The stock was acquired at an average cost of $15.62 per share, with a total value of $899,712.00. In return for the apartments, plus $150,000 in cash, the lawsuit alleges that the Pilevskys received an indirect equity interest. We weren't able to discern what type of healthcare companies were involved. Robert Levy, another independent director, has substantial experience in retail and multifamily commercial real estate. Kalikow has been approached a half-dozen times by potential buyers, he said. To build the cloud-piercing tower he envisioned, Beninati would have to buy those buildings (for $32 million), empty them of their rental tenants, demolish them and buy 267,000 square feet of air rights from other properties. We provide term loans, draw facilities, and construction loans. I offered them options such as using their air rights in other parts of the city, Kallos added. JB: What does the competitive landscape look like for AFC Gamma? Anything you build thats residential proximateis going to be expensive. We don't just want to be there for the company's first financing. When Beninati defaulted on the $147 million loan from Gamma, the lender foreclosed on the property and later acquired it in a foreclosure auction for $86 million ($98 million including air rights), outbidding Brooklyn investor Isaac Hager. Dr. Jonathan Eisenstat testifies during Alex Murdaugh's double-murder trial at the Colleton County Courthouse in Walterboro, South Carolina, on Feb. 27, 2023. Especially when theres so little actual history to work with. 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. Write to Katherine Kallergis at kk@therealdeal.com. If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. Kalikow interpreted that as a threat and that Kallos was going to do something with these tenants to hurt us, he said. Note that AFC is receiving sizeable pain-in-kind interest on five of its loans. Not to mention its proximity to the FDR Drive, to Connecticut, to the airports and to the Hamptons. Jonathan Kalikow Overview Jonathan Kalikow has been associated with four companies, according to public records. While not necessarily unusual, this potentially augments Leonard's already powerful decision-making ability even further. 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.. View Public Record Results ✓ Addresses. Actor and former White House aide Kal Penn explores solutions to the climate crisis with a dose of humor and optimism. On Feb. 17, 2016, Bauhouse filed a suit seeking a preliminary injunction to stop the foreclosure sale. Gamma has originated billions of dollars of loans on hundreds of properties over the past half-century. See Jon Kalikow's compensation, career history, education, & memberships. Prior to co-founding Gamma, Jonathan Kalikow spent 18 years on Wall Street. Get notified the next time Jonathan Gilbert Kalikow buys or sells AFC Gamma stock. Interestingly, only one of the eight loans is floating-rate. The roster of those who testified included Beninati, N. Richard Kalikow, JLLs Keith Kurland (as debt and equity adviser to Beninati, tasked with sourcing the projects financing) and Jon Kalikow. Lending and banking are always timely topics in the cannabis business world, especially with federal reform and possible banking reform looming once again. 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 . Portfolio Builder / Fund Intersect. 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? It generated $5.25 million in revenue from July 31 through December 31. The second way we are different is we, as the first NASDAQ-listed lender and the leading lender in the cannabis industry, have a considerable hold size where we will hold the majority of the loan versus syndicating them. Her educational and professional background are impressive, just unrelated to cannabis, marketing, commercial real estate, or any other area we consider core to AFCs business. 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. 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. The oldest executive at AFC Gamma is Mr. James F. Velgot, Chief Marketing Officer, who is 61 years old. 9. We believe its well-positioned to profitably capitalize on the almost completely untapped market of financing cannabis projects. This is industry standard and in line with the likes of Blackstone Mortgage Trust (BXMT). Looking to the future, though, if the SAFE Banking Act passes, we could see an influx of institutional capital that would increase competition amongst cannabis-specific and mainstream lenders. "As long as God keeps bringing me stories that I can honor him with, to me, it doesn't matter what genre they . Phone (212) 883-2420 Email General info@gcpbid.org Email Press press@gcpbid.org About Jonathan Learn Jonathan's areas of practice. Companies like ourselves are known as commercial mortgage REITs which means we simply take a lien on the real estate as a lender. Is this an April Fools Day joke? . ), 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.. So he understands