Since early April, Innovative Industrial Properties has spent $100 million in order to buy cultivation and distribution facilities around the nation while providing cannabis operators with sorely needed cash. The San Diego-based real estate investment trust (REIT) doubled its cannabis industrial properties and now owns 61 cannabis industrial properties. As a result of the recent purchases, REIT’s real estate portfolio officially spans the nation, with facilities in Illinois, Massachusetts, Michigan, Pennsylvania, and elsewhere. As a sign of investor confidence, IIP also recently raised about $225 million in a stock offering, making the nation’s largest cannabis REIT that much bigger.
– Marijuana Business Daily, 08/14/2020 6:30:29 AM