For Immediate Release:
Pelorus Equity Group Upsizes Company’s Offering to $1B
Company Experiences 300% Growth in 2021; Anticipates Having More than
$250M Assets under Management by End of the Year
Newport Beach, CA (October 20, 2021) — Pelorus Equity Group (“Pelorus”), the leading provider of value-add bridge commercial real estate loans for cannabis businesses and owners with cannabis-related real estate, announced the upsizing of its Pelorus Fund (the “Company”), a privately held mortgage real estate investment trust (“mREIT”) with cannabis use and cannabis-related properties. The Company increased its offering to $1B from the previous $250MM offering.
“Pelorus intends to use the net proceeds from the increased offering to continue to be the best-in-class non-bank real estate lending solution for cannabis owners and operators across their companies’ life cycles,” said Travis Goad, managing partner of Pelorus Equity Group. “This will include a new stabilized lending program with three- to five-year amortizing loans to quality sponsorship, and be offered to current borrowers upon construction completion, as well as to new borrowers that meet the company’s underwriting criteria.”
“Our Company launched its $100MM offering in 2018, and then in 2020, upsized it to $250MM, but with the 300% growth we’ve experienced in 2021, we continue to see an acceleration of institutional interest in our thesis and core strategy,” said Dan Leimel, CEO of Pelorus Equity Group and manager of the Pelorus Fund. “As more owners and operators look for quicker draws to generate revenue sooner and a steady flow of deals in our pipeline and investors enter the emerging sector, we expect to have more than $250MM assets under management by the end of the year and for our growth to only continue to accelerate at a rapid pace over the next year. We look forward to continuing to capitalize on our deep understanding of the sector, industry relationships and firsthand experience in cannabis commercial real estate to make more high-impact investments that deliver added value to both our clients and investors.”
To date, Pelorus has completed 58 commercial real-estate loan transactions and has deployed $225MM to cannabis businesses and real estate owners, comprising 1,850,000 sq. ft. in eight states across the U.S. With the ability to approve construction draws to reimburse the borrowers in an average of one to three days and with one agreement covering the financing of the entire project, the Pelorus Fund helps to stabilize cash flow for clients so they can remain focused on their core business goals and objectives.
About Pelorus Equity Group
Pelorus Equity Group is the leading provider of value-add bridge commercial real estate loans in the multi-billion dollar cannabis industry. The company’s Pelorus Fund, a private mortgage real estate investment trust (“mREIT”), offers a range of innovative transactional solutions addressing the diverse needs of real estate investors and portfolio managers, and its 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 $1B 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. For more information, visit https://www.pelorusequitygroup.com/.