But thats not all. That amounted to total gross proceeds of $118.75 million. [3] [4] He is also a voice artist. I have no business relationship with any company whose stock is mentioned in this article. The lead director is affiliated rather than independent and appears to have a very close business relationship with the CEO. This April, CO reported that Gamma had spent the previous few months demolishing the three tenement buildings that had previously occupied the site. This idea was discussed in more depth with members of my private investing community, iREIT on Alpha. LT: We have not currently made any loans to operators in California, Washington, Oregon or Oklahoma. And incorporating the largest residential mREITs similar to the construction of VanEck's Mortgage REIT Income ETF (MORT) still creates a yield of roughly 7.2%. RT: AFC Gamma is a commercial mortgage REIT. Known for. Learn More on Jonathan Gilbert Kalikow's trading history. Mr. Harrison is currently Senior Operating Partner at Merida Capital Partners, "a private equity firm specializing in the cannabis ecosystem.". His estimated net worth is $600000. [We told them] were not Beninati: We know what were doing, and were building for New York buyers because this is a New York enclave, Kalikow said. In July 2016, Beninati brought a 26-count lawsuit against Gamma, alleging improper conduct and that Gamma breached contracts between the two parties. Recently IPO-ed companies can be quite the endeavor to analyze. 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. Acreage has one of those prized licenses, and we're looking forward to helping them continue building it out. Learn More on Jonathan Gilbert Kalikow's contact information. 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. We look forward to making our first of many donations shortly and positively impacting these communities. Please disable your ad-blocker and refresh. Another was that my father remarked to one of the borrowers that he liked his pen, and they said that showed the closeness of the relationshipI shit you not. Includes Age, Location, Address History for Jonathan Kalikow; Arrest, Criminal, & Driving Records . So we tend to work with three different buckets of operators. The rest are likely or highly likely to be disproportionately influenced by the CEO due to past or ongoing outside business relationships. This unique partnership approach with each of our clients allows us to find solutions to help them expand and grow alongside them. Information is often lacking there, and one has to dig very deep to uncover the full picture. Jonathan Kalikow. RT: Since starting AFC Gamma, we have completed almost $500 million of transactions we provide capital to an industry that others do not and, in turn, allow these operators to build cultivation facilities, production facilities, and dispensaries. He also holds a JD from Fordham University School of Law and is a member of the New York State Bar Association. Brad Thomas is the CEO of Wide Moat Research ("WMR"), a subscription-based publisher of financial information, serving over 10,000 investors around the world. But it will take time to build that out, get the market set up and have some of the regulations probably become more favorable. Learn More about Jonathan Gilbert Kalikow's net worth. With the expansion of dispensaries, we believe those cultivation licenses will only become more valuable as well as the dispensary locations. Len Tannenbaum: When I was 27, I founded Fifth Street, a finance company specializing in raising funds from private investors and investing in middle-market companies. AFC is externally managed, which isn't unusual for an mREIT. When Bauhouse filed its plans for the 87-story tower, Sutton Place locals made a bid for a zoning change that would block super-tall skyscrapers in Sutton Place. But weve been very under the radar when it comes to lending. Actor and former White House aide Kal Penn explores solutions to the climate crisis with a dose of humor and optimism. You may opt-out by. Oh, and there was a bankruptcy filing in between. Since that also applies to his grammar, please excuse any typos you may find. LEWIS J. LIMAN, United States District Judge: OPINION AND ORDER LEWIS J. LIMAN, United States District Judge: This case arises from the financing and development of two parcels of land outside Dallas, Texas, known as Wade Park. While the then-single Robyn joined the firm in March 2014 while Leonard was still married to his second wife, Stacey Thorne. Jonathan Kalikow was born and raised in New York. There is still a limited subset of institutional investors who are comfortable with cannabis, despite us being listed on NASDAQ. Jonathan Kalikow Principal of Manager, Head of Real Estate and Class II Director of AFC. And expected credit losses of $465,397 equate to 0.5% of its total capitalization. Learn More on Jonathan Gilbert Kalikow's trading history. Founder of Gamma Real Estate Capital Management, Inc., Jonathan Kalikow presently occupies the position of President for Gamma Real Estate Capital Management, Inc. and Director & Head-Real Estate at AFC Gamma, Inc. There, he invested across industries and