Cannabis REIT IIPR Buys Florida Property For $43M With Reconstruction Reimbursement, Expands Lease With Ayr Wellness
Cannabis REIT IIPR Buys Florida Property For $43M With Reconstruction Reimbursement, Expands Lease With Ayr Wellness
Cannabis REIT Innovative Industrial Properties, Inc. (NYSE:IIPR) confirmed Monday it has closed on the acquisition of a 16-acre property comprising 145,000 square feet of industrial space in Ocala, Florida. Under the deal, it has entered into a long-term, triple-net lease with a subsidiary of AyrWellness Inc. (OTCQX:AYRWF).
纽交所大麻股房地产投资信托公司Innovative Industrial Properties, Inc. (NYSE:IIPR)证实，周一关闭了对佛罗里达州奥卡拉（Ocala）一块占地16英亩、由145,000平方英尺工业空间组成的地产的收购。根据交易，它已与AyrWellness Inc.（OTCQX：AYRWF）的子公司签订了长期三重净租赁合同。
The purchase price for the property was $13.0 million ($90 per square foot). Ayr is expected to redevelop one building on the property comprising 98,000 square feet of industrial space for expected use as a regulated cannabis cultivation facility upon completion, for which IIP has agreed to provide reimbursement of up to $30.0 million. Assuming full reimbursement for the construction, IIP's total investment in the property is expected to be $43.0 million (excluding transaction costs).
该物业的购买价格为1300万美元（每平方英尺90美元）。预计Ayr将在物业上重新开发一个包含98,000平方英尺工业空间的建筑，在完成后预计将用于监管的大麻种植设施，对此，IIP同意提供最高3000万美元的报销。假设全额报销建设费用，IIP在该物业的总投资预计将达到4300万美元（不包括交易成本）。
In addition to this property, IIP owns and leases to Ayr one processing facility in Ohio comprising 11,000 square feet.
除了这个物业，IIP还拥有并出租了一处位于俄亥俄州的加工设施，占地11,000平方英尺，租赁给Ayr。
Huge Potential In Florida
佛罗里达州的巨大潜力。
Ayr, a vertically integrated cannabis operator in the U.S, operating in eight states with 18 production facilities and 91 dispensary locations. Recently, the company disclosed its first quarter 2024 total revenues of $118 million and adjusted EBITDA of $29 million. In the Sunshine State alone, Ayr operates 64 dispensary locations, with 745,000 square feet of existing production capacity (excluding this property).
Ayr是美国的垂直整合大麻运营商，在8个州开展业务，拥有18个生产设施和91个药店。最近，公司披露了2024财年第一季度的总收入达1.18亿美元，调整后的EBITDA为2900万美元。仅在阳光州，Ayr就经营着64个药店，拥有745,000平方英尺的现有生产能力（不包括这个物业）。
Florida represents the largest medical-use cannabis market in the United States, with the program having received 71% voter approval in 2019. According to the Florida Office of Medical Marijuana Use (OMMU), as of May 31, 2024, there were over 880,000 qualified patients and over 2,300 qualified physicians in the medical-use cannabis program, and BDSA reported 2023 regulated sales of $2.6 billion. Floridians are expected to vote on adult-use legalization of cannabis in November 2024, which requires 60% approval to pass. Under the initiative, existing licensed medical cannabis operators are expected to be authorized to sell cannabis to adults for personal use. The Florida state legislature could provide the licensure of other entities to cultivate and sell cannabis for adult use.
佛罗里达州代表美国最大的医用大麻市场，2019年该计划获得71%的选民支持。根据佛罗里达医疗大麻管理办公室（OMMU）的数据，截至2024年5月31日，医用大麻计划有超过88万合格患者和超过2,300名合格医生，BDSA报道2023年的受监管销售额为26亿美元。预计佛罗里达人将在2024年11月投票通过大麻成年人使用的合法化，需要60%的批准率通过。在此倡议下，预计现有持牌医用大麻运营商将获得授权，向成年人出售大麻以供个人使用。佛罗里达州立法机构可能会颁发许可证给其他实体，种植和销售成年人使用的大麻。
Price Action
股价变动
IIPR shares traded 0.78% lower at $106.05 during Monday's pre-market session.
在周一的盘前交易中，IIPR股票下跌0.78%，报106.05美元。
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Photo: Courtesy of HTWE via Shutterstock
图片：HTWE通过Shutterstock提供