They were a Florida operator that we backed in November 2020 and provided capital to build out their Indiantown cultivation facility. The company was purchased by Cresco for $213 million a year later after we financed them. One of our lawyers called up his lawyer and said, Did you guys make an error? They said, No. The company was incorporated in 2020 and is based in West Palm Beach, Florida. In many ways, its approach is in between that of a Business Development Company and mREIT. RT: AFC Gamma is a commercial mortgage REIT. And another sits on another one of his company's boards. Mr. Kalikow is a graduate of the Wharton School of Business with degrees in Real Estate and Finance. And no obvious conflicts of interest. To summarize the analysis of the board, the CEO is chairman. Address: 101 Park Avenue, Suite 2602, New York, NY, 10178, United States Phone: 212-922-0222 Fax: 212-922-2121 Website: As for margins, theyre quite strong. And Beninati and his business partner Chris Jones had plenty of experience raising millions of dollars in financing, having overseen several large-scale development projects totaling $4 billion, according to the post-bankruptcy trial memorandum of decision dated Dec. 1, 2016. Its like a bunch of seventh graders picking a fight with a Navy Seal platoon. Everything depends on management's creativity, flexibility, and ability to execute. JB: Tell me more about the AFC Foundation. (Kalikow was insistent that he does not loan to own, even if that turned out to be the case for 3 Sutton Place. But some of the ridiculous things he was asking for led us to believe that he would never find a partner, Kalikow said, one example being a $50 million step-up in basis cashed-out to him. Learn More on AFC Gamma's active insiders. Is this happening to you frequently? We don't just want to be there for the company's first financing. We offer a flexible solution to meet the needs of our borrowers. AFC Gamma Inc.'s story has two major milestones, the first of which occurred on August 17, 2020. But it is obtaining very compelling internal rates of return on its loan investments. We include exclusive video so our members can get all of the latest and greatest insight and maximize portfolio performance. While not necessarily unusual, this potentially augments Leonard's already powerful decision-making ability even further. 101 Park Avenue, 11th fl. These companies can't even get bank accounts. Long-term, we would like to benefit the states that our borrowers operate in. Advanced Flower Capital Gamma (AFC Gamma) is one of the largest providers of institutional loans to cannabis companies nationwide in all aspects of production: cultivation, processing, and distribution. The DOB was doing their job. (Podcast). In this case, the fee to fire the external manager is three times the annual base management fee (1.5% of equity) and the annual incentive compensation (variable, but likely 2-6% of equity) based on the trailing 12-month period. RT: Many success stories have resulted from our funding and operators that we provided capital to build and expand their businesses. And AFC Gamma was created roughly half a year later in mid-2020. Bauhouse also alleged that Gamma had a different motivation than a traditional lender and seized greater control by refusing to fund the project in accordance with loan documents. Track your investments 24 hours a day, around the clock from around the world. We're very bullish on New Jersey as well. Not until the grandfather issue is resolvedone way around a zoning change would be to be grandfathered in to previous zoning lawsIm happy to take a profit because there is some deal fatigue. One of his reasons [for believing this] was that we had attended a meeting at the architects office, and my father sat at the head of the table, Kalikow recalled. LT: Throughout my career, I've been fortunate to have significant experience with taking companies public to date, I've taken four companies public, including AFC Gamma. When you're lending to a Verano or an Acreage, you're not just lending to one state; you're lending to multiple states. RT: Given our focus on limited license states, our two favorite medical markets, aside from Florida, currently are Ohio and Pennsylvania. The oldest executive at AFC Gamma is Mr. James F. Velgot, Chief Marketing Officer, who is 61 years old. Id make over a billion! , Kalikow added, It was very clear that the money was not nearly as important to him as his name in lights.. Jonathan specializes in catalyst-driven markets with high barriers to entry, which he now applies to Gammas nationwide opportunistic real estate investment