ROCHESTER, N.Y., June 24, 2021 (GLOBE NEWSWIRE) -- 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, CEO
RedChip Companies Inc.
407-491-4498
Dave@redchip.com
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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.