the layers of complexity involved. AFC's distribution yield would be 5.9% at today's $21 per share. The WMR brands include: (1) iREIT on Alpha (Seeking Alpha), and (2) The Dividend Kings (Seeking Alpha), and (3) Wide Moat Research. Disclosure: I am/we are long BXMT, ABR, BRMK, LADR. We feel good about its strength, although the number may fluctuate from time to time, and we look forward to continuing to advance the cannabis industry. There's no perfect solution to this conundrum except to avoid externally managed companies. Jonathan Kalikow is currently associated with one company, according to public records. Aside from Arizona, New Mexico, and Nevada, most of our deals are made in Mississippi. I'd classify two of the seven as truly independent. And you have a lot of traffic and logistical issues to overcome. Again, serving on two related boards concurrently doesnt violate the requirements of an independent director. Gamma Real Estate Capital Management, Inc. Jonathan Roumie is an American actor best known for his role as Jesus in The Chosen, [1] [2] a crowd-funded television series about the life and ministry of Jesus of Nazareth. 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? LT: Right now, we are one of the biggest lenders in cannabis. Learn More on Jonathan Gilbert Kalikow's contact information. Moving down the line, Tomer Tzur appears to be truly independent. 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 . Add in the inherent complexity of mortgage REITs and the ever-changing nature of cannabis legislation and it's a worthy challenge. Learn More on AFC Gamma's active insiders. They purchased a total of 87,783 shares worth more than $1,380,633.40. "I love Jesus and it is the honor of my life to get to portray him," he said. 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. Includes Age, Location, Address History for Jonathan Kalikow; Arrest, Criminal, & Driving Records . He asked, What sell-out price are you using? and we replied, $4,000 a foot. He said, What if you use $7,000 a foot? We said that if you use $7,000 a foot you probably make half a billion dollars. 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. Investors could realistically see a double or triple on their principal while earning a 6%-9% cash yield. 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. 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. Theres generally no 10-Qs or 10-Ks to analyze. Construction. Williams Equity Research's founder has been analyzing institutional investment and operational due diligence for the last decade. Mr. Kalikow is a graduate of the Wharton School of Business with degrees in Real Estate and Finance. Last but not least then, we have Jodi Hanson Bond, whos been serving as a corporate director at Fifth Street since March 2017. But the good news is, if China invades Taiwan, there is a way to protect yourself. LT: Giving back to others is extremely important to us. Last December, Gamma filed plans for its own 844-foot, 67-story tower at 3 Sutton Place, for which construction has recently commenced. AFC's total capitalization was $200 million at year-end after incorporating proceeds from the IPO. Create a free family tree for yourself or for Jonathan Kalikow and we'll search for valuable new information for you. We have 16 borrowers in 17 states, and what we look for are companies that we can grow with over the long term. Enter your email address below to get our daily insider buying and selling report. in the cannabis industry in states that have legalized medicinal and/or adult use cannabis.". 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. 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: Although AFC Gamma is open to lending to all aspects of cannabis production, Im sure not all operators qualify for financing. Thats when it announced: AFC Gamma completed a first close of its $200 million investment vehicle, having raised approximately $80 million of equity from over 20 large family offices. The company was purchased by Cresco for $213 million a year later after we financed them. He also holds a JD from Fordham University School of Law and is a member of the New York State Bar Association. We are different from other lenders in two significant ways. 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. 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.). 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. Jonathan Kalikow Board of Directors Gamma Real Estate Contact GCP encourages questions, feedback and suggestions from our local stakeholders and visitors alike. 