Cannabis Times…They Are A Changing
A legacy bridge lender is getting into cannabis financing in a big way!
While the institution has been around for a while they’ve only very recently gotten into the cannabis market and have aggressively pursued deals from the minute their feet touched the ground.
We started working with this group recently and we’re excited to tell you a little bit about their platform. One of the big things to know is that their leverage is based off of the non-cannabis value.They’re fast to close and informed us that they can move as quickly as 5 days, plus they’re flexible on the pre-pay.
Bringing their institutional grade capital to the market this group is extremely well versed with working on complicated deals that other groups say no to. They’re looking for cannabis deals NOW, and they’re looking to deploy funds fast!
Their deal criteria is:
- Deal Size $1.5 – $20M
- Up to 80% LTV on the Non-Cannabis Value
- Interest rate: 9-10% I/O
- 2 points lender origination
- 1-5 year term
- Recourse: Full recourse required in most situations
- Property Types: All types
- Except outdoor or greenhouse grows
- Deal Types:
- Will consider light buildout/TI (no ground-up)
- Looking primary/infill locations
- No rural locations
- They’ll also consider PR
If you have a deal that meets these criteria, then we should talk. Click here or shoot us an email at Justin@encapital.com and let’s get started today!