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This REIT only operates in the medical cannabis industry, a far more widely legalized and regulated market compared to the recreational one. The company took on some costs for property managementfees it had to pay for properties it took back possession of, as well as costs associated with reclassifying leases on two properties.
Operating expenses increased by $112 million due to an increase in full-time globally positioned talent, continuous improvements to our technology and data infrastructure, and the development of our investment science capabilities. Our operating expense ratio was 28.6 basis points (bps), which is below the five-year average of 29.0
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