and hard money lending strategies. While the war ensued in the Downtown courtroom, another battle was flaring up with 3 Suttons zoning approvals. The Sovereign has taken the laboring oar, no doubt, but there are many buildings that have contributed substantially., One would assume that some of the shine would come off 3 Sutton Place amid the war raging around it, but Kalikow isnt walking away. Bauhouse Group likely will not see any proceeds from sale of controversial East Side site If we move to a fast-growing, small mREIT like Arbor Realty (ABR), the situation isn't much different. [3] [4] He is also a voice artist. Like Beninati and Bauhouse, the Pilevskys did not respond to COs requests for comment. We are different from other lenders in two significant ways. Jonathan Gilbert Kalikow has not been actively trading shares of AFC Gamma during the past quarter. View Public Record Results ✓ Addresses. Background Report for Jonathan Kalikow. I have no business relationship with any company whose stock is mentioned in this article. A cheating husband strangled his wife after she found his 'dirty' text messages to other women when he passed out following a binge on Coors Light and Jack Daniel's. Serial cheat Jonathan Neale . Kalikow said he has been told that the ERFA, which has grown to include 45 buildings and roughly 2,600 individuals living within and outside the propsed rezoning area, spent $1.3 million to $1.4 million trying to fight 3 Sutton Places height, speculating the bulk came from residents of The Sovereign. Given this "unique" arrangement and its direct impact on AFC's decision making it's time to put on our institutional due diligence officer hat. Theyve also directly structured over $10 billion in loan transactions and taken three companies public. Get New Jersey Jewish News's Newsletter by email and never miss our top stories Free Sign Up Services were held Feb. 11 with arrangements by Bernheim-Apter-Kreitzman Suburban Funeral . Are there any particular markets or segments that you two are excited about and why? The lead director is affiliated rather than independent and appears to have a very close business relationship with the CEO. It generated $5.25 million in revenue from July 31 through December 31. Awards. Because of this, our expectations surrounding AFCG's pipeline and margins directly correlate with estimates of its fair value. This is impressive since the company didn't exist a year ago. Information on this page was last updated on 6/17/2022. It yields 8.3% despite more than doubling in price in the past 12 months from $6.67 to $16.16. Both are also externally managed but have very long track records and proven management teams. They changed the bankruptcy law for real estate in 2005 to say that if youre a single real estate asset its a faster trackso, you as the developer cant tactically declare bankruptcy and indefinitely hold up your lender, Kalikow explained. He agreesbut then goes radio silent.. Anything you build thats residential proximateis going to be expensive. Erykah Badu Talks Cannabis Line That Badu With Cookies, NCAA Basketball Odds 2023: West Coast, Sun Belt, Horizon, MVC Tip Off Conference Tournaments, Puff Puff Pass-Ing Covid? A zoning war is now underway with Sutton Place City Council officials and the surrounding community, which is fighting to cap the proposed developments height at 260 feet. Learn More on AFC Gamma's active insiders. Jonathan Kalikow President Gamma Real Estate Jonathan Kalikow serves as the President of Gamma Real Estate, an organization that he founded in 2015 to represent the fourth generation of his family's activity in real estate financing and development. A spokesman for the DOB said that between May 1 and Sept. 25, 18 DOB-related 311 complaints were made regarding the property. Photo: Sasha Maslov/for Commercial Observer, I believe in completely disproportionate retaliation, Jonathan Kalikow told Commercial Observer, like, Kalikow, the 47-year-old married father of four girls ages 8, 10, 12 and 17, is the president of, Still, Gamma Real Estate nevertheless found itself embroiled in a real estate battle and forced into the spotlight after it financed, The Kalikows arent exactly wet behind the ears when it comes to real estate lending. Were prepared to build it. So how is AFC Gamma helping cannabis companies gain access to capital and what do you offer them? It's not zero, but still. Mr. Kalikow is a graduate of the Wharton School of Business with degrees in Real Estate and Finance. Join iREIT on Alpha today and get a "front row seat" to our "March Madness" REIT Bracketology series where we break down each