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In 2023- Cbdganjah, Marijuana REIT Innovative Industrial Properties reports a$ 164.2M earnings.

7.28.23 AdobeStock 535767609 real estate

Modern Industrial Properties ( IIP), a real estate business focused on the pot business, reported$ 164.2 million in net income for its frequent owners for the whole fiscal year 2023.

For the fiscal year that ended December 31,$ 309.5 million in revenue, an increase of 12 % over IIP’s revenue from 2022, was the full-year profit.

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IIP’s yearly income was$ 7.22 per reveal, including a$ 1.82 per promote dividend for the third quarter.

Real estate investment trust ( REIT ) with a San Diego headquarters reported fourth-quarter net income of$ 41.3 million and quarterly revenue of$ 79.2 million, an increase of 12 % over the same quarter in 2022.

IIP claimed to have collected 100 % of the book and property management fees from its cannabis industry tenants during the third quarter.

Rent set even remained at 100 % throughout the project.

Read complete essay on Marijuana Business Daily.

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