While Innovative Industrial Properties (NYSE: IIPR) had been managing to stay ahead of nonpaying tenants, the cannabis real estate investment trust (REIT) is now suffering along side the rest of the cannabis industry. The reason? One of its largest portfolio holdings has joined the nonpaying cohort. And now shareholders are throwing in the towel. In […]
Cannabis real estate manager Innovative Industrial Properties (IIP) is claiming that multistate operator PharmaCann has defaulted on several of its leases across the country. IIP, a San Diego-based-headquartered real estate investment trust (REIT), alleges in a news release that PharmaCann defaulted on December rent obligations totaling $4.2 million on six properties located in Illinois, Massachusetts, […]
Cannabis real estate lenders are taking markedly different approaches to troubled credit and market headwinds lately, with some aggressively restructuring loans while others maintain a wait-and-see approach, according to earnings calls over the past week. While broader real estate stocks rallied on the Federal Reserve’s latest rate cut, with the Real Estate Select Sector SPDR […]
