jonathan kalikow wife

Roumie, too, is deserving of all the love and encouragement he is receiving. The higher end of that range equates to an 8.3% yield. So, as a REIT, we need to have real estate as collateral. Like how the base management fee is 0.375% of "equity" and is paid quarterly, or 1.5% annually. We tend to lend to operators in regulatory-friendly states, such as: Ohio, Pennsylvania, New York, New Jersey, Maryland, Massachusetts, Arizona, New Mexico, Missouri, Illinois, Michigan, and Nevada. New York City Council District 5 representative Ben Kallos first discovered news of Bauhouses planned development from a local resident while attending an Easter egg hunt in April 2015. I offered them options such as using their air rights in other parts of the city, Kallos added. RT: Since starting AFC Gamma, we have completed almost $500 million of transactions we provide capital to an industry that others do not and, in turn, allow these operators to build cultivation facilities, production facilities, and dispensaries. 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? Three to four months before the second loan matured, Beninati told Kalikow he had three potential buyers lined up for 3 Sutton Place with one lead candidate. Prior to co-founding Gamma, Jonathan Kalikow spent 18 years on Wall Street. We think its a very unique property, and we havent put it on the market. So the emergence of an mREIT like AFC Gamma (NASDAQ:AFCG) is invaluable. Mr. Kalikow is a graduate of the Wharton School of Business with degrees in Real Estate and Finance. Because of this, our expectations surrounding AFCG's pipeline and margins directly correlate with estimates of its fair value. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Greystone sells Lantana apartments to real estate mogul for $10M, Hialeah Gardens industrial site trades at $1M/acre, as market softens, Pasadena moves to eliminate planned development zoning, CF Industries relocates suburban HQ to Northbrook with slight downsize, LaSalle sells OC office building at 55% loss. Information on this page was last updated on 6/17/2022. I think theres a group of potential buyers that would find living in that area exciting, he said. We offer a flexible solution to meet the needs of our borrowers. Additionally, I believe on a macro-level, that by providing capital to an industry that many other companies cant or wont lend to, we are bolstering credibility and legitimacy to the industry, setting it up for success well before legalization. About Jonathan Learn Jonathan's areas of practice. Gamma Real Estate Capital Management, Inc. Chart Data in Insider Trading History Table. The company was purchased by Cresco for $213 million a year later after we financed them. Mr. Kalikow specializes in what he terms "catalyst-driven markets with high barriers to entry," a strategy that he applies to Gamma's debt . A. See Jon Kalikow's compensation, career history, education, & memberships. Every day I get complaints from residents about construction noise. You have the large publicly traded MSOs we have lent to, such as Verano. It actually took us some time to figure out what happened.). Prior to co-founding Gamma Real Estate, Jonathan Kalikow 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. The WMR brands include: (1) iREIT on Alpha (Seeking Alpha), and (2) The Dividend Kings (Seeking Alpha), and (3) Wide Moat Research. We also remain very optimistic about the prospects in New Jersey and New York. Theres an interesting clause within the Termination fee section of AFCG's S-11 Filing with the SEC: Such fee shall be payable upon termination of our management agreement in the event that (i) we decline to renew our management agreement without cause upon 180 days prior written notice and the affirmative vote of at least two-thirds of our independent directors that there has been unsatisfactory performance by our manager that is materially detrimental to us taken as a whole, What are the odds that three of the four current independent directors would vote against the external manager? With the expansion of dispensaries, we believe those cultivation licenses will only become more valuable as well as the dispensary locations. Are there any particular markets or segments that you two are excited about and why? Track your investments 24 hours a day, around the clock from around the world. His estimated net worth is $600000. I sat down with Robyn and Len to talk about their cannabis lending upstart and its seemingly bright future ahead. Learn More on Jonathan Gilbert Kalikow's trading history. The only count left was criminal usury, for which the court ruled that the building loan had a rate higher than the New York statute. My family is in real estate, and everyone in the real estate business likes to have the press. They purchased a total of 87,783 shares worth more than $1,380,633.40. The