Advanced Flower Capital Announces the First Closing of its Cannabis Mortgage Real-Estate Investment Trust

Advanced Flower Capital | August 18, 2020

Advanced Flower Capital Announces the First Closing of its Cannabis Mortgage Real-Estate Investment Trust
AFC Gamma Inc., a commercial-mortgage real-estate investment trust ("REIT"), announced today that it has completed a first close of its $200 million investment vehicle, having raised approximately $80 million of equity from over 20 large family offices.  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. With companies in the industry continuing to face challenges accessing capital, AFC Gamma was founded to fill a void in the market by providing funding that these companies need to expand and operate their businesses.  The company has already provided debt financing for five companies, including dispensaries, cultivators, processors, and combined operations. To date, AFC Gamma has funded about $50 million in six transactions across five borrowers and has committed approximately an additional $30 million, to its existing borrowers and to two new loan originations closing shortly.

Spotlight

In this How to video Contractor John will show you where your water shutoff valves are located as well as where your gas shutoff valves are located

Related News

essensys plc Announces the Launch of STEP, Its Flexible Office Software and Technology Solution for Landlords and Property Owners

essensys plc | June 19, 2020

essensys, the leading global provider of mission critical software-as-a-service ("SaaS") platforms and on-demand cloud services to the flexible workspace industry, announces the launch of STEP, its Software and Technology Enabled Property solution, designed to equip landlords and property owners with the technology needed to address the growing demand for flexibility. Occupiers' demand for flexible real-estate products is accelerating. Landlords are under increasing pressure to manage this shift as they respond to shorter lease terms, changing occupier behaviors and needs, and niche office space requirements. At the same time they must remain alert to new opportunities to provide additional value to occupiers, using tenant experiences, services and amenities to help differentiate in an increasingly competitive market.

Read More

REAL ESTATE INVESTMENT

Zillow Group Closes Acquisition of ShowingTime, the Industry Leader in Home Touring Technology

Zillow Group | October 04, 2021

Zillow Group (NASDAQ: Z and ZG), which is transforming the way people buy, sell, rent and finance homes, today announced the closing of its acquisition of ShowingTime, an online scheduling platform for home showings. Touring is one of the most important steps in the home shopping and selling journey, and ShowingTime's technology has streamlined and improved the touring experience. The company is an industry leader, and Zillow Group will continue to invest in ShowingTime to improve its functionality. ShowingTime's technology coordinates scheduling behind the scenes so agents can seamlessly book a confirmed home showing online and focus on their clients, simplifying a traditionally complicated and cumbersome process. In the past 12 months, the company has facilitated more than 63 million showings across its network of more than one million agents affiliated with hundreds of Multiple Listing Services (MLSs). Under the Zillow Group umbrella, Zillow Group will adhere to ShowingTime's existing privacy policy, and it will continue to operate as an individual brand and open platform for its existing and new clients, so the industry can continue to benefit from a simplified tour scheduling experience. Zillow Group entered into a definitive agreement to acquire ShowingTime in February 2021 for $500 million. The transaction was successfully closed upon meeting customary closing conditions. About Zillow Group: Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life's next chapter. As the most visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting or financing with transparency and nearly seamless end-to-end service. Zillow Offers® buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline. Zillow Home Loans™, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase. In September 2020, Zillow launched Zillow Homes, Inc., a licensed brokerage entity, to streamline Zillow Offers transactions. Zillow Group's affiliates and subsidiaries include Zillow®, Zillow Offers®, Zillow Premier Agent®, Zillow Home Loans™, Zillow Closing Services™, Zillow Homes, Inc., Trulia®, Out East®, ShowingTime, Bridge Interactive, dotloop, StreetEasy®, HotPads®. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 About ShowingTime: ShowingTime is the industry leader in home touring technology and a proud affiliate of Zillow Group. ShowingTime's technology and services simplify the online tour scheduling process for buyers, sellers and agents across the industry. ShowingTime products are used in hundreds of MLSs representing more than one million real estate professionals across the U.S. and Canada.

Read More

REAL ESTATE TECHNOLOGY

Transactly Acquires Moncord Real Estate Professional Services

Transactly | June 08, 2021

Transactly, a rapidly growing Real Estate Transaction Platform, has announced the acquisition of Moncord Real Estate Professional Services based in Bellevue, Washington. With this acquisition, Transactly further expands their national network of tech-enabled Transaction Coordinators -- already the largest in North America -- to include Moncord’s vast team of coordinators in the Pacific Northwest. “We are excited to welcome Moncord into the Transactly family,” says Transactly founder and CEO Bryan Bowles. “Alex and Lisa Mont-Ros have built an incredible team of talented individuals at Moncord. This acquisition significantly increases Transactly’s ability to serve agents, teams, and brokerages in all key markets across the country.” Moncord was founded by Alex and Lisa Mont-Ros, a husband and wife duo whose leadership in recent years has grown Moncord into the leading transaction coordination service in the Pacific Northwest, helping their clients close over $5 billion in transactions. “This is a natural next step for Moncord,” said Alex of the acquisition, “Our goal has always been to empower TCs so they can be their best, which enables real estate agents to focus on efficiency and growth. With Transactly’s ever-improving tech -- which truly stands alone in the industry -- our coordinators will continue to deliver the level of excellence which clients have come to expect from both Moncord and Transactly.” Transactly has retained all existing Moncord staff, and is enrolling all transaction coordinators and clients into their technology platform to ensure an ever-improving digital client experience -- something that is otherwise lacking in the real estate industry.

Read More

Spotlight

In this How to video Contractor John will show you where your water shutoff valves are located as well as where your gas shutoff valves are located