California Real Estate Company To Lend Another $18 Million To Cannabis Farm Near Lansing

DIMONDALE – The San Diego real estate firm Innovative Industrial Properties Inc, which focuses on the regulated cannabis industry, announced that it entered into an amendment of the lease with Green Peak Industries LLC in Dimondale, making available an additional $18 million in funding for expansion of its cannabis cultivation and processing at the property.

The lease amendment also adjusted the base rent under the lease to take into account the additional available funding and extended the term of the lease agreement. Assuming full payment of the additional funding, IIP’s total investment in the property will be $31 million.