supply chain. MJIC’s operations augment its B2B value proposition with owned and operated retail operations, local on-demand delivery services, e-commerce and subscription offerings. The parent engaged Haywood Securities as a financial services adviser in preparation for a public listing anticipated for early 2019.

Total raised

$24M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2019