The Weekly Multiple
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2021 Cannabis Industry Outlook: M&A, Capital Thaw and Global Opportunity
Cheddar – Legislative momentum in the legalization of cannabis is likely to build over thecoming year. However, a lack of federal legality combined with general economic turmoil leaves the industry capital constrained. With state governments in need of revenue and an incoming administration likely to favor further legalization, this combination of factors has led to a potentially fertile environment for savvy investors.
The Real Deal – Calling office buildings “the engines of our economy,” the governor of New York has announced a plan to get workers back to NYC offices in the coming months. Plans include establishing state-designated ‘orange zones’—geographic areas that meet certain statistical benchmarks—wherein offices, restaurants, and theaters would be allowed to reopen. Cuomo announced that major CRE operators have agreed to offer rapid COVID tests to tenants on a regular basis. By mid-november, only 25% of workers had returned to the office, a number that commercial owners hope to increase once these measures are implemented.
GlobeSt. – With several promising vaccines in the early stages of distribution, global markets are beginning to stabilize after a year of uncertainty and tumult, according to research by Cushman & Wakefield. While the pace and shape of recovery will undoubtedly vary across sectors and regions, signs that portions of the CRE market are nearing a recovery phase are beginning to emerge.
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