Advanced Flower Capital | August 18, 2020
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.
REAL ESTATE INVESTMENT
33 Holdings, LLC | August 13, 2021
33 Holdings LLC announced the signing today of a merger agreement to acquire interest in Beers Housing Inc., a General Contractor and a leading service provider in mortgage field services, maintenance, rehab, construction and development in the southeast US. The M&A is expected to strengthen 33 Holding's vertically integrated real estate platform executing value-add and opportunistic real estate projects.
"Joining 33 Holdings LLC is an incremental progression in our quest to build a world class mortgage field services and construction service business," commented Chad Beers, Founder & Chief Executive Officer of Beers Housing Inc. "As part of 33 Holdings LLC, we will be able to serve 33's existing portfolio as well as attract new industry-wide clients. This is truly an exciting relationship for our customers, vendors and employees and will help position our business for strong growth in the future," he stated.
"This investment in Beers Housing Inc., presents a great opportunity for 33 Holdings LLC to add a leading mortgage field services & construction services business to our platform," stated Sanjay Raghavaraju, Founder & Chief Executive Officer of 33 Holdings LLC.
"With this merger, it will create a fully functional private equity real estate company that will create higher returns and faster delivery of real estate projects to our clients," stated Corey Oldknow, Broker & Chief Acquisitions Officer of 33 Holdings LLC.
Under the terms of the agreement, Beers Housing Inc., will operate under the Beers Construction Partners (BCP) name and under the current leadership. In addition, Heather Beers, Managing Partner of Beers Housing Inc., will take on the role of Chief Operating Officer (COO) at 33 Holdings LLC & Beers Housing Inc., helping with the integration of the two companies while ensuring value to Investors and Clients over the next few months. Both Chad Beers & Heather Beers will join Corey Oldknow & Sanjay Raghavaraju as Principals of 33 Holdings LLC.
"Beers Housing Inc., is excited to join the 33 group of companies," said Heather Beers, Managing Partner of Beers Housing Inc. "Our respective cultures, goals and investment philosophies are very much aligned. Beers Construction Partners (BCP) will remain a leading Mortgage Field Services & Construction Services firm, now benefiting from the support of 33's significant financial and operational resources. The partnership with 33 ensures that BCP's principals will remain majority-owners of the firm. With this integration, we see a growth opportunity given the seismic shifts in the real estate market, which our partners and staff will thrive, enabling us to better serve our investors and impact the communities we operate in."
About 33 Holdings LLC (33)
33 Holdings LLC specializes in real estate investment, acquisition, development, construction and asset management across the Southeast US with a concentration on primary and secondary markets. Sanjay Raghavaraju founded 33 Holdings LLC on the premise that investment in real estate should be driven by sound market fundamentals, a flexible time horizon and strong alignment of interest between investors and managers. 33 Holdings has a strong track record of driving investment results. 33 Holdings differentiates itself by providing hands-on real estate investment management, creative deal structuring, and transparent communication with investors.
About Beers Construction Partners (BCP),
Beers Construction Partners specializes in maintaining and adding value to bank and investor assets throughout the Southeast by using a hands-on approach with a hybrid employee/subcontractor base model. Chad Beers, founded Beers Housing in 2007 with a strong focus on the mortgage field service space as well as fix and flip and has been able to adapt to various services lines with the strong leadership and client relationships brought in by Heather Beers to not only meet but exceed the industry and economical needs in the housing market. Beers Housing now has multiple service lines to include mortgage field services, maintenance, rehab, ground up construction and development.
AnyCurb | July 21, 2020
Homebuyers continue to be limited by the lack of housing inventory. However, Chicago's Tech-Enabled Brokerage, AnyCurb discovered that there may be additional inventory hiding in plain sight. "We found that 42% of homeowners would sell their home if presented with a fair-market offer. Consumers and real estate professionals are accustomed to viewing the world in terms of a buyer's market, or a seller's market...when what needs to exist is a fair market," said Danyal Ali, founder, and CEO of AnyCurb. Danyal started AnyCurb in Naperville with a mission to create a more efficient real estate marketplace. Drawing from personal experience, Danyal's family wanted to downsize but were always limited by the stressors of selling. His experience paired with an analytical background led Danyal down a path of discovery to better understand the number of families facing the same circumstances.