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IIPR reaches deal with PharmaCann to resolve lease default

Innovative Industrial Properties (NYSE: IIPR) said it reached an agreement with multistate operator PharmaCann to resolve defaults on leases for 11 properties, as the cannabis real estate investment trust faces more scrutiny over its tenant disclosures. The deal, which became effective Tuesday, includes rent reductions and property transitions in key …

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Scotts Miracle-Gro aims to break up with Hawthorne as growth prospects dim

Scotts Miracle-Gro Co.’s (NYSE: SMG) leadership team is finally unified behind plans to separate its Hawthorne cannabis unit, with first steps possible within the next couple months, executives announced during a Wednesday earnings call. The decision is a reversal for CEO Jim Hagedorn, who previously defended keeping the now-profitable division …