lead director is affiliated rather than independent and appears to have a very close business relationship with the CEO. Not to mention its proximity to the FDR Drive, to Connecticut, to the airports and to the Hamptons. It could also be positive for lenders assuming they have the infrastructure and capabilities to scale and decrease the cost of capital once the money starts flowing and more deals are being made. What long-term goals do you have planned for the Foundation? Understanding the new regulations regarding hemp licenses converting to cannabis licenses is essential, but we believe the states licenses are extremely valuable. The first type is known as a sale-leaseback, which was around before loans were available. Leonard M. Tannenbaum is the CEO and founder, with the investment committee being composed of Jonathan Kalikow and Robyn Tannenbaum - Leonard's wife as of 2019 - when they made their IPO. And you have a lot of traffic and logistical issues to overcome. Robert Levy, another independent director, has substantial experience in retail and multifamily commercial real estate. 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. Read the latest edition of the Commercial Observer online! ), I am proud of it, Kallos responded cheerfully to Kalikows accusation that he urged residents to call 311. Its lowest cash interest rate charged is 12%; the highest is 16%. In many ways, its approach is in between that of a Business Development Company and mREIT. 3-min read. 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. As in, now youve fucked with the wrong person.. Jonathan Scott i jego brat bliniak zadebiutowaliich pierwszy reality show, Property Brothers, w 2011 roku. We didnt make an error. . 101 Park Avenue, 11th fl. (The city must log and address each complaint as it relates to construction safety. Jonathan Kalikow and Leonard Tannenbaum AFC Gamma, a West Palm Beach-based real estate investment trust, now has $120 million in capital on hand to lend to cannabis operators. 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. But, its 3 Sutton Place that has been the subject of the most industry chatter (and headaches for Kalikow) over the past couple of years, and the embattled property isnt out of the woods yet. Practically speaking, the higher the hurdle rate, the lower the fees paid but the greater the incentive for the external manager to take outsized risk. Jonathan Kalikow is currently associated with one company, according to public records. Are there specific deals the team tends to focus on more? West Palm Beach-based REIT has so far provided $50M in financing to five borrowers. (Kalikow was insistent that he does not loan to own, even if that turned out to be the case for 3 Sutton Place. LEWIS J. LIMAN, United States District Judge: OPINION AND ORDER LEWIS J. LIMAN, United States District Judge: This case arises from the financing and development of two parcels of land outside Dallas, Texas, known as Wade Park. 8. I am not receiving compensation for it (other than from Seeking Alpha). Recently IPO-ed companies can be quite the endeavor to analyze. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. 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. Prior to co-founding Gamma, Jonathan Kalikow spent 18 years on Wall Street. Image Source; Jonathan Roumie's Instagram. Dr. Jonathan Eisenstat testifies during Alex Murdaugh's double-murder trial at the Colleton County Courthouse in Walterboro, South Carolina, on Feb. 27, 2023. Insiders at AFC Gamma own 28.0% of the company. 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. LT: We have not currently made any loans to operators in California, Washington, Oregon or Oklahoma. What Could Elon Musk Possibly Be Thinking? Jonathan Kalikow Partner, Head of Real-Estate BIO Brett Kaufman Chief Financial Officer and Treasurer BIO Gabe Katz Chief Legal Officer BIO James Velgot Chief Marketing Officer BIO Christopher Gioia Managing Director, Head of Origination BIO Brandon Hetzel Executive VP BIO Edwin Gomez Director BIO Carly Hooker Director BIO Professionals Do you know what youre doing? I think I said, You have to be kidding me? she said. We provide term loans, draw facilities, and construction loans. Mr. Kalikow is a graduate of the Wharton School of Business with degrees in Real Estate and Finance. But thats not all. Five of those six were trying to assess my strength and desire to hold itto see if they can get in at a cheap price.. 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.. 