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.
Jeff Smith
Jeff Smith's Latest Posts
Marijuana MSO Curaleaf raises record $425 million from 8% debt financing
Marijuana multistate operator Curaleaf Holdings said it has received commitments for a privately placed debt raise of $450 million – the largest yet for a U.S. cannabis company – while securing an interest cost that is among the lowest in the industry.
Arizona’s cannabis market is booming, but social equity concerns linger
Cannabis sales in Arizona are thriving nearly a year after the state’s adult-use program launched, but some industry officials fear smaller operators, including social equity license holders, risk getting swallowed by big companies.
Colorado cannabis sales drop for third consecutive month
Cannabis sales in Colorado have declined for three months in a row and are off nearly 12% compared to the same period a year ago, according to state data for October.
Montana scrambles to finish rules by Jan. 1 recreational marijuana launch
Montana lawmakers and recreational marijuana regulators are still trying to agree on final rules as a Jan. 1 sales launch date rapidly approaches.Â
Vermont eschews restrictive adult-use cannabis labeling, potency cap
Vermont recreational cannabis regulators decided against more restrictive product warning labels and a THC potency cap advocated by a state doctors group.
New Jersey approves 30 more medical cannabis dispensaries
New Jersey continues to make big moves to strengthen the state’s medical cannabis market in anticipation of launching recreational sales in 2022.
CA tech firm to help manage South Dakota’s medical cannabis licensing
A California-based technology company said it has been selected to help manage South Dakota’s emerging medical cannabis program.
States escalate microbusiness cannabis licenses as ‘hedge’ against MSOs
More states are offering microbusiness licenses to cannabis entrepreneurs in an effort to diversify a market that some fear could become dominated by large, deep-pocketed multistate operators.
Michigan marijuana testing lab wins split decision over massive recall
A Michigan marijuana testing laboratory won half of its claim against state regulators over a Nov. 17 recall that the company said involved $229 million worth of flower and 403 retailers.
Pennsylvania’s review of vaporized medical cannabis products heats up
Controversy over a Pennsylvania review of medical marijuana vape products has mushroomed, with regulators warning that some products could be removed from the shelves, grower/processors contemplating legal action against the state and 630,000-plus patients in the dark about what to do.
Treasury Secretary Yellen gives nod to marijuana banking reform
Treasury Secretary Janet Yellen expressed implicit support this week for allowing state-legal marijuana companies to access federal banking services – as a way to help tax collection.