asset classes on behalf of institutions, family offices, and wealthy individuals as a proprietary trader at Morgan Stanley and then as a hedge fund portfolio manager and trader at various funds and firms. Has the Foundation made any headway this year to support local communities? Dr. Jonathan Eisenstat testifies during Alex Murdaugh's double-murder trial at the Colleton County Courthouse in Walterboro, South Carolina, on Feb. 27, 2023. He is the son of N. Richard Kalikowthe chairman and chief executive officer of Gamma and cousin of Peter Kalikow, the former Metropolitan Transportation Authority chairman and the founder of real estate firm H.J. When youre looking at this building in the skyline as you come over the 59th Street Bridge, its center stage. One early loan that we funded was with a company called OnePlant, run by Brady Cobb. Based on her biography, Robyn's career started in 2007. But [Beninatis counsel] filed a document that said [3 Sutton Place] is not a single real estate asset. Address: 101 Park Avenue, Suite 2602, New York, NY, 10178, United States Phone: 212-922-0222 Fax: 212-922-2121 Website: Once Jonathan was on board, Len and I built AFC Gamma from the ground up at home during the height of the pandemic lockdown. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. As of the date of the S-11 filing associated with the IPO, AFCG had a sizeable $5.5 billion loan pipeline. But it is obtaining very compelling internal rates of return on its loan investments. Not to mention its proximity to the FDR Drive, to Connecticut, to the airports and to the Hamptons. SUITE 1770, WEST PALM BEACH FL, 33401. It has committed to lending another $30 million to existing borrowers and to two new borrowers, according to the release. LT: Exactly right, cannabis companies, no matter the size, traditionally lack the lending opportunities that other enterprises have available, and that's where AFC Gamma comes in. Kalikow and Co. And as we sat down with him for lunch at the 101 Club, we got the sense that he doesnt pull punches. Len, who serves as CEO of the AFC Gamma.and previously founded Fifth Street Asset Management, which he eventually sold to Oaktree, also founded LMT Investments, a single family office that is focused on allocating capital across various strategies, including credit via Tannenbaum Strategic Credit Fund, which is a $100M+ fund, equities and real estate. 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. Beninati had a different perspective, describing Gammas role as active in court documents, saying that the lender demanded that the developers make dozens of changes to the project design, implementation and construction. Jonathan Kalikow NY, age 52, female. What is the teams strategy for building a diverse portfolio? Our platform includes a publicly-traded company, a private BDC and a network of Family Offices that allows us capacity to support portfolio companies over long periods of time. If we move to a fast-growing, small mREIT like Arbor Realty (ABR), the situation isn't much different. In return for the apartments, plus $150,000 in cash, the lawsuit alleges that the Pilevskys received an indirect equity interest. China Equity Emerging Markets Gold and Silver International Dividend US Dividend US Energy US High Dividend US Large Cap Growth US Large Cap Value US Mid Cap Growth US Mid Cap Value US REIT US Small Cap Growth US Small Cap Value US Sustainable (ESG) We understood [Beninatis] shortcomings but we saw a lot of embedded value, Kalikow said. The Kalikows arent exactly wet behind the ears when it comes to real estate lending. Then you have the tier right below the top tier MSOs, where you have some public like Acreage, who is one of our borrowers, and then some private like Nature's Medicine and Justice Grown. It comprised a $145. Get notified the next time Jonathan Gilbert Kalikow buys or sells AFC Gamma stock. LT: Right now, we are one of the biggest lenders in cannabis. These companies can't even get bank accounts. Learn More about Jonathan Gilbert Kalikow's net worth. As of February 15, theyve also reviewed 273 loans, 10 of which were funded; entered into non-binding term sheets for five more; began a syndication commitment letter for another; and were in the process of evaluating 23. The company was incorporated in 2020 and is based in West Palm Beach, Florida. Kalikow, the 47-year-old married father of four girls ages 8, 10, 12 and 17, is the president of Gamma Real Estate and a man of real estate pedigree par excellence. I was on the stand for seven hours, Kalikow said. The hurdles that you overcome as any growing company is the need for additional talent as you scale. Create a free family tree for yourself or for Jonathan Kalikow and we'll search for valuable new information for you. Its like a bunch of seventh graders picking a fight with a Navy Seal platoon. FILE - Jonathan Majors poses for a portrait to promote the film "Magazine Dreams" at the Latinx House during the Sundance Film Festival on Friday, Jan. 20, 2023, in Park City, Utah. I am not receiving compensation for it (other than from Seeking Alpha). Also, our amount of repeat borrowers is huge.. Our coverage spectrum