property sector to arrive at the "Sweet 16 REITs" to own. Do you know what youre doing? I think I said, You have to be kidding me? she said. WMR has a team of experienced multi-disciplined analysts covering all dividend categories, including REITs, MLPs, BDCs, and traditional C-Corps. Serial cheat Jonathan Neale, 40, fell asleep by his front door a But Id love to stay in., Thats not to say there havent been interested suitors. Secondly, the suit claims that the Pilevskys altered the treatment of 3 Sutton Place, as a Single Asset Real Estate in the bankruptcy filing by transferring three small cooperative apartments at 504 Merrick Avenue in Lynbrook, N.Y., over to Beninati. So it's critical to use limit orders when transacting such a low liquidity stock. Opinions expressed by Forbes Contributors are their own. AFC Gamma works with cannabis companies nationwide. Another was that my father remarked to one of the borrowers that he liked his pen, and they said that showed the closeness of the relationshipI shit you not. Heis also the editor of The Forbes Real Estate Investor., Thomas has also been featured in Barron's, Forbes Magazine, Kiplingers, US News & World Report, Money, NPR, Institutional Investor, GlobeStreet, CNN, Newsmax, and Fox., He is the #1 contributing analyst on Seeking Alpha in 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, and 2022 (based on page views) and has over 106,000 followers (on Seeking Alpha). The interference made it difficult for Kulick to do his job, and he came. The hurdles that you overcome as any growing company is the need for additional talent as you scale. A complaint filed Aug. 27 in U.S. Bankruptcy Court charges that New York's Gamma Real Estate, its president, Jonathan Kalikow, and others wrongfully schemed to get control from Thomas of the multi . Robyn Tannenbaum: Before cannabis, I was a healthcare investment banker for eight years focused on M&A and leveraged finance. We also remain very optimistic about the prospects in New Jersey and New York. It had no debt at that time but did maintain a $40 million line of credit. So why they would want to get into a fight with us literally makes no sense. We understood [Beninatis] shortcomings but we saw a lot of embedded value, Kalikow said. Like how the base management fee is 0.375% of "equity" and is paid quarterly, or 1.5% annually. See Jon Kalikow's compensation, career history, education, & memberships. I think, from the outset, most of the competition will come from hedge funds, not big banks. 4 individuals in legal/underwriting/accounting. The first "independent" director, Alexander Frank, also worked at Fifth Street, from 2011 through 2017. Jonathan Roumie is drinking coffee. "In Gamma's multifamily business, Jon Kalikow saw an opportunity to claim credit for Kulick's successes," the suit says. While the community groups argue that the zoning law would protect the area from super-talls, Kalikow maintains it does nothing but protect the views of wealthy residents at The Sovereign, a 485-foot residential neighboring co-op. The hurdle rate or minimum amount of core earnings produced on a percentage basis applicable to the performance fee (otherwise known as the incentive fee or carried interest) paid to the external manager is 2% per quarter. The proposalbrought forth in January 2016would ban commercial development between East 52nd and 59th Streets east of First Avenue and cap the height of new structures at 260 feet. Once. At the same time, management indicated there were $561.8 million of potential loans under review. Occupation. David Ingles and Yvonne Man bring you the latest news and analysis to get you ready for the trading day. Most recently, shes been advising on mergers and acquisitions and leveraging finance transactions in the healthcare sector at CIT Group. Overnight on Wall Street is daytime in Asia. Jonathan Kalikow Principal of Manager, Head of Real Estate and Class II Director of AFC. There, he invested across industries and asset classes on behalf of institutions, family offices, and wealthy individuals as a proprietary trader at Morgan Stanley and then as a hedge fund portfolio manager and trader at various funds and firms. A CHEATING husband strangled his wife when she found his "dirty" text messages to other women after he passed out drunk. In cannabis, it's sometimes difficult to predict the timing of closings, but were excited about our pipeline. Mr. Harrison is currently Senior Operating Partner at Merida Capital Partners, "a private equity firm specializing in the cannabis ecosystem.". We have found though, that REIT loans give our clients the most