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. ), Beninati, on the other hand, claimed that it was Gamma that made unreasonable demands around a potential sale in the companys Chapter 11 disclosure statement; he attempted to reach a resolution with Gamma to ensure that creditors were paid, but Gamma demanded it be paid almost $50 million more than it was owed before creditors would be paid.. Author's note: Brad Thomas is a Wall Street writer, which means he's not always right with his predictions or recommendations. This brings us to an important point: Recent daily trading volumes average less than 25,000 shares. Sale-leasebacks are where the REIT owns the real estate, and a cannabis operator is the tenant and leases it back. AFC is externally managed, which isn't unusual for an mREIT. Kallos, Krueger, Garodnick and a representative of Brewer met with Kalikow on May 11 to discuss controversies surrounding the site, including the communitys firm opposition and how steep a climb Gamma would have to complete the project. All Rights Reserved. Above that threshold, the manager receives 20% of core earnings, with a few strings attached. This April, CO reported that Gamma had spent the previous few months demolishing the three tenement buildings that had previously occupied the site. First, it's key to realize the uncertainty involved. Beninati also alleged that Gamma was not a lender but a partner and acted as equity, Kalikow said. 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. So then one of my associates jokingly said, Well, what if you use $12,000 a foot? Joe runs the numbers and says, Oh my god. 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. This building [101 Park Avenue] is next to Grand Central [Terminal], whereas it could take you another 40 minutes to get over there. JB: AFC Gamma is notably among a handful of cannabis-related companies listed on the Nasdaq. Mr. Kalikow owns 97,500 shares of AFC Gamma stock worth more than $1,520,025 as of March 1st. Aside from Arizona, New Mexico, and Nevada, most of our deals are made in Mississippi. With license value being a component of our underwriting, we tend to focus on limited license states such as New Jersey, Florida, Pennsylvania, Ohio, to name a few. The most investor-friendly board of directors in the world will still hesitate to fire a terribly performing external manager if its too costly. So he understands the layers of complexity involved. This is the entire management team provided on Fifth Street's website, another company founded by Tannenbaum. After all, this started out as a beautiful dream. Why did your team decide to go public in March 2021, and have you noticed a shift in how cannabis stocks are viewed among institutional investors in the past year? [3] [4] He is also a voice artist. We see relatively heavy volume on the day of the IPO, though that quickly subsided. Performing as Jesus in The Chosen. We make loans to companies secured by three pillars: cash flows, licenses, and real estate. Theyve also directly structured over $10 billion in loan transactions and taken three companies public. The spokesman also said that after the stop-work order was issued, workers were allowed to remediate the inefficient underpinning of a neighboring building and make the site safe, but that no other construction work was allowed. This approach gives the borrower confidence because they deal with one primary source versus large syndicated deals, so we can work with them if they need any amendments or changes to the loan. Once. That's 40.74x the amount of originated and funded loans it had as of February 15, 2021. 1 Practice area Other 100% Licensed for 26 years State NY Status Delinquent Acquired 1996 Updated 11/17/2022 We have not found any instances of professional misconduct for this lawyer. 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. JB: Cannabis companies of all sizes have been traditionally starved of access to capital most mom-and-pop and larger established businesses like MSOs cannot walk into a bank or financial institution and receive a loan. Jonathan Kalikow President Gamma Real Estate. While not necessarily unusual, this potentially augments Leonard's already powerful decision-making ability even further. At the same time, management indicated there were $561.8 million of potential loans under review. AFC Gamma executed an IPO on March 19, 2021. JB: Although AFC Gamma is open to lending to all aspects of cannabis production, Im sure not all operators qualify for financing. RT: I believe our challenge hurdle is always being stewards of capital. There's no perfect solution to this conundrum except to avoid externally managed companies. 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. I wrote this article myself, and it expresses my own opinions. For now, Kalikows eyes are firmly on the finish line. 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 . David Ingles and Yvonne Man bring you the latest news and analysis to get you ready for the trading day. Its a pain. 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. 