Innovative Industrial Properties: Bull vs. Bear

Innovative Industrial Properties (NYSE: IIPR) carved out for itself a unique opportunity in the marijuana industry: Loaning pot companies money in exchange for taking over management of their real estate through sale-leaseback arrangements.

The real estate investment trust (REIT) has done for cannabis what similarly situated companies have done for residential housing, office space, retail, and even healthcare. Yet Innovative Industrial's service was even more vital to the industry because banks loaning money to pot stocks is currently illegal.

Yet it's not all blue skies and, um, green grass for the REIT. Here's why there's actually a bearish case for Innovative Industrial Properties alongside the bull thesis.

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Source Fool.com