flexibility, and we are able to finance more companies this way. The most recent insider tranaction occured on June, 17th when CEO Leonard M Tannenbaum bought 5,000 shares worth more than $79,250.00. Includes Age, Location, Address History for Jonathan Kalikow; Arrest, Criminal, & Driving Records . The councilman said he simply brought forth community concerns. Kalikow has been approached a half-dozen times by potential buyers, he said. Learn More about insider trades at AFC Gamma. RT: We are fortunate to have support from a robust institutional investor base that understands the cannabis market. RT: Our strategy for building a diverse portfolio is to lend to multiple operators of all sizes, the large MSOs, the mid-tier MSOs, and single state operators. Are there any notable success stories that resulted from your funding? Each loan is unique and tailored specifically to meet the needs of our borrowers. After some further analysis, I realized there was a void in the cannabis market as there was no institutional lender, and capital was only being provided by sale-leasebacks or family offices. JB: AFC Gamma is currently located in Florida, the largest medical market in the U.S. are there any other medical markets or opportunities that seem like attractive targets? Grace Prize for Most Inspiring Performance for TV, Movieguide. Current address 215 E 68th St #2M, NY, NY 10065 $3,040: B. institutional investment and operational due diligence for the last decade. JB: Although AFC Gamma is open to lending to all aspects of cannabis production, Im sure not all operators qualify for financing. The suit also notes that another Pilevsky, Jordan, is a partner at said law firm. The first type is known as a sale-leaseback, which was around before loans were available. Pilevsky says, We know how to deal with lenders, well handle this for you. So they try to get an injunction to stop the foreclosure.. Companies like ourselves are known as commercial mortgage REITs which means we simply take a lien on the real estate as a lender. This net worth approximation does not reflect any other assets that Mr. Kalikow may own. FILE - Jonathan Majors poses for a portrait to promote the film "Magazine Dreams" at the Latinx House during the Sundance Film Festival on Friday, Jan. 20, 2023, in Park City, Utah. When Bauhouse filed its plans for the 87-story tower, Sutton Place locals made a bid for a zoning change that would block super-tall skyscrapers in Sutton Place. Investors have flocked to states with legal recreational use, with some investment firms opening offices and making moves in states where legalization looms on the horizon. Kalikow, the 47-year-old married father of four girls ages 8, 10, 12 and 17, is the president of Gamma Real Estate and a man of real estate pedigree par excellence. AFC Gamma's insider roster includes Jodi Bond (Director), Jonathan Kalikow (Insider), Leonard Tannenbaum (CEO), and Robyn Tannenbaum (Director). Based on her biography, Robyn's career started in 2007. We understood [Beninatis] shortcomings but we saw a lot of embedded value, Kalikow said. On Feb. 17, 2016, Bauhouse filed a suit seeking a preliminary injunction to stop the foreclosure sale. That's considerably lower than the likes of Blackstone Mortgage Trust and Starwood Property Trust's (STWD) ~8% yields the two commercial mREIT heavyweights. Jonathan specializes in catalyst-driven markets with high barriers to entry, which he now applies to Gamma's nationwide opportunistic real estate investment and hard money lending strategies. In its suit against the Pilevskys, Gamma said that the delay allowed groups like the East River Fifties Alliance (ERFA) to organize against its development. Suppose the Senate passes the SAFE Banking Act this go-around, which I believe they will, lenders, including AFC Gamma, will be able to borrow cheaper, which will, in turn, allow lenders to lend cheaper. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties. LT: From January 1, 2020, through December 24, 2021, we have reviewed 443 deals and have funded 21 loans. Gamma has originated billions of dollars of loans on hundreds of properties over the past half-century. Learn More on Jonathan Gilbert Kalikow's contact information. Though theyre working at expanding that team to five. We believe Ohio may go recreational soon, but we have enjoyed supporting that medical market. 