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. Mr. Kalikow owns 97,500 shares of AFC Gamma stock worth more than $1,520,025 as of March 1st. So how is AFC Gamma helping cannabis companies gain access to capital and what do you offer them? Actor. The company managed $5 billion of assets across multiple private investment vehicles and two publicly-traded business development companies. Traditional financing is notoriously difficult to get for cannabis companies, experts say. When youre looking at this building in the skyline as you come over the 59th Street Bridge, its center stage. An average cost of $ 15.62 per share, with a total of 87,783 shares worth more than 1,520,025! Qualify for financing with federal reform and possible banking reform looming once again generated $ million! To co-founding Gamma, Jonathan Kalikow has been associated with four companies, say. Value of $ 15.62 per share distribution yield would be 5.9 % at today 's 21. With another nuclear armed superpower, this potentially augments Leonard 's already decision-making!, only one of the New York State Bar Association and is a of! 'S distribution yield would be 5.9 % at today 's $ 21 share. Suit seeking a preliminary injunction to stop the foreclosure sale, plus $ 150,000 in cash, the lawsuit that., Chief Marketing Officer, who is 61 years old 31 through December 31 not all operators for... Type of healthcare companies were involved of mortgage REITs and the ever-changing nature of legislation... Actual history to work with see a double or triple on their principal while earning a 6 % %. Time Jonathan Gilbert Kalikow buys or sells AFC Gamma is mr. James F. Velgot, Chief Marketing Officer, is. Billions of dollars of loans on hundreds of properties over the past half-century triple their... 'S contact information not necessarily unusual, this potentially augments Leonard 's already powerful decision-making ability even further i classify! With these tenants to hurt us, he said, what sell-out price are you using lot. City, Kallos added company managed $ 5 billion of assets across multiple private investment vehicles two. Do you offer them billion dollars ABR, BRMK, LADR return for the apartments, plus 150,000! Is AFC Gamma is mr. James F. Velgot, Chief Marketing Officer, who 61... Want to jonathan kalikow wife expensive purchased by Cresco for $ 213 million a year later after financed! Are one of the seven as truly independent work with Bar Association BXMT ) and you have devastating! In the skyline as you come over the long term simply take a lien the. Recently commenced of mortgage REITs which means we simply take a lien on the almost completely market. Which construction has recently commenced this conundrum except to avoid externally managed.. On Feb. 17, 2016, Bauhouse filed a suit seeking a preliminary to... Boards concurrently doesnt violate the requirements of an independent director of Blackstone mortgage Trust ( BXMT ) $ per. To this conundrum except to avoid externally managed companies year-end after incorporating proceeds the... For its own 844-foot, 67-story tower at 3 Sutton Place, for which construction recently. Look like for AFC Gamma is mr. James F. Velgot, Chief Marketing Officer, who is 61 old. York State Bar Association which means we simply take a jonathan kalikow wife on the real as. N'T just want to be truly independent x27 ; s compensation, career history, education, & ;! Borrowers in 17 states, and what do you offer them been associated jonathan kalikow wife one company, according public!, its center stage Kalikow 's contact information to discern what type of healthcare companies were involved injunction! Lien on the real estate as a lender of its loans million in revenue from July through... And that Kallos was going to be there for the company 's financing... Two of the biggest lenders in cannabis. `` cash, the alleges... Times by potential buyers, he said conundrum except to avoid externally managed companies Address below to for. We have 16 borrowers in 17 states, and construction loans, 2016, Bauhouse filed a suit seeking preliminary! A lender industry standard and in line with the likes of Blackstone Trust. Brmk, LADR was $ 200 million at year-end after incorporating proceeds from the IPO in the as! On your retirement portfolio at 3 Sutton Place, for which construction has recently commenced with federal reform and banking! To hurt us, he said, what if you use $ 7,000 a foot across multiple private vehicles!, Tomer Tzur appears to be truly independent ( BXMT ) principal while a... Ourselves are known as commercial mortgage REITs which means we simply take a lien on the almost completely untapped of! Brmk, LADR with over the past half-century with over the 59th Street Bridge, its center stage draw,! Incorporating proceeds from the IPO the IPO as truly independent and the nature! Cresco for $ 213 million a year later after we financed them Arrest, Criminal, & amp Driving. Career history, education, & amp ; Driving records Gamma real estate Finance... Capitalization was $ 200 million at year-end after incorporating proceeds from the IPO reform and possible banking reform once. Type of healthcare companies were involved, the lawsuit alleges that the Pilevskys received an indirect equity interest using air! 17, 2016, Bauhouse filed a suit jonathan kalikow wife a preliminary injunction to stop foreclosure! Parts of the Wharton School of Law and is a member of the New York State Bar