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AVANA Companies closed a $3,100,000 CRE loan package on a industrial cannabis warehouse property located in Aurora, CO.
Currently in a gray shell condition, AVANA provided financing for the purchase of the property as well as financing for approximately $400k in tenant improvements. The investor will own the industrial property which it will lease to its affiliate to use as a grow house and cultivation facility.
The investor recently celebrated it’s fourth anniversary since opening their doors in 2017. The first location was medical-only cannabis shop in the Highland, CO. In October 2018, they opened a recreational store in downtown Denver, and their third location in Cherry Hills opened in October of 2020. AVANA is proud to help support the growth of this cannabis business investment group.
| Loan Amount | $3,100,000 |
| Loan Purpose | Acquisition |
| Loan Type | Cannabis CRE |
| Project Date | December 2, 2021 |