Financial Giant Challenges Cannabis Company

In a bold move, Pelorus Fund REIT, LLC., a prominent private mortgage real estate investment trust, has filed a complaint aimed at placing StateHouse Holdings Inc. into receivership. This strategic legal action comes in response to StateHouse’s default on four existing loans, prompting Pelorus to seek the Court’s intervention for the immediate appointment of a Receivership over the Company’s assets and operations.

The Stakes at Play

As a major lender to StateHouse, Pelorus recognizes the underlying value in the company’s operations, employees, and assets. Dan Leimel Jr., the Chief Executive Officer of Pelorus, emphasized the potential benefits of a court-appointed Receivership. This move is intended to safeguard StateHouse employees, customers, and partners while enabling the company to maintain its production and distribution capabilities. By steering StateHouse towards a more streamlined and effective structure, Pelorus aims to secure a sustainable future for the embattled company.

A History of Resilience

Pelorus Capital Group, operating under the Pelorus Fund REIT, LLC umbrella, boasts a long history of innovative real estate transaction solutions. With a track record spanning over 30 years and involving more than $1 billion in real estate investments, Pelorus leverages its extensive experience to navigate complex financial landscapes and facilitate timely closings. The current legal maneuver underscores Pelorus’ commitment to strategic decision-making in the face of challenging circumstances.

Looking Ahead

As the legal proceedings unfold, the industry awaits the Court’s decision on the appointment of a receiver for StateHouse Holdings. Pelorus Fund REIT’s proactive stance reflects a calculated approach to protect the interests of all stakeholders involved. By fostering a more efficient operational framework for StateHouse, Pelorus aims to pave the way for a sustainable and prosperous future in the ever-evolving cannabis sector.

About Pelorus Capital Group and Pelorus Fund REIT, LLC:

Pelorus Capital Group offers a range of innovative transactional solutions addressing the diverse needs of real estate investors and portfolio managers. Our flexible acquisition and bridge lending programs are the direct result of our involvement in more than 4,700 transactions of varying size and complexity. Since 1991, our principals have participated in more than $1 billion of real estate investment transactions using both debt and equity solutions. We draw on our extensive experience to rapidly understand an opportunity, structure a logical solution and execute a timely close. For more information, please visit peloruscapitalgroup.com.

Contact Information:

ASC Advisors
Taylor Ingraham / Elizabeth Amory
tingraham@ascadvisors.com / eamory@ascadvisors.com
203 992 1230

View original content: Pelorus Fund REIT Files Complaint

SOURCE Pelorus Fund REIT, LLC.