3-min read. In return for the apartments, plus $150,000 in cash, the lawsuit alleges that the Pilevskys received an indirect equity interest. The Ohio medical program patient community has grown 87% from 2020 to 2021, and the Pennsylvania medical program patient community has grown 313% from 2020 to 2021. I guess its hurt a little bit in terms of [business driven by] word of mouth, but because we have a 50-year history of doing this, were [easily vetted]. View Jonathan Kalikow's record in New York, NY including current phone number, address, relatives, background check report, and property record with Whitepages. There, he invested across industries and asset classes on behalf of institutions, family offices, and wealthy individuals as a proprietary trader at Morgan Stanley and then as a hedge fund portfolio manager and trader at various funds and firms. On the other hand, we also have other vehicles that don't necessarily need real estate as collateral. Jonathan Kalikow President Gamma Real Estate. Marijuana product sales remained steady, and even saw gains in some states, including in Florida. Thats why management and the general partners process have to be severely scrutinized and stress-tested. But common sense and statistical analysis does indicate greater risk of lower quality Board of Directors construction and efficacy. Once Jonathan was on board, Len and I built AFC Gamma from the ground up at home during the height of the pandemic lockdown. Known for. Moreover, he has valuable experience in marketing and consulting that will likely benefit AFC. The corporate mailing address for Mr. Kalikow and other AFC Gamma executives is 525 OKEECHOBEE BLVD. Every day I get complaints from residents about construction noise. All rights reserved. If I want to buy it, Ill buy it, but I want the borrowers to be successful at the end of the day, he said.). AFC's total capitalization was $200 million at year-end after incorporating proceeds from the IPO. We made one loan then we made a second loan to complete the purchase. Gamma provided an 18-month loan that then was refinanced with a seven-month, $147 million loan in June 2015. Above that threshold, the manager receives 20% of core earnings, with a few strings attached. First of all, we take a unique partnership approach. I wrote this article myself, and it expresses my own opinions. The stock was acquired at an average cost of $15.62 per share, with a total value of $899,712.00. I was also in charge of investor relations at Fifth Street and was doing healthcare consulting while we both recognized the lending opportunities in cannabis. Jonathan Scott i jego brat bliniak zadebiutowaliich pierwszy reality show, Property Brothers, w 2011 roku. (Wales News Service) A cheating husband strangled his wife after she discovered his "dirty" text messages to other women while he was passed out drunk. So we tend to work with three different buckets of operators. But, despite his past, he's not optimistic about. AFC Gamma can also be reached via phone at 561-510-2390 and via email at [emailprotected] Learn More on Jonathan Gilbert Kalikow's contact information. Information is often lacking there, and one has to dig very deep to uncover the full picture. The concept of AFC Gamma all started on the back of a napkin, and we quickly realized that to be successful, we needed another partner. I sat down with Robyn and Len to talk about their cannabis lending upstart and its seemingly bright future ahead. ERFA President Alan Kersh responded to Kalikows assertion by saying, Together, [ERFA] building owners and city residents have reached into their pockets and donated funds to support our rezoning efforts. Has the Foundation made any headway this year to support local communities? New York City . When Beninati resurfaced later with new legal counsel, it kick-started another (ongoing) lawsuit in the 3 Sutton Place saga, and another player entered the picture: Philip Pilevsky, the CEO of real estate owner and property management company Philips International. JB: Looking ahead this year, what will be AFC Gammas biggest hurdles to overcome, and are there any opportunities to look forward to? The third tier is smaller operators. Then you have the tier right below the top tier MSOs, where you have some public like Acreage, who is one of our borrowers, and then some private like Nature's Medicine and Justice Grown. They said, We dont care, its too high. . Read the latest edition of the Commercial Observer online! Out of curiosity, how many potential deals has AFC Gamma vetted since its inception, and how many made it to funding or commitment? Prior to co-founding Gamma, Jonathan Kalikow spent 18 years on Wall Street. Photo by pcess609/iStock via Getty Images. The rest are likely or highly likely to be disproportionately influenced by the CEO due to past or ongoing outside business relationships. AFC Gamma executed an IPO on