The borrower is refinancing their industrial property. This is a refinance to pay off existing liens on the property. The borrowers have a licensed cultivation cannabis operation at the industrial property. They have been in this business for over 10 years. Their brand is called Farmhouse. The industrial property was just appraised for $2.2m. It is 11,000 sqft in an industrial part near DTLA. They are using cash out to payoff a lien on their retail building in North Hollywood. Borrower has excellent credit.
Contact Garret Hecker at (805) 208-6419 for more details.