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In credit-strapped medical pot world, Illinois firms may tap real estate for cash

Medical cannabis company PharmaCann cashed in recently on one of its cultivation facilities, and in the capital-strapped world of medical marijuana, it likely won’t be the last to turn to its real estate for funds.

The Illinois-based company sold its cultivation facility in Hamptonburgh, N.Y., to Innovative Industrial Properties, the first publicly traded medical cannabis-focused real estate investment trust, or REIT, and then signed a 15-year lease for the building, with options to extend.

Sale and lease-back deals have long been a way for companies to access capital. Sears Holdings, for example, has used the strategy in recent years as it struggles to stay afloat amid changing consumer demands.

Read More at ChicagoTribune.com 

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