Cannabis is showing up in more CRE conversations than ever, and most of the people having those conversations are figuring it out as they go. The asset class looks familiar enough on the surface that standard deal instincts seem to apply. They rarely do.

Jennifer Cabrera and Sahar Ayinehsazian have guided landlords, lenders, and investors through enough of these deals to know where the assumptions break down. The financing options exist but require a different approach to find. The regulatory framework is specific enough that getting local counsel early changes outcomes. And the market is maturing in ways that are creating real opportunity for the people paying attention.

In this episode of The Dealmakers' Edge, Aaron Strauss is joined by Jennifer Cabrera and Sahar Ayinehsazian to discuss what landlords need to know before signing a cannabis lease, how lenders are approaching cannabis-related properties, and where the real opportunities are as more state markets mature. For a deeper dive into the regulatory outlook for the year ahead, Jennifer and Sahar are hosting a webinar on April 21st.

3:09 - Retail leasing trends and what makes a cannabis-zoned property valuable

5:01 - The landlord, lender, and tenant triangle and why transparency with your lender matters

8:08 - How to find a bank willing to finance a cannabis-related property

9:45 - Financing options for operators and sponsors without institutional backing

13:35 - What a cannabis lease actually needs to cover and why standard counsel isn't enough

16:03 - Local approval in New Jersey and why planning boards get it wrong

19:07 - Building lease exit provisions for regulatory surprises outside anyone's control

20:42 - Default post-occupancy and the opportunity a departing cannabis tenant can leave behind

23:31 - Why cannabis operators have no bankruptcy protection and what landlords should plan for instead

25:56 - The unlicensed market problem and what happened in Los Angeles

30:13 - Landlord liability for unlicensed cannabis tenants

31:36 - Advertising restrictions for cannabis and what billboard and signage owners need to know

34:08 - When to call cannabis counsel and what it actually costs to wait

37:29 - Market maturation, the liquor store model, and the hemp beverage loophole closing

41:21 - Why market maturation is improving the quality of cannabis investment opportunities

Mentioned In Cannabis Law and Commercial Real Estate with Jennifer Cabrera and Sahar Ayinehsazian

A.Y. Strauss | LinkedIn

Jennifer Cabrera on LinkedIn

Sahar Ayinehsazian on LinkedIn

Sign up for the April 21st webinar - A.Y. Strauss Presents: The 2026 Cannabinoid Compass: Legal, Compliance & Regulatory Concerns

Enjoy the show? Have a guest in mind? Email us at podcast@aystrauss.com to let us know your feedback and who you want to hear on the next episode.

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