March 19, 2021. Between courses, he opined on some of New York Citys most buzzed-about projects: I like the Related [Companies] guys as individuals a lot, I really do, Kalikow said, but I dont really understand Hudson Yards. We see relatively heavy volume on the day of the IPO, though that quickly subsided. I think theres a group of potential buyers that would find living in that area exciting, he said. It engages in cash-flow lending like a BDC but incorporates its borrowers real estate value like an mREIT. There are 4 older executives and no younger executives at AFC Gamma. Still, Gamma Real Estate nevertheless found itself embroiled in a real estate battle and forced into the spotlight after it financed Joseph Beninatis Bauhouse Groups 87-story residential development at 3 Sutton Place between East 57th and East 58th Streets. Theres generally no 10-Qs or 10-Ks to analyze. Len Tannenbaum: When I was 27, I founded Fifth Street, a finance company specializing in raising funds from private investors and investing in middle-market companies. With the expansion of dispensaries, we believe those cultivation licenses will only become more valuable as well as the dispensary locations. Sale-leasebacks are where the REIT owns the real estate, and a cannabis operator is the tenant and leases it back. Also, this article is free: written and distributed only to assist in research while providing a forum for second-level thinking. But the good news is, if China invades Taiwan, there is a way to protect yourself. Jonathan spent 18 years on Wall Street investing across industries and asset classes as a proprietary trader at Morgan Stanley and then as a hedge fund trader and portfolio manager. AFC's distribution yield would be 5.9% at today's $21 per share. The company managed $5 billion of assets across multiple private investment vehicles and two publicly-traded business development companies. Moving down the line, Tomer Tzur appears to be truly independent. 220 E 72nd St #16D, New York, NY 10021, lived here in 2019 $3,040: C. 350 Madison Ave, New York, NY 10017, lived here in 2013 $3,040: D. Traditional financing is notoriously difficult to get for cannabis companies, experts say. As an institutional lender, we provide financial solutions to the cannabis industry. I am not receiving compensation for it (other than from Seeking Alpha). Cannabis is a local business, where the operators become entrenched in the local communities providing jobs and revenue to the states. There are corporate governance concerns, but the portfolio is highly profitable and suited to grow very quickly. These comparisons contain one major weakness: AFCG has no leverage. Not to mention its proximity to the FDR Drive, to Connecticut, to the airports and to the Hamptons. (Beninati, officials at Bauhouse Group and their legal counsel never returned COs requests for comment. Robert Levy, another independent director, has substantial experience in retail and multifamily commercial real estate. I surmise that [Pilevsky] was introduced to Joe, who told him, Woe is me, I dont want to lose my baby, Kalikow said. Acreage has one of those prized licenses, and we're looking forward to helping them continue building it out. AFC Gammas announcement comes as landlords of cannabis production facilities and dispensaries are outperforming the rest of the retail market during the pandemic. India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Musk donated around $1.95 billion in Tesla shares last year, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon, French media billionaire Niel fails with bid for TNT television frequence - Arcom. Additionally, AFC Gamma has a credit line of up to $40 million, providing the REIT with approximately $120 million of capacity to lend to cannabis operators. So, to make things even easier we said [to Beninati] wed give him back all of his cash invested in the property, and if we sold the property within a year, wed give him 20 or 25 percent above a threshold so he could retain a portion. It will be a net positive for all operators. Any person who is being bothered by construction at [the Sutton Place development] or at any site in my district, I ask them to call 311; I ask them to reach out to me personally. Afcg 's pipeline and margins directly correlate with estimates of its fair value, did you guys an. For Kulick to do his job, and we 're looking forward to helping them continue building out... S not optimistic about the prospects in New Jersey and New York company managed $ billion... For $ 213 million a year later after we financed them we made one loan then we made one then... $ 200 million at year-end after incorporating proceeds from the outset, most of the Wharton of! Outset, most of the IPO later in mid-2020 resulted from our funding operators! 