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For a Cool $95 Million, You Can Buy Two Florida Medical Marijuana Licenses
news
  |  
Oct 16, 2019

For a Cool $95 Million, You Can Buy Two Florida Medical Marijuana Licenses

A pair of state-approved medical cannabis licenses would allow the owner to operate 65 dispensaries, but it will cost nearly $100 million to get in on the green rush.

Getting into the Florida medical marijuana industry has never been easier — that is, as long as you have a spare $95 million handy.

According to a new report from the Miami Herald, a sales broker working out of Atlanta is currently hawking two fully functional medical marijuana licenses that would allow the operation of cultivation facilities and 65 total dispensaries across the state, as well as ownership of a greenhouse as an added bonus. If you ask seller Aubrey Logan-Holland, the CEO of the aptly named firm Blue Dream Industries, the deal is a green rush no-brainer.

“Whoever acquires this asset will get a chance to stake their claim in one of the biggest medical markets in the world,” Logan-Holland told the Miami Herald. “It’s a good state to do business.”

Florida’s medical marijuana industry is a difficult and exclusive club to join when it comes to licensing, with only 22 total permitted businesses and only 13 active. Logan-Holland said that the licenses for sale are from one of the state’s inactive operators, but would not say which due to a confidentiality agreement. 

From a buyer’s perspective, though, the two licenses hitting the market for $40 million and $55 million each are a few months late and more than a few dollars too pricey. 

Gallery — Weed Porn and Cannabis Up-Close:

“The acquisitions are not as attractive as they were last year,” Jeff Sharkey, a lobbyist and director of the state’s Medical Marijuana Business Association, told the Herald. “All of [Florida’s licenses] have been shopped for sale, to my knowledge.”

Since Florida’s medical marijuana program requires license-holders to operate all aspects of the growing and supply chain in a vertically integrated system, running a Sunshine State cannabusiness requires huge amounts of cash and organization. And while that may be appealing to a number of deep-pocketed multi-state pot businesses, local cannabis lawyer John Lockwood told the Herald that most of those companies — including Curaleaf, Trulieve, and Surterra — are already up and running in Florida.

“There’s not too many people out there with $50 million that haven’t heard of the Florida cannabis market,” Lockwood said.

Follow Zach Harris on Twitter

zachharris

Zach Harris is a writer based in Philadelphia whose work has appeared on Noisey, First We Feast, and Jenkem Magazine. You can find him on Twitter @10000youtubes complaining about NBA referees.

WATCH MORE FROM MERRY JANE
For a Cool $95 Million, You Can Buy Two Florida Medical Marijuana Licenses

For a Cool $95 Million, You Can Buy Two Florida Medical Marijuana Licenses

  |  
news
  |  
Oct 16, 2019

A pair of state-approved medical cannabis licenses would allow the owner to operate 65 dispensaries, but it will cost nearly $100 million to get in on the green rush.

Getting into the Florida medical marijuana industry has never been easier — that is, as long as you have a spare $95 million handy.

According to a new report from the Miami Herald, a sales broker working out of Atlanta is currently hawking two fully functional medical marijuana licenses that would allow the operation of cultivation facilities and 65 total dispensaries across the state, as well as ownership of a greenhouse as an added bonus. If you ask seller Aubrey Logan-Holland, the CEO of the aptly named firm Blue Dream Industries, the deal is a green rush no-brainer.

“Whoever acquires this asset will get a chance to stake their claim in one of the biggest medical markets in the world,” Logan-Holland told the Miami Herald. “It’s a good state to do business.”

Florida’s medical marijuana industry is a difficult and exclusive club to join when it comes to licensing, with only 22 total permitted businesses and only 13 active. Logan-Holland said that the licenses for sale are from one of the state’s inactive operators, but would not say which due to a confidentiality agreement. 

From a buyer’s perspective, though, the two licenses hitting the market for $40 million and $55 million each are a few months late and more than a few dollars too pricey. 

Gallery — Weed Porn and Cannabis Up-Close:

“The acquisitions are not as attractive as they were last year,” Jeff Sharkey, a lobbyist and director of the state’s Medical Marijuana Business Association, told the Herald. “All of [Florida’s licenses] have been shopped for sale, to my knowledge.”

Since Florida’s medical marijuana program requires license-holders to operate all aspects of the growing and supply chain in a vertically integrated system, running a Sunshine State cannabusiness requires huge amounts of cash and organization. And while that may be appealing to a number of deep-pocketed multi-state pot businesses, local cannabis lawyer John Lockwood told the Herald that most of those companies — including Curaleaf, Trulieve, and Surterra — are already up and running in Florida.

“There’s not too many people out there with $50 million that haven’t heard of the Florida cannabis market,” Lockwood said.

Follow Zach Harris on Twitter

zachharris

Zach Harris is a writer based in Philadelphia whose work has appeared on Noisey, First We Feast, and Jenkem Magazine. You can find him on Twitter @10000youtubes complaining about NBA referees.

WATCH MORE FROM MERRY JANE