Pelorus has currently secured more $150M for new closings.
NEWPORT BEACH, CA (February 21, 2020)- Pelorus Equity Group, a cannabis-focused investment bank that specializes in providing value-add lending secured by real estate assets, today announced record growth for Pelorus Fund, its cannabis-focused commercial real estate fund that lends on commercial buildings and allows for cannabis-related tenants. The fund reported its most recent Q4 distribution of 20.4% and 15.5% internal rate of return (IRR) for 2019. Launched in 2018, the Pelorus Fund targets real estate-based financing opportunities with properly licensed and established cannabis businesses that have the required state and local operating licenses and permits. Pelorus has secured more $150M in the pipeline for new cannabis-related closings this year.
Coming off of a year of tremendous growth, Pelorus notably partnered with the Family Office Networks (FON) and their affiliated broker-dealer, Entoro Securities, to assist in the capital raise for the $100M Pelorus Fund. In addition to Pelorus Fund’s 2019 returns, Pelorus Equity Group has also originated more than $65M in commercial loans with cannabis tenants since 2016.
“Pelorus Fund was able to gain significant returns and momentum despite last year’s turbulent market,” said Dan Leimel CEO of Pelorus. “We see a distinct demand for our cost-efficient real estate capital and are confident that our services can guide the industry through this period.”
Pelorus has lent to provide the build-out for the tenants of some of the most visible CPG, medical and manufacturing companies in cannabis, including Canndescent, Growpacker, Harborside, Tikun Olam and a facility with one of the largest publicly traded pharmaceutical companies in the world.
ABOUT PELORUS EQUITY GROUP
Pelorus Equity Group offers a range of innovative transactional solutions addressing the diverse needs of real estate investors and portfolio managers. Our flexible acquisition and bridge lending programs are the direct result of our involvement in more than 5,000 transactions of varying size and complexity. Since 1991, our principals have participated in more than $1 billion of real estate investment transactions using both debt and equity solutions. We draw on our extensive experience to rapidly understand an opportunity, structure a logical solution and execute a timely close.