Cannabis panel at CCIM's recent Global Conference held here in San Diego.
SAN DIEGO—According to panelists at the recent CCIM Global conference, from a commercial real estate investor perspective, access to capital remains "a real challenge" for cannabis real estate. According to panelists, the typical cannabis entrepreneur can't just go to a bank and ask for a small business loan. "There is no traditional access to debt."
The access to equity is as much of a problem too, panelists explained, with one noting that as long as it remains federally illegal, it will continue to operate a little shady, (in terms of what you do with cash). But according to Wendy Berger, CEO and president of WBS Equities, from a real estate perspective, that is exactly where the real opportunity is.
"Bringing real estate capital into the business as a form of financing is the opportunity," she said. "We need real estate investors and brokers in this business bringing capital to deals because we cannot go to banks. This lack of access to capital is creating inefficiencies. From chaos comes opportunities."
And the opportunity is tremendous, she adds. "Your pool of available properties is limited. If you are looking for a retail property, you have to do your due diligence ahead of time. And then you need to know your landlords. For the brokers and landlords out there, this is a real opportunity to add value to your clients. There is going to be significant opportunity for years to come for those who are willing to take the time and educated themselves."
Be sure to check out the related stories below on the subject.
Capitalizing on Cannabis, Understanding Zoning Remains Key
Northeast Governors Hold Cannabis and Vaping Summit
Policy Tailwinds Propel Cannabis REIT Stock for Years to Come
The Business Implications of Legalized Cannabis, Real Estate and Risks
Cannabis Industrial Facilities Generate Premium Rents
Local Municipalities Are Tackling Cannabis Regulation
How Cannabis Is Shaking Up San Diego's Industrial Market
Innovative Industrial Enters Into Long-Term Leases
Curaleaf Holdings Strikes Sale-Leaseback Deal on Six Cannabis Properties
CA Supreme Court Decision Proves There Is No Short Cut to CEQA
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