Medical marijuana has become an enormously profitable industry, which is not only evident in the massive figures generated (legally) last year (US $6.7 billion in North America) but also in its projected annual growth rate of a staggering 25%. There are currently an estimated 5,000+ state-licensed medical marijuana growers operating across North America and with the industry’s projected growth, this number is expected to steadily increase, even more so as local governments pass ordinances and issue permits to generate much-needed revenue.
It would seem to be a simple equation: more state-licensed medical marijuana growers = the greater need for real estate. But it’s not that simple. Consider the fact that even though medical marijuana is legal in 28 states and Washington D.C., this natural resource is still a Schedule 1 substance in the eyes of the federal law. This sets up a web of laws and restrictions the average grower has to navigate in order to locate real estate they can use for growing and harvesting their crops. Working with a federally illegal substance imposes a myriad of other challenges and obstacles on growers, not the least of which is a lack of co-operation from banks and traditional real estate agencies and therefore, denial to capital access.
The outcome of all these limiting factors is that medical marijuana growers need to back up their budding enterprises with a huge capital investment (typically without assistance from banks) or close their doors. Fortunately, there’s a new company in the marketplace and it’s offering medical marijuana growers the financial breathing room they need to become established in this flourishing industry by providing real estate management and development services. This company, Fusion Properties Management Group (FPMG), with real estate expert Kendell Lang as the founder and CEO, is paving the way to success for many licensed growers.
About Fusion Properties Management Group
“FPMG is a real estate development and asset management company that is focused on facility development, ownership and management for government-licensed and city-permitted growers of medical marijuana,” says real estate professional, Kendell Lang. “Our business is modeled after the highly successful Real Estate Investment Trust (REIT) formula in the life science industry and our main drive is to provide cost-effective capital to medical marijuana growers so they aren’t having to use their capital for real estate investments.”
According to Kendell Lang, some of the services offered by FPMG include the selection, planning, development and management of sites, property, assets, construction, facilities, equipment and energy systems, as well as arranging permits and sourcing and structuring finances.
“Essentially, FPMG finds our clients real estate, which is licensed for cultivation of medical marijuana, in their area. This is a huge obstacle out of the way. We can then either build turnkey growing facilities and warehouses for them, or perform any necessary upgrades to the existing buildings,” explains real estate expert, Kendell Lang.
“Another facet of our service is to purchase real estate from medical marijuana growers and then lease it back to them at highly affordable rates. This returns to them all the capital they previously had locked up in real estate, which they can then use more profitably to drive and expand their operation.”
These comprehensive real estate services are providing immense relief to medical marijuana growers who are already heavily burdened with challenges. The ability to source licensed real estate or sell existing property to gain access to capital is breathing life into the industry at a grassroots level. More than ever before, there is hope for the MMJ growers to be able to fund a successful operation. If you are a state-licensed medical marijuana cultivator or manufacturer, you’re encouraged to submit your project to real estate expert Kendell Lang for consideration.
Contact Real Estate Expert Kendell Lang
CEO & Principal Investor
FUSION PROPERTIES MANAGEMENT GROUP, INC.
Oriental Center, Suite P1 | 254 Munoz Rivera Avenue | San Juan | Puerto Rico | 00918
Phone: +1 760 445 3315