Six-license California cannabis portfolio under active ownership and compliance management.
Ongoing portfolio-level oversight of six DCC licenses across retail, distribution, and microbusiness categories. Includes ownership restructuring under DCR/LAMC 104.20 transfer restrictions and ongoing council-side engagement on a potential ordinance amendment.
Portfolio remains in good standing; restructuring satisfies DCR transfer restrictions while preserving original equity economics.
The DCR/LAMC 104.20 framework prevents transfer of Social Equity Applicant ownership for a defined period, which on its face traps capital. The practice restructured the operating agreement to satisfy the regulatory transfer restriction while preserving the original equity economics through Restricted Equity Interest provisions and Manager-only consent rights — solving the regulatory problem without sacrificing the commercial one.