After selling his cannabis company for over $800 million, Josh Joseph is creating a new home-grown business empire focused on real estate, sports, entertainment and music. Even as weed stocks have plummeted from their highs, some of the early pot-trepreneurs who cashed out at the peak are now turning their cannabis fortunes into family offices and diversified portfolios.
Before founding Grassroots with his three partners in Chicago, Joseph worked in commercial real-estate handling distressed sales and restructurings. His commercial real-estate expertise helped Grassroots find top locations around the country at lower prices than many competitors, as well as structure favorable loans and leases. Now, Big Plan is teaming up with cannabis retailer Silver Therapeutics to buy $35 million of marijuana-related commercial real estate in New England.