Category: Press Releases


LA Weekly: This L.A. Investor Is Betting $100 Million on Legal Weed

Beverly Hills real estate firm Starpoint Properties said it plans to invest $100 million in California marijuana companies over the next 12 months. The news catapults Starpoint CEO Paul Daneshrad, a figure previously unknown in the industry, into the first tier of cannabis investors nationwide.

Daneshrad’s announcement, and a similar pledge out of Florida this week, comes as the industry is both expanding and trying to keep off the radar of weed-hating U.S. Attorney General Jeff Sessions.

Daneshrad said he’s not especially worried about the legal situation. While medical and recreational weed remain federally illegal, in a few years, he said medical marijuana will be available in 35 or 40 states. “Trump and Sessions are going to come in and say ‘okay 40 states we don’t agree with what you and your citizens want. No, you gotta listen to us?’ I don’t see that happening,” Daneshrad said.

If anything, Daneshrad sees the chilling effect Sessions has had on the market as tilting the field in his favor. “If you’re Goldman Sachs, or GE or Procter and Gamble, you can’t play, which we don’t mind,” he said. “I don’t mind barriers in the marketplace. It keeps some of the competition out.”

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MJ Biz Daily: California company plans to invest $100 million in cannabis sector

StarGreen Capital – a new subsidiary of a Southern California-based real estate investment firm – said Tuesday it plans to invest $100 million in California’s medical and recreational marijuana industries over the next year.

StarGreen Capital, a unit of Beverly Hills-based Starpoint Properties, said in a news release it will focus initially on working with cultivators, manufacturers and retailers. The company’s plan: buy, develop and lease real estate, expand operations and build cannabis consumer brands.

“We see tremendous opportunities for growth in the next 12 months,” Paul Daneshrad, CEO of both StarGreen and StarPoint, said in in the news release.

“Our focus is to invest $100 million in real estate and joint ventures over the next year to help cannabis entrepreneurs in every segment of the industry capitalize on this generational opportunity.”

Stargreen Capital’s parent, StarPoint, invests in commercial and multi-family properties in California, Colorado, Florida, Texas and Washington state. StarPoint said on its website it has acquired commercial and residential properties worth a total of more than $1 billion since the company was launched in 1995. The company said its current real estate portfolio totals $800 million.

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Cannifornian: Beverly Hills company pledges to invest $100M in California cannabis

By this time next year, a Beverly Hills-based firm says it will have invested at least $100 million into legal cannabis ventures in California.

StarGreen Capital plans to spread that $100 million between 15 to 25 startup or growing marijuana businesses, according to firm CEO Paul Daneshrad. The goal is to help those companies overcome persistent challenges the industry faces in accessing capital and real estate, and to help those businesses stay competitive as the Golden State’s cannabis market explodes.

“Our strategy is really to help grow the industry,” Daneshrad said.

News of the StarGreen Capital pledge came on the same day that Florida attorney John Morgan also committed to invest $100 million in legal cannabis.

If those pledges come to fruition, Troy Dayton, CEO of the industry research firm The Arcview Group, said it would put both StarGreen Capital and Morgan among the top five largest investors in the cannabis industry.

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MarketWatch: StarGreen Capital Will Invest $100 million Over the Next Year to Support Entrepreneurs in California’s Legal Medical and Recreational Cannabis Industries

BEVERLY HILLS, Calif., May 23, 2017 /PRNewswire/ — StarGreen Capital announced today its plans to invest $100 million over the next year in California’s legal medical and recreational cannabis industries. StarGreen will provide capital and business development services to qualified partners representing every segment of the industry from “seed to sale.” Initial areas of focus for investment will include partnering with cultivators, manufacturers and retailers to acquire, develop and lease real estate, expand operations, and build cannabis consumer brands.

The firm’s goal is to help entrepreneurs at every stage of growth capitalize on the generational growth opportunity in California’s legal cannabis industry. According to the market analysis firm AMR, North American consumers spent $6.9 billion on legal cannabis products in 2016, up 30 percent from $5.1 billion in 2015. California accounted for more than 30 percent of the legal cannabis market in 2016 with some analysts projecting greater than 20 percent annual growth through 2021.

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Cannabis Daily Record: StarGreen Capitol to invest $100 million in California cannabis market

BEVERLY HILLS, Calif. – StarGreen Capital plans to invest $100 million over the next year in California’s legal medical and recreational cannabis industries.

StarGreen will provide capital and business development services to qualified partners representing every segment of the industry from “seed to sale.”

Initial areas of focus for investment will include partnering with cultivators, manufacturers and retailers to acquire, develop and lease real estate, expand operations, and build cannabis consumer brands.

The firm’s goal is to help entrepreneurs at every stage of growth capitalize on the generational growth opportunity in California’s legal cannabis industry. According to the market analysis firm AMR, North American consumers spent $6.9 billion on legal cannabis products in 2016, up 30 percent from $5.1 billion in 2015.

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StarGreen Capital Will Invest $100 million Over the Next Year to Support Entrepreneurs in California’s Legal Medical and Recreational Cannabis Industries

The firm will provide funding, real estate and business development services to cultivators, manufacturers and retailers in the rapid-growth industry

BEVERLY HILLS, Calif. – StarGreen Capital announced today its plans to invest $100 million over the next year in California’s legal medical and recreational cannabis industries. StarGreen will provide capital and business development services to qualified partners representing every segment of the industry from “seed to sale.” Initial areas of focus for investment will include partnering with cultivators, manufacturers and retailers to acquire, develop and lease real estate, expand operations, and build cannabis consumer brands.

The firm’s goal is to help entrepreneurs at every stage of growth capitalize on the generational growth opportunity in California’s legal cannabis industry. According to the market analysis firm AMR, North American consumers spent $6.9 billion on legal cannabis products in 2016, up 30 percent from $5.1 billion in 2015. California accounted for more than 30 percent of the legal cannabis market in 2016 with some analysts projecting greater than 20 percent annual growth through 2021.

“We see tremendous opportunities for growth in the next twelve months,” said StarGreen Capital CEO Paul Daneshrad. “Our focus is to invest $100 million in real estate and joint ventures over the next year to help cannabis entrepreneurs in every segment of the industry capitalize on this generational opportunity.”

Even though the industry is projected to grow aggressively in California and nationwide, cannabis entrepreneurs still face significant obstacles in starting and growing their businesses. These obstacles include a lack of access to capital markets and banking services, challenges identifying suitable real estate for purchase or lease, and a complex and evolving regulatory environment at the state and federal levels. StarGreen’s goal is to provide California’s cannabis entrepreneurs with the tools they need to overcome these challenges. The firm will provide its partners with ready access to institutional level capital and deep expertise in cannabis business operations, commercial real estate and brand strategy. Each joint venture will deploy a unique mix of business tools to put investment partners on a path to rapid growth.
To learn more about partnership opportunities with StarGreen Capital visit www.stargreencapital.com

About StarGreen Capital – We believe California’s emerging legal cannabis industry represents a generational growth opportunity for cultivators, manufacturers and retailers. StarGreen Capital is a catalyst for high potential legal cannabis businesses to achieve rapid growth by