12/12/2019 | By Nareit Staff
Don Brain, co-founder, chairman, and CEO of Freehold Properties, Inc., participated in a video interview at Nareit’s REITworld: 2019 Annual Conference in Los Angeles.
Freehold Properties was formed this year to be a capital markets real estate partner for the cannabis industry, Brain explained. He noted that it is an emerging market in the United States that now has some level of legality in 30 states. However, it’s also an industry that is not federally eligible for banking, he said.
Investors are reacting positively to Freehold’s strategy, Brain said. “They view it as a once-in-a-generation opportunity to invest in a space that they know will be a large economic sector,” he noted.
“There are significant growth opportunities and if we have adequate capital, we can close on $100 million to $200 million of additional real estate in the next year,” Brain said.