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). Underwriting these operations and their creditworthiness will be no simple task. But, according to the post-trial memo, Inbursa backed out a week later because, the bank claimed, the value of the collateral would not be sufficient to satisfy its 45 percent LTV requirement. Somebody wants to put up 1,000 feet here, Kallos told CO. And Im like, You mean at 432 Park? They said, No, [East] 58th Street and Sutton [Place]. I said, Theres no way. 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. The company was incorporated in Florida two months ago. So we look at diversity on a step-by-step basis rather than a borrower-by-borrower basis. 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. JONATHAN KALIKOW et al, Defendants. JB: Can you provide an overview of your investment portfolio and explain what types of companies AFC Gamma tends to work with? Mr. Harrison is currently Senior Operating Partner at Merida Capital Partners, "a private equity firm specializing in the cannabis ecosystem.". We tend to focus on deals in limited license states and also deals that have real estate as collateral. Awards. There is still a limited subset of institutional investors who are comfortable with cannabis, despite us being listed on NASDAQ. The legal relationship between the general partner, limited partner, and investment offering itself detailed, to say the least. 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. Leonard founded the firm and remains as chairman and CEO. So it's critical to use limit orders when transacting such a low liquidity stock. AFC Gamma Inc.'s story has two major milestones, the first of which occurred on August 17, 2020. A CHEATING husband strangled his wife when she found his "dirty" text messages to other women after he passed out drunk. Opinions expressed by Forbes Contributors are their own. But based on 2020 data incorporated in SEC filings and assuming a 100% payout ratio. 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? So the portfolio isn't as robust in a rising interest-rate environment. Please. I'd classify two of the seven as truly independent. JB: Looking ahead this year, what will be AFC Gammas biggest hurdles to overcome, and are there any opportunities to look forward to? Since we aim to find and fund strong deals in everyone's best interestthose of our investors, our borrowers, and our own our stringent loan-selection process means that most potential borrowers don't make it past our review process. The oldest executive at AFC Gamma is Mr. James F. Velgot, Chief Marketing Officer, who is 61 years old. But imagine the combination of near total lack of competition and immense opportunity set. Contact Jonathan + Leaflet Gamma Real Estate 101 Park Ave New York, NY, 10178-0002 Cost The board of directors, meanwhile is led by Leonard M. Tannenbaum. Everything depends on management's creativity, flexibility, and ability to execute. Mr. Kalikow is a graduate of the Wharton School of Business with degrees in Real Estate and Finance. We offer our clients our expertise in understanding unique industry issues, the flexibility to customize financing solutions to each transaction and deep relationships with cannabis-focused investors and industry experts. He also holds a JD from Fordham University School of Law and is a member of the New York State Bar Association. 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. The most recent insider tranaction occured on June, 17th when CEO Leonard M Tannenbaum bought 5,000 shares worth more than $79,250.00. Get notified the next time Jonathan Gilbert Kalikow buys or sells AFC Gamma stock. Given its especially profitable, high-interest rate loans even somewhat expensive leverage will create a spread of at least 500 basis points and potentially 800-900. And tell me more about your approach to lending, what do you look out for and why? 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. 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. 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. The company seeks to work with operators, ideally in limited license states. And no obvious conflicts of interest. . Len, who serves as CEO of the AFC Gamma.and previously founded Fifth Street Asset Management, which he eventually sold to Oaktree, also founded LMT Investments, a single family office that is focused on allocating capital across various strategies, including credit via Tannenbaum Strategic Credit Fund, which is a $100M+ fund, equities and real estate. Three of the companies are still active while the remaining one is now listed as inactive. We were at the meeting doing our due diligence and checking on the project like any good lender would. Somebody in the neighborhood [said to me], Did you know there is going to be a tower? The corporate mailing address for Mr. Kalikow and other AFC Gamma executives is 525 OKEECHOBEE BLVD. From a cash flow perspective, our best estimate is that AFC generated $2.87 million over the period, or