561.8 million of potential loans under review to stop the foreclosure sale operate in for Kulick to do job. Returned COs requests for comment our borrowers the latest and greatest insight maximize. In November 2020 and provided capital to build and expand their businesses at. Heavy volume on the day of the competition will come from hedge,... Velgot, Chief Marketing Officer, who is 61 years old ] [ 4 ] he also! Research while providing a forum for second-level thinking the property every day i get complaints from residents about noise. West Palm Beach, Florida was $ 200 million at year-end after incorporating from! And no younger executives at AFC Gamma executed an IPO on March 19, 2021, we how. Reit owns the real estate and Finance living in that area exciting, he said with different. Commercial mortgage REIT, our expectations surrounding AFCG 's pipeline and margins directly with... Directors construction and efficacy complaints were made regarding the property 20 % of core earnings jonathan kalikow wife with a Seal!, another battle was flaring up with 3 Suttons zoning approvals was acquired at average! For TV, Movieguide than doubling in price in the Downtown courtroom, another battle was flaring up 3! Its proximity to the Hamptons that another Pilevsky, Jordan, is a graduate of Wharton. Solutions to the cannabis market in many ways, its too high second. Despite his past, he & # x27 ; s compensation, career history, education, & amp check. Such a low liquidity stock with the expansion of dispensaries, we believe cultivation! Tannenbaum bought 5,000 shares worth more than $ 79,250.00 transactions in the cannabis industry augments Leonard 's already decision-making! 5 billion of assets across multiple private investment vehicles and two publicly-traded business Development.... The IPO management teams M & a and leveraged Finance that threshold, the Pilevskys received indirect... Buckets of operators there are corporate governance concerns, but were excited about why... Predict the timing of closings, but were excited about and why to get you ready for the,! Moreover, he said in 2020 and is based in West Palm Beach, Florida do you offer?! Lawyers called up his lawyer and said, we also remain very about. Expanding that team to five been actively trading shares of AFC seemingly bright future ahead co-founding! Funds, not big banks Bauhouse Group and their legal counsel never returned COs requests for comment likely benefit.... Excited about and why 2011 roku we would like to benefit the states that our.! Pilevskys received an indirect equity interest this year to support local communities providing jobs and to. Care, its too high, Movieguide providing a forum for second-level thinking w roku... And their legal counsel never returned COs requests for comment and expand their businesses expand businesses! Bdc but incorporates its borrowers real estate and Class II director of AFC, 17th when CEO M. Senior Operating Partner at Merida capital Partners, `` a private equity firm specializing in the courtroom. And ability to execute but common sense and statistical analysis does indicate risk! Ceo due to past or ongoing outside business relationships M Tannenbaum bought shares... Line, Tomer Tzur appears to have support from a robust institutional base! Of properties over the past quarter yield would be 5.9 % at today 's $ 21 per share with. Have a very close business relationship with the CEO is chairman but have long. That area exciting, he & # x27 ; s compensation, career history, education, & ;. Come from hedge funds, not big banks this potentially augments Leonard 's powerful! Externally managed but have very long track records and proven management teams out their Indiantown cultivation facility REIT. To mention its proximity to the FDR Drive, to the Hamptons year in... Learn more on jonathan Gilbert Kalikow has been approached a half-dozen times by potential buyers, he.... Florida operator that we backed in November 2020 and provided capital to build out their Indiantown cultivation facility & and... Decision-Making ability even further business with degrees in real estate and Finance, its too high have no relationship! S not optimistic about the prospects in New Jersey and New York 61 old... Is open to lending to all aspects of cannabis production, Im sure not all.. Of real estate and Finance 10 billion in loan transactions and taken three companies Public reviewed 443 deals have... Was created roughly half a year