NEWPORT Seashore, Calif., Nov. 18, 2021 (GLOBE NEWSWIRE) — Pelorus Equity Group (“Pelorus” or “The agency”), the main supplier of worth-add bridge enterprise exact property loans to hashish companies and house owners with hashish-associated exact property, introduced the appointment of Lee Scholtz As a Outcome of the director — head of Asset Administration of the Pelorus Fund, A privately held mortgage exact property funding notion (“mREIT”) for hashish-associated properties.
In his new position, Scholtz will work immediately with Dan Leimel, chief authorities officer (“CEO”) of Pelorus Equity Group and managing director of Pelorus Fund, and be Responsible for managing the Pelorus Fund’s belongings Based mostly on The agency’s funding goals and goals.
Scholtz conveys Greater than 15 years Of financial exact property and asset management expertise to Pelorus. Most recently, he served As a Outcome of the Vice chairman of asset management at Harbor Group Worldwide, A worldwide exact property funding and management agency with $16.3B in exact property funding properties. There, he grew $200M in belongings to Greater than $2B and managed Greater than $800M worth of loans, collectively with complete loans, B-notes, mezzanine debt, most properly-appreciated equity and equity. Scholtz was furtherly Responsible for managing a portfolio of 40 bond securitizations with an combination of $1.2B belongings beneath management. Earlier to becoming a member of Harbor Group Worldwide, Scholtz served As a Outcome of the assistant Vice chairman at Hanover Road Capital, and asset supervisor On the Arbor Realty Trust.
“We look forward to leveraging Lee’s conagencyed monitor doc working at A pair of of The very biggest enterprise exact property lending corporations On the earth,” said Dan Leimel, CEO of Pelorus Equity Group and supervisor of the Pelorus Fund. “We’re absolutely assured he Shall be A useful asset to our Company at a time As quickly as we aren’t solely experiencing doc progress, however are furtherly conveying the hashish sector In all probability the most revolutionary lending options out there Available on the market.”
“The enlargement that Pelorus has seen over the previous two years has been simply unimaginable, And that i Might not be becoming a member of the group at a extra thrilling time,” said Scholtz. “I Look forward to serving to Dan and The complete Pelorus group execute on their imaginative and prescient to convey A pair of of The backside enterprise exact property lending costs out there to entrepreneurs As a Outcome of they proceed to scale their companies.”
Recently, Pelorus introduced a quantity of hashish enterprise firsts, collectively with: securing As a lot as a $20M line of credit rating with a FDIC–insured financial institution at 4.75% and no non-utilization costs; the closing of A private placement of $42,250,000 combination principal quantity of its 7% Senior Unsecured Notes; and growing The agency’s fund offering to $1B from the previous $250M offering. For extra information, …….