Cannabis industry real estate investment trust Innovative Industrial Properties (IIP) announced a $40 million acquisition and leaseback deal for a Tilt Holdings marijuana production facility in Taunton, Massachusetts.
Marijuana industry real estate investment trust NewLake Capital Partners announced it secured a five-year revolving credit facility worth $30 million, with the possibility of expansion to $100 million “as additional lenders are added.”
Marijuana real estate investment trust Innovative Industrial Properties announced $45 million worth of funding to privately held multistate cannabis operator PharmaCann to expand its New York facility.
A short seller activist group has gone on the attack against San Diego-based Innovative Industrial Properties, saying the company’s real estate portfolio based on acquiring cannabis properties and leasing them back to operators “appears to have degraded significantly.”
Real estate investment trust Innovative Industrial Properties said it acquired a portfolio of 27 cannabis properties in Colorado, North Dakota and Pennsylvania for $72.7 million excluding transaction costs.