Treehouse Real Estate Investment Trust, Inc. (“Treehouse”) is a real estate investment company focused on the acquisition, ownership and management of cannabis retail and industrial properties that generate rental revenue under long-term, net lease agreements. Our broad expertise encompassing institutional real estate, capital markets and cannabis give us a comprehensive understanding of this unique and nuanced marketplace. Treehouse’s headquarters is in Chicago, Illinois.
Board of Directors
Raymond J. Lewis. Mr. Lewis will serve as our Chief Executive Officer and President, and a member of our board of directors, commencing September 2019. Prior to joining our Company, Mr. Lewis served as the Chief Executive Officer and President, and a member of the board of directors, of Care Capital Properties, Inc. (NYSE: CCP), from August 2015 until August 2017 (when Care Capital Properties was acquired by Sabra Health Care REIT, Inc.). Prior to Care Capital Properties, Mr. Lewis was at Ventas, Inc., a real estate investment trust (NYSE: VTR), where he served as its President from 2010 to 2015, and its Chief Investment Officer from 2002 to 2010. Prior to Ventas, Mr. Lewis was Managing Director of Business Development for GE Capital Healthcare Financial Services, a division of General Electric Capital Corporation, from 2001 to 2002, and Executive Vice President of Healthcare Finance for Heller Financial Inc., from1996 until 2001 (when Heller Financial was acquired by GE Capital). Mr. Lewis also currently serves as a director of Sabra Healthcare REIT, Inc. (Nasdaq: SBRA) and Chairman Emeritus of the National Investment Center for the Seniors Housing & Care Industry, and is a former member of the Advisory Board of Governors of NAREIT and former Vice Chairman of the American Seniors Housing Association. Mr. Lewis received a Bachelor of Business Administration degree in Finance and Marketing from the University of Wisconsin–Madison. Mr. Lewis is qualified to serve as a director because of his wide-ranging involvement and executive leadership roles at multiple REITs and public companies, and his extensive experience in real estate investments, mergers and acquisitions, and corporate finance.
Mr. Kabot has served as the Chief Investment Officer of Stable Road Capital since July 2017. Prior to Stable Road Capital, Mr. Kabot was Director of Research at Eschaton Opportunities Fund from May 2016 to July 2017. Prior to Eschaton Opportunities Fund, Mr. Kabot was a founding partner of Riverloft Capital, and served as a Deputy Portfolio Manager from January 2011 to April 2016. Mr. Kabot has over 18 years of principal investing experience on Wall Street. Mr. Kabot received a Bachelor of Science degree in Finance and Accounting from Cornell University’s School of Hotel Administration. Mr. Kabot is qualified to serve as a director because of his diverse experience as a principal investor on Wall Street. In addition, the investment in our company by an affiliate of Stable Road Capital should also align Mr. Kabot’s interests with those of our other stockholders.
Scott E. Peterson
Mr. Peterson was most recently the co-founder and Chief Investment Officer of Digital Realty Trust Inc., from April 2014 to May 2018, where he was responsible for evaluating all capital allocation decisions. Prior to his role as Chief Investment Officer at Digital Realty Trust, Mr. Peterson served as its Chief Acquisitions Officer from November 2010 to April 2014. Prior to Digital Realty, Mr. Peterson served as the Managing Director of GI Partners, LLC. Mr. Peterson received a Bachelor of Arts degree in Economics, and a Master of Business Administration degree, each from Northwestern University. Mr. Peterson is qualified to serve as a director because of his extensive real estate experience, which includes real estate investments, development and asset management.
Kenneth T. Lombard
Mr. Lombard has served as Executive Vice President and Chief Operating Officer of Seritage Growth Properties, a publicly-traded, self-administered and self-managed REIT with properties totaling approximately 39 million square feet of space across 49 states and Puerto Rico, since May 2018. Prior to Seritage Growth Properties, Mr. Lombard was President of MacFarlane Partners, a real-estate investment management and development firm that acquires and manages properties on behalf of some of the world’s largest pension plans and institutions, from January 2015 to April 2018. Prior to MacFarlane Partners, Mr. Lombard was President of Capri Urban Investors, LLC, a Partner at Capri Capital Partners, LLC, and a member of Capri’s Investment Committee, from 2010 to 2015, where he was responsible for equity and structured finance investments as well as asset management for that firm. Mr. Lombard also helped launch Johnson Development Corporation in 1992, and spent 12 years as the President and a Partner, where he was instrumental in fulfilling that company’s mission to become one of the nation’s foremost urban development companies. During his time at Johnson Development Corporation, Mr. Lombard negotiated numerous partnerships that brought entertainment complexes, coffee houses, restaurants, and retail centers to minority communities in more than 65 cities and 17 states. Mr. Lombard received a Bachelor of Arts degree in Communication from the University of Washington. Mr. Lombard is qualified to serve as a director because of his extensive experience in business development, management, investment banking, economic development, corporate expansion and real estate investment. Mr. Lombard is widely recognized for having led numerous successful real estate investments and business ventures that fostered economic improvement and urban renewal throughout the United States.
