DSS Adds Ivy Brook Medical Center to its American Medical REIT Portfolio
June 24 2021 - 9:10AM
Document Security Systems, Inc. (“DSS” or the “Company”) (NYSE
American: DSS), a multinational company operating business segments
in blockchain security, direct marketing, healthcare, consumer
packaging, real estate, renewable energy, and securitized digital
assets, today announced its wholly owned DSS Securities, Inc.
subsidiary expanded its investment in American Medical REIT, Inc.
(“AMRE”) through a $2.6 million share purchase agreement. DSS
Securities initially acquired 52% of AMRE in May 2020 and now owns
99% of the real estate investment trust.
The additional investment in AMRE was used to
fund the acquisition of Ivy Brook Medical Center (“Ivy Brook”), a
40,000 square foot first class, all medical facility located
in Shelton, Connecticut. Considered Fairfield County’s most
prestigious medical facility, Ivy Brook provides a vast array of
medical practices and related services in a patient-friendly and
inviting outpatient campus.
“While the pandemic has led to falling rents and
rising vacancies in the commercial real estate markets, the health
services segment is holding steady with landlords collecting rents
at nearly 100% of pre-COVID levels,” stated Frank D. Heuszel, CEO
of DSS. “The percentage of American households with REIT stocks has
nearly doubled, from 23 percent to 44 percent, over the last two
decades. AMRE is well positioned to capitalize on this trend, and
we are excited to help facilitate this addition to its portfolio
through our latest investment.”
AMRE was launched to acquire hospitals and other
acute or post-acute care centers from leading clinical operators
with dominant market share in secondary and tertiary markets. AMRE
seeks to lease each property to a single operator under a
triple-net lease and was formed to originate, acquire, and lease a
credit-centric portfolio of licensed medical real estate. AMRE
plans to qualify as a Real Estate Investment Trust for federal
income tax purposes, which will provide AMRE’s investors the
opportunity for direct ownership of Class A licensed medical real
estate.
Jason Grady, Chief Operating Officer of
DSS, added, “Our Chairman, Heng Fai Ambrose Chan has deep expertise
in real estate investment trust business operations and together
with our Board of Directors, supports the development of our REIT
management activities to expand our asset base and growth
potential. We will continue to parlay their past successes for our
future gains within this substantial market opportunity.”
About Document Security Systems, Inc.
DSS is a multinational company operating
business segments in blockchain security, direct marketing,
healthcare, consumer packaging, real estate, renewable energy, and
securitized digital assets. Its business model is based on a
distribution sharing system in which shareholders will receive
shares in its subsidiaries as DSS strategically spins them out into
IPOs. Its historic business revolves around counterfeit deterrent
and authentication technologies, smart packaging, and consumer
product engagement. DSS is led by its Chairman and largest
shareholder, Mr. Fai Chan, a highly successful global business
veteran of more than 40 years specializing in corporate
transformation while managing risk. He has successfully
restructured more than 35 corporations with a combined value of $25
billion.
For more information on DSS
visit http://www.dsssecure.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
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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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