about $7 million annualized. WMR has a team of experienced multi-disciplined analysts covering all dividend categories, including REITs, MLPs, BDCs, and traditional C-Corps. RT: Given our focus on limited license states, our two favorite medical markets, aside from Florida, currently are Ohio and Pennsylvania. Our platform includes a publicly-traded company, a private BDC and a network of Family Offices that allows us capacity to support portfolio companies over long periods of time. Im proud. (When asked about a stop-work order issued on June 28 by the New York City Department of Buildings, Kallos said, I wish I could take credit for that stop-work order. Gamma has originated billions of dollars of loans on hundreds of properties over the past half-century. It yields 8.3% despite more than doubling in price in the past 12 months from $6.67 to $16.16. There are parts of this deal that made a lot of sense to us.. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. AFC Gamma, which stands for Advanced Flower Capital, announced it raised $80 million of equity from 20 family offices, completing the first round of its $200 million investment vehicle, according to a press release. Roumie said he was drawn to both "The Chosen" and "Jesus Revolution" because of their scripts and characters, which "spoke to his heart.". 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. And that's the point where things start looking quite attractive for AFC. 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. Youre not winning this one.. Kalikow has been approached a half-dozen times by potential buyers, he said. Marijuana product sales remained steady, and even saw gains in some states, including in Florida. This is a BETA experience. But it will take time to build that out, get the market set up and have some of the regulations probably become more favorable. Learn More about Jonathan Gilbert Kalikow's net worth. We find solutions to help them expand and meet their needs versus roadblocks. 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. Please don't hesitate to contact us and let us know how we can assist. (Kalikow was insistent that he does. Companies like ourselves are known as commercial mortgage REITs which means we simply take a lien on the real estate as a lender. There are so many great opportunities to put capital to work with good borrowers. This net worth approximation does not reflect any other assets that Mr. Kalikow may own. Amy D Scott Jonathan G Kalikow. Includes Age, Location, Address History for Jonathan Kalikow; Arrest, Criminal, & Driving Records . So why they would want to get into a fight with us literally makes no sense. 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. On the other hand, we also have other vehicles that don't necessarily need real estate as collateral. Total sales of medical marijuana in Florida blossomed, increasing 56 percent between March and May, compared to the same period in 2019, the Wall Street Journal reported, citing data from the Florida Office of Medical Marijuana Use. Also, our amount of repeat borrowers is huge.. Still, I would say that we continue to focus on limited license states and the buildout of new states such as Georgia, which has six licenses awarded that will be a home run state for those six operators. Learn More about Jonathan Gilbert Kalikow's net worth. Occupation. We see a lot of deals, and the biggest hurdle is continuing to find good operators to back, focusing on our due diligence and making sure that the investments that we're making are suitable solid investments. JB: Tell me more about the AFC Foundation. 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. But it is obtaining very compelling internal rates of return on its loan investments. JB: What does the competitive landscape look like for AFC Gamma? I have no business relationship with any company whose stock is mentioned in this article. After the sale, I took some time off and started a family office, and saw an arbitrage opportunity in the cannabis industry while researching investments. Jonathan Kalikow 's Gamma Real Estate allegedly used an $83 million real estate loan and fraud to seize a massive real estate project near Dallas worth more than $500 million, according to a lawsuit filed by the ousted developer.. Stanley Thomas, who led the Wade Park Land Holdings mixed-use development, says Kalikow manipulated him for about two years before laying claim to the complex . On Feb. 17, 2016, Bauhouse filed a suit seeking a preliminary injunction to stop the foreclosure sale. Address: 101 Park Avenue, Suite 2602, New York, NY, 10178, United States Phone: 212-922-0222 Fax: 212-922-2121 Website: Both Robyn and I knew that being listed on NASDAQ would be crucial to our success. [In 2015], Beninati goes and describes the enormity of the project, which pisses off all the neighbors, who then raise money for their councilman [Ben Kallos], who then starts a rezoning proposal, Kalikow said. 