Ms. Kono was most recently a Partner and Chief Information and Risk Officer of Ares Management LLC from 2007 to 2018, where she was instrumental in developing a platform in preparation for its dramatic growth from $18 billion in assets to over $100 billion in assets. At Ares, Ms. Kono oversaw the implementation all of its core systems, created and chaired the Enterprise Risk Committee, and oversaw the implementation of Ares’ first Cyber Security and Risk Analytics programs. Prior to Ares, Ms. Kono was Head of Application Development at Western Asset Management, where she focused on fixed income asset classes, from 2001 to 2007. At Western Asset Management, Ms. Kono managed every system, both commercial and proprietary, and supported the business in scaling from $200 billion to $650 billion in assets. Ms. Kono received a Bachelor of Science degree in Business Administration with an emphasis in Finance from Boston University, and a Master in Business Administration degree from University of Southern California. Ms. Kono is qualified to serve as a director because of her significant experience in corporate strategy, corporate governance, cyber security program design, mergers and acquisitions integration, workforce optimization, institutional due diligence, enterprise risk management, data analytics and systems implementation.
L. Spencer Wells
Mr. Wells has been a Partner at Drivetrain Advisors, an advisory firm providing fiduciary services to members of the alternative investment community, since co-founding Drivetrain Advisors in 2013. Prior to cofounding Drivetrain Advisors, Mr. Wells was at TPG Special Situations Partners where he served as a Senior Advisor from January 2013 to July 2013, and as a Partner from September 2010 to January 2013. Prior to TPG Special Situations Partners, Mr. Wells was a Partner and a Portfolio Manager at Silverpoint Capital, L.P. from 2002 to 2009. Mr. Wells received a Bachelor of Arts degree in Psychology from Wesleyan University, and a Masters of Business Administration degree from Columbia Business School. Mr. Wells is qualified to serve as a director because of his extensive experience as a director of various companies and as an investor in the alternative investment community.
Charles R. Holzer
Mr. Holzer has served as a director of his family owned real estate companies for more than 25 years, where his responsibilities have included the acquisition, financing, development and management of approximately $750 million in various real estate properties; the creation, operation and eventual sale of a nationwide commercial mortgage finance company; and the purchase of various non-performing loan packages from the Resolution Trust Company and other financial institutions. Mr. Holzer also supervises the retail division of one of his family owned real estate companies, where representative tenants have included Louis Vuitton, Chanel, Van Cleef and Arpels. Mr. Holzer has previously served on the board of the Equus Foundation and has been a trustee of the Rogal Foundation, a charitable trust, since 2002. Mr. Holzer received a Bachelor of Arts degree in English Literature from Harvard University. Mr. Holzer is qualified to serve as a director because of his extensive real estate experience, which includes real estate investments and development.
Mr. Trauben has been a Partner at Altitude Investment Management, LLC since 2017. Prior to Altitude Investment Management, LLC, Mr. Trauben was a Senior Managing Director and Head of Capital Markets for Hunt Mortgage Group (a wholly owned subsidiary of Hunt Companies) from 2015 to 2016. Prior to Hunt Mortgage Group, Mr. Trauben held senior level positions in the real estate groups at Barclays and Credit Suisse. At Barclays, Mr. Trauben was a Managing Director and Head of Subordinate Debt & Large Loan Originations from 2011 to 2015, and he held a similar position at Credit Suisse from 2002 to 2010. Mr. Trauben received a Bachelor of Arts degree in Political Science from Rutgers University. Mr. Trauben is qualified to serve as a director because of his over 25 years of experience as a commercial real estate investor and capital markets and finance executive on Wall Street.
1. Capitalization Rate Range: 9% – 13%
2. Lease Term: 10 years, NNN, with two 5-year options
3. Annual Escalators: 3.0%
4. Terms: Cash or Stock
Cultivation / Production
1. Capitalization Rate Range: 12% – 15%
2. Lease Term: 20 years, NNN, with two 10-year options
3. Annual Escalators: 3.0%
4. Terms: Cash or Stock