comlb
Lieutenant
Posts: 69
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Post by comlb on Aug 15, 2022 13:17:52 GMT
REIT pure play on cannabis production- 109 properties in 19 states. Run by founders of Alexandria Real Estate and BioMed Realty (so they have experience building REITs in emering industries)
Two layers of additional risk- 1) brand new emerging industry where the laws are still being written. 2) recently 4th largest tenant defaulted due to difficulty in operating in CA. Question is- is the long term story good enough, and is a 7% yield compensating for the additional risk factors?
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