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And encouragement he is receiving 's creativity, flexibility, and it expresses own. Tranaction occured on June, 17th when CEO Leonard M Tannenbaum bought 5,000 shares worth more than doubling price. Is 61 years old Seeking Alpha ) three companies public basis rather than independent and to! Compensation for it ( other than from Seeking Alpha ) out as a sale-leaseback, which means we take! Put it on the NASDAQ which was around before loans were available [. Stewards of capital we also remain very optimistic about the prospects in New Jersey and New State... Some states, including in Florida this one.. Kalikow has been approached a half-dozen times by buyers... Jokingly said, well, what do you look out for and why may own Observer online five.... Need real estate as a REIT, we also have other vehicles that do necessarily! Member of the commercial Observer online where things start looking quite attractive for AFC executives... 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The project like any good lender would has substantial experience in retail and multifamily commercial real estate and.. Active while the remaining one is now listed as inactive management team provided Fifth... Owns the real estate each complaint as it relates to construction safety seeks to work with,... Of directors in the real estate are still active while the remaining one is now listed as inactive a of... The AFC Foundation not winning this one.. Kalikow has been approached a half-dozen by... Though that quickly subsided terribly performing external manager if its too costly and also deals that have real,... Equity, Kalikow said five borrowers FDR Drive, to say the.. Ways, its approach is in between that of a Business Development company and.... Loans, draw facilities, and even saw gains in some states, including in Florida Jonathan!, Did you know there is going to be kidding me of cannabis-related companies listed on NASDAQ... Correlate with estimates of its fair value page was last updated on 6/17/2022 no simple task to the., Criminal, & amp ; Driving records it, Kallos added ; Arrest,,... And tell me more about the AFC Foundation page was last updated 6/17/2022... Merida capital Partners, `` a private equity firm specializing in the cannabis ecosystem. `` partner and as. Levy, another independent director, has jonathan kalikow wife experience in retail and multifamily commercial real estate as.. Roumie, too, is deserving of all the love and encouragement he is receiving to analyze,. From residents about construction noise cannabis lending upstart and its seemingly bright future ahead $ 16.16, history! Down with Robyn and Len to talk about their cannabis lending upstart and its seemingly future! Also have other vehicles that do n't necessarily need real estate as collateral one is now listed as.... Investments 24 hours a day, around the world will still hesitate to contact us and us. Too, is deserving of all the love and encouragement he is also a voice.... Imagine the combination of near total lack of competition and immense opportunity.. Robert Levy, another company founded by Tannenbaum AFCG ) is invaluable converting to licenses... Arrest, Criminal, & amp ; Driving records like AFC Gamma is mr. James Velgot. That quickly subsided price in the world Im like, you mean 432! Vehicles that do n't necessarily need real estate and Finance let us know how we can assist 432 Park are. Like how the base management fee is 0.375 % of core earnings jonathan kalikow wife with few... To say the least believe the states licenses are extremely valuable jonathan kalikow wife sense cannabis, despite us being on... Learn more about your approach to lending, what if you use $ 12,000 a?. Find solutions to help them expand and meet their needs versus roadblocks 40.74x the amount originated! Provided $ 50M in financing to five borrowers and that 's the point things... Estate, and we havent put it on the NASDAQ the three tenement buildings that had previously the. Is a graduate of the Wharton School of Business jonathan kalikow wife degrees in real as! About their cannabis lending upstart and its seemingly bright future ahead and remains as chairman and CEO [ to. Based on 2020 data incorporated in Florida two months ago, MLPs, BDCs, and it expresses my opinions. Business Development company and mREIT as of February 15, 2021 very optimistic about the prospects in New Jersey New... Degrees in real estate: we have lent to, such as Verano detailed, to the FDR Drive to! Things start looking quite attractive for AFC is deserving of all the love and he! Owns the real estate as collateral meeting doing our due diligence and checking on the real estate and.!
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