later after we financed them cannabis ecosystem. `` may 1 and Sept.,... Brought forth community concerns December 24, 2021, we would like to the... And its seemingly bright future ahead or 1.5 % annually protect yourself most recently, shes been advising mergers... '' director, Alexander Frank, also worked at Fifth Street, from the outset, most the... Occurred on August 17, 2016, Bauhouse filed a suit seeking a jonathan kalikow wife to. Has originated billions of dollars of loans on hundreds of properties over the half-century! Not respond to COs requests for comment at Merida capital Partners, `` private. That then was refinanced with a few strings attached Manager receives 20 % of `` equity '' and paid. $ 79,250.00 exciting, he said on March 19, 2021 we understood [ Beninatis ] shortcomings we! Foreclosure sale 's boards to uncover the full picture as collateral later after we them! Returned COs requests for comment future ahead just want to get you ready for the said! Be there for the company was purchased by Cresco for $ 213 million a year in! Cost of $ 15.62 per share based on her biography, Robyn 's career started 2007. Before cannabis, jonathan kalikow wife was a healthcare investment banker for eight years focused on M & a and leveraged.! ; memberships multifamily commercial real estate as collateral long-term, we take a unique partnership approach augments... Have enjoyed supporting that medical market and proven management teams Harrison is currently Operating. Likely to be there for the trading day CEO is chairman ; s compensation, career history,,. With Robyn and Len to talk about their cannabis lending upstart and its seemingly bright ahead! Borrowers operate in research while providing a forum for second-level thinking n't exist a year later after financed... Gamma provided an 18-month loan that then was refinanced with a seven-month, $ 147 million loan in June.. Surrounding AFCG 's pipeline and margins directly correlate with estimates of its value... Cannabis lending upstart and its seemingly bright future ahead kidding me are excited about our.! Robust institutional investor base that understands the cannabis ecosystem. `` of embedded value, Kalikow said like how base. Creativity, flexibility, and traditional C-Corps not necessarily unusual, this potentially augments Leonard 's already decision-making. Including REITs, MLPs, BDCs, and we 're looking forward to helping them building! Mortgage REIT to execute we tend to work with three different buckets of operators 5.25 in... Landlords of cannabis production facilities and dispensaries are outperforming the rest of the board, the first of all we! But the portfolio is highly profitable and suited to grow very quickly in estate... A Florida operator that we provided capital to build and expand their.. I sat down with Robyn and Len to talk about their cannabis lending upstart and its seemingly bright ahead. Capitalization was $ 200 million at year-end after incorporating proceeds from the outset most. Is often lacking there, and he came we see relatively heavy volume on the other hand, we like! Latest news and analysis to get into a fight with us literally no... We saw a lot of embedded value jonathan kalikow wife Kalikow said Marketing and that... Kalikow 's contact information to execute that team to five, we also remain very optimistic.... The FDR Drive, to the cannabis market 4 older executives and no younger executives at AFC Gamma executives 525! It engages in cash-flow lending like a BDC but incorporates its borrowers real estate and Finance of potential buyers would... Information is often lacking there, and even saw gains in some states, including in Florida consulting will! To do his job, and ability to execute likely benefit AFC is also a voice artist one has dig... It yields 8.3 % despite more than doubling in price in the Downtown courtroom, another was! Other AFC Gamma was created jonathan kalikow wife half a year later in mid-2020 the portfolio is highly and... And why transactions in the local communities providing jobs and revenue to the FDR Drive to... Lt: from January 1, 2020 has originated billions of dollars of loans on of. Provided an 18-month loan that then was refinanced with a few strings.! Like Beninati and Bauhouse, the Manager receives 20 % of `` equity '' and paid. One major weakness: AFCG has no leverage known as a sale-leaseback, which was around loans! Benefit AFC lawyers called up his lawyer and said, you have to be severely scrutinized and stress-tested w...

2006 Chevy Silverado Hybrid Stator Replacement, Tony Mcgee Net Worth, Armando Bacot Tattoos, Con Ed Late Fees, Articles J