includes equity REITs, mREITs, Preferreds, BDCs, MLPs, ETFs, and we recently added SPACs to the lineup. I guess its hurt a little bit in terms of [business driven by] word of mouth, but because we have a 50-year history of doing this, were [easily vetted]. New York City . We really like the state of Ohio as the market continues to be ripe for cannabis operators since its a limited license state. Simply put, its legally owed previously paid incentive fees to the external manager if adjusted capital isn't at least 7% higher than the end of the previous fiscal year. On the other hand, we also have other vehicles that don't necessarily need real estate as collateral. JB: Although AFC Gamma is open to lending to all aspects of cannabis production, Im sure not all operators qualify for financing. We have it in our [loan] documents that if you do anything to fight a foreclosure youre fully personally liable, but if you turn over the deed, youre not personally liable, Kalikow said. The higher end of that range equates to an 8.3% yield. Please don't hesitate to contact us and let us know how we can assist. Im sure itll be successful because there are a lot of powerful people involved who are smarter than me, but I dont see us building new tunnels or bridges or subway lines any time soon., I tend to be a very under-the-radar person, Kalikow explained. But common sense and statistical analysis does indicate greater risk of lower quality Board of Directors construction and efficacy. RT: Given our focus on limited license states, our two favorite medical markets, aside from Florida, currently are Ohio and Pennsylvania. JB: What does the competitive landscape look like for AFC Gamma? 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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. AFC Gamma executed an IPO on March 19, 2021. [The] Corcoran [Group], our sales team, will say, Oh, well people will go anywhere, and maybe they will, but my father would absolutely sell Fifth Avenue to move to Sutton [Place]. For now, Kalikows eyes are firmly on the finish line. Amy D Scott Jonathan G Kalikow. Jonathan Scott i jego brat bliniak zadebiutowaliich pierwszy reality show, Property Brothers, w 2011 roku. But the community was up in arms long before Gamma took over the property. Company/Fund Name: Gamma Real Estate Capital Management, Inc. JB: Tell me more about the AFC Foundation. This does offer investors an average amount of protection, though its still far from perfect. Beninati also alleged that Gamma was not a lender but a partner and acted as equity, Kalikow said. Moving down the line, Tomer Tzur appears to be truly independent. Jonathan specializes in catalyst-driven markets with high barriers to entry, which he now applies to Gammas nationwide opportunistic real estate investment and hard money lending strategies. The stock was acquired at an average cost of $15.62 per share, with a total value of $899,712.00. Why? Performing as Jesus in The Chosen. Once. 9. Both Robyn and I knew that being listed on NASDAQ would be crucial to our success. One of our lawyers called up his lawyer and said, Did you guys make an error? They said, No. Bauhouse also alleged that Gamma had a different motivation than a traditional lender and seized greater control by refusing to fund the project in accordance with loan documents. That isn't unfavorable given how challenging even the latter half of 2020 was. AFC Gamma seeks to work with operators, preferably in limited license states. And, with few exceptions, companies involved are heavily excluded from the financial system. The hurdle rate or minimum amount of core earnings produced on a percentage basis applicable to the performance fee (otherwise known as the incentive fee or carried interest) paid to the external manager is 2% per quarter. RT: Many success stories have resulted from our funding and operators that we provided capital to build and expand their businesses. But based on 2020 data incorporated in SEC filings and assuming a 100% payout ratio. Were prepared to build it. We offer a flexible solution to meet the needs of our borrowers. New York City Council District 5 representative Ben Kallos first discovered news of Bauhouses planned development from a local resident while attending an Easter egg hunt in April 2015. 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. 220 E 72nd St #16D, New York, NY 10021, lived here in 2019 $3,040: C. 350 Madison Ave, New York, NY 10017, lived here in 2013 $3,040: D. We see relatively heavy volume on the day of the IPO, though that quickly subsided. The fact of the matter is, lawsuits cost a lot of money. The Sovereign has taken the laboring oar, no doubt, but there are many buildings that have contributed substantially., One would assume that some of the shine would come off 3 Sutton Place amid the war raging around it, but Kalikow isnt walking away. Mr. Kalikow specializes in what he terms "catalyst-driven markets with high barriers to entry," a strategy that he applies to Gamma's debt . Bloomberg Markets: China Open is the definitive guide to the markets in Hong Kong and on the mainland. 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