Marijuana REIT to invest up to $15M in Maryland cultivation site
Innovative Industrial Properties, a cannabis-focused real estate investment trust (REIT),
said it has agreed to purchase a partially developed property in Capitol Heights, Maryland, and plans to invest up to $15 million in a medical cannabis cultivation facility there.
The building on the site, once completed, is expected to total about 72,000 square feet.
Based in San Diego, Innovative Industrial Properties buys medical marijuana-related facilities and leases them out.
According to a press release, the company plans to enter into a long-term lease agreement with Holistic Industries, which intends to use the facility as the only medical cannabis
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