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Zoned Properties®, Inc, a leading real estate development firm for emerging and highly regulated industries including legalized cannabis, has secured an initial debt facility of up to $4.5 million. Securing this debt financing comes from its many years in the cannabis industry creating successful cannabis projects. The main concern for Zoned Properties is ensuring that their tenants or clients succeed in their purchase, selling, or leasing of a property. This experience has led the company to be a part of client brain trusts to see a cannabis project through from start to finish. 

 “We have spent years positioning and building Zoned Properties to become a top-of-class commercial real estate acquisition vehicle for complex and highly regulated industries such as legalized cannabis,” said Bryan McLaren, Chief Executive Officer for Zoned Properties. “Not only does this debt facility allow us to pursue Zoned Properties’ pipeline of exciting property acquisition candidates across the country, but we believe it is also a major signal that sophisticated and trusted companies servicing the cannabis industry are starting to see more access to capital at more competitive rates. We are very excited about the banking relationships that have helped bring this new capital into Zoned Properties. We believe this debt facility, combined with the opportunity to utilize our public vehicle for future equity capital raises, positions Zoned Property to grow its property portfolio to add meaningful value for our shareholders and provide a much-needed full spectrum of real estate services for industry stakeholders.”

With its proven method, the company was able to secure up to $4.5 million in initial debt facility. With this, it secured as a 50% loan-to-value collateralized against the Company’s Tempe property. The company was able to obtain a  6-year loan term on a 25-year amortization with a balloon payable at 72 months. For a company in the cannabis industry, this is a large feat and this relationship with a new banking partner opens the door for expansion of debt facility in the future.

“We plan to utilize raised capital to invest in and acquire projects, which we are already in the underwriting and review stages,” said Dan Gauthier, Chief Legal Officer for Zoned Properties. “The Company’s newly formed Zoned Investment Committee has recruited underwriting expertise that we believe can help accelerate and improve our acquisition process. The Company has a growing pipeline of prospective property investment projects across the country. As we focus in on national expansion for our commercial real estate model, we believe the acquisition of new property investments into our portfolio will continue to fortify the Company for many future years of growth.”

For more information visit www.zonedproperties.com

The post Well-established, trusted ancillary cannabis businesses may be the ticket during a tumultuous economy first appeared on The Marijuana Times.

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