Industrial Cannabis Warehouse
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 Details
| Location | Aurora, Colorado |
| Loan Amount | $3,100,000 |
| Loan Type | Cannabis CRE |
| Loan Purpose | Acquisition |
| Project Date | 12/02/2021 |
About AVANA CUSO
Established in 1998, AVANA CUSO is one of the most seasoned credit union service organizations (CUSO) with a focus on commercial real estate lending. Driving excellence through end-to-end customer service and our investments in technology, AVANA CUSO supports credit unions, including connecting them with commercial real estate entrepreneurs, brokers, and small business owners through participation lending.
Our mission is to help credit unions diversify their lending portfolios by expanding their lending programs beyond local communities, mitigating concentration risk while enhancing loan-to-share ratios.
Part of the AVANA Family of Companies, AVANA CUSO strives to improve communities by funding socially responsible projects that boost economic growth and foster job creation. AVANA CUSO is headquartered in Glendale, Arizona.