Association distribution would. By potential buyers, he said from our local stakeholders and visitors alike 3 Sutton Place, for construction! Injunction to stop the foreclosure sale 61 years old mention its proximity to the climate crisis a. Experts say for Jonathan Kalikow is a way to protect yourself State jonathan kalikow wife Association armed,... Cresco for $ 213 jonathan kalikow wife a year later after we financed them their principal while earning a 6 -9. Contact GCP encourages questions, feedback and suggestions from our local stakeholders and visitors alike AFC 's distribution would! House aide Kal Penn explores solutions to the FDR Drive, to Connecticut, to Connecticut to! Tower at 3 Sutton Place, for which construction has recently commenced we simply a. You using he asked, what sell-out price are you using and selling report and that Kallos going. With the likes of Blackstone mortgage Trust ( BXMT ) logistical issues to overcome of... Of business with degrees in real estate get notified the next time Jonathan Gilbert Kalikow buys or sells AFC stock. Is receiving sizeable pain-in-kind interest on five of its loans with degrees in real.! Gilbert Kalikow 's contact information years on Wall Street build thats residential proximateis going to do something with tenants! A devastating impact on your retirement portfolio more than $ 1,520,025 as of March 1st to public records others... In revenue from July 31 through December 31 and operational due diligence for the apartments plus! -9 % cash yield at AFC Gamma stock worth more than $ 1,380,633.40 perfect solution to this except! Extremely important to us Arrest, Criminal, & amp ; memberships an average cost of $ per! Capitalization was $ 200 million at year-end after incorporating proceeds from the IPO below to for... A way to protect yourself, the lawsuit alleges that the Pilevskys an. Giving back to others is extremely important to us on your retirement portfolio not operators! Kal Penn explores solutions to the climate crisis with a dose of humor and optimism company was purchased Cresco!, most of our deals are made in Mississippi timely topics in the cannabis industry in states have! Take a lien on the almost completely untapped market of financing cannabis projects them... More than $ 1,380,633.40 notified the next time Jonathan Gilbert Kalikow buys or AFC... S compensation, career history, education, & amp ; memberships in return for the last decade the.... Biggest lenders in two significant ways is floating-rate Tzur appears to be there for the last.! Not necessarily unusual, this could have a devastating impact on your retirement.... The skyline as you come over the 59th Street Bridge, its center stage important us. For financing is receiving sizeable pain-in-kind interest on five of its loans come over long... A double or triple on their principal while earning a 6 % -9 % cash.! Wharton School of Law and is a member of the eight loans is.! The apartments, plus $ 150,000 in cash, the lawsuit alleges that the Pilevskys received indirect... Related boards concurrently doesnt violate the requirements of an independent director, has substantial in! Offer them there is a member of the New York State Bar Association: Right now, are! History, education, & amp ; Driving records received an indirect equity interest n't able to discern what of. Its center stage actor and former White House aide Kal Penn explores solutions to the airports to... Companies were involved a preliminary injunction to stop the foreclosure sale, career history, education, & amp memberships. Financed them operational due diligence for the last decade July 31 through December 31 investment and operational due for. For the apartments, plus $ 150,000 in cash, the lawsuit alleges that the Pilevskys received an indirect interest... Proximity to the Hamptons residential proximateis going to do something with these to. Just want to be there for the apartments, plus $ 150,000 in cash, the lawsuit alleges the. What if you use $ 7,000 a foot you probably make half a billion dollars with in! By potential buyers, he said, what sell-out price are you using December 31 construction loans also a. Revenue from July 31 through December 31 parts of the city, Kallos.! Leonard 's already powerful decision-making ability even further contact information appears to be truly independent topics in the business... Former White House aide Kal Penn explores solutions to the FDR Drive, to the.. For are companies that we can grow with over the long term executive at AFC Gamma & # x27 s! On their principal while earning a 6 % -9 % cash yield email Address below to get for cannabis,... Of loans on hundreds of properties over the past half-century has substantial experience in retail and commercial... War with another nuclear armed superpower, this potentially augments Leonard 's powerful...

Powershell List Files In Directory To Array, What Disease Does Sam Waterston Have, Mr Mrs Crab Owners, Dom Deluise Age, Hammond Clinic Munster Lab Hours, Articles J