ByGeorge Ryan|Sep 15, 2020|Industry News, Local Real Estate, News
By Dan Mika — September 10, 2020
LOUISVILLE — Alternative media streaming company Gaia Inc. (Nasdaq: GAIA) has sold off half of its headquarters for $13 million in order to pay down debt.
In a statement, the Louisville company said it sold half of the office space at its headquarters at 833 W. South Boulder Road that it said was unoccupied to a “strategic real estate investor.” The company did not identify the buyer, and no property sales have been recorded at that building with the Boulder County Recorder’s office as of Thursday afternoon.
The company expects to use the proceeds to pay off much of the $16.75 million in long-term debt it had on its books as of the end of June.
Gaia is a streaming service offering content about yoga and expanding consciousness. The company posted a $2.52 million loss last quarter, but believes it is on pace for profitability due to ongoing demand for content at home.