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Innovative Industrial Properties Expands Real Estate Partnership with PharmaCann at New York Property
December 14, 2020 GMT
SAN DIEGO (BUSINESS WIRE) Dec 14, 2020
Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it entered into an amendment of the lease with PharmaCann Inc. (PharmaCann) in Hamptonburgh, New York, making available $31.0 million in funding for significant enhancements in production capacity and additional upgrades at the 127,000 square foot facility. The lease amendment also adjusted the base rent under the lease to take into account the additional available funding and extended the term of the lease agreement. Assuming full payment of the additional funding, IIP’s total investment in the property will be $61.0 million. II
Author Bio
Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.
One of the very few marijuana stocks that pays a dividend,
Innovative Industrial Properties (NYSE:IIPR), has elected to raise its payout. The company announced after market hours Monday that it is lifting its quarterly distribution to $1.24 from the previous $1.17, for a nearly 6% increase.
Top Cannabis Stocks to Buy in 2021
Not sure how to invest in pot stocks? Here are six cannabis stocks picks that should see growth into the new year.
Author:
Original:
Dec 15, 2020
Weeding through cannabis stocks to find a good pick is getting easier. The greener field is now getting divided by flower and shake, as investors look at profitability and balance sheet stability.
Here are my top cannabis stock picks for 2021, based both on sprouting opportunities and results reported in the most recent quarter.
A Bigger Pot: Innovative Industrial Properties
The original cannabis real estate investment trust, Innovative Industrial Properties (
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