Duane Morris partner Michael Schwamm was quoted in an article on WealthManagement.com.
The past few years have brought cannabis legalization to multiple states, giving real estate investors a new alternative asset class to put their money into. It looks like this trend is only going to intensify in the months ahead.
As we get further into 2022, all U.S. states without current medical cannabis legalization are now considering legislation or ballot initiatives to legalize it. In addition, some states where medical cannabis is already legal may take the next step this year to allow adult recreational use. […]
Twenty-one additional states may legalize cannabis use in some form this year, according to Michael Schwamm, a partner in the New York office of the law firm Duane Morris. […]
“Real estate investing (along with ancillary services) is often the entry point for many investors,” Schwamm adds. “As the industry continues to gain acceptance, I am seeing more and more traditional real estate investors taking a look at this market as they are able to get higher returns in the cannabis sector vs. other [real estate] markets.”
To read the full text of this article, please visit the WealthManagement.com website.