At Pelorus, we consider ourselves specialists. We are able to navigate the sometimes choppy waters of real estate financing. We understand that the perfect situation is rare when it comes to real estate investing. When there are problems with title, property conditions, property types, traditional loans aren’t always available. That’s when you turn to Pelorus.
We have assembled a team of professionals that can not only secure your financing, but we can also get you closed quickly. By tapping into our network of partners, we can move as fast as you need to.
Mr. Leimel is the CEO of Pelorus Equity Group and the Managing Director of The Pelorus Fund. He has more than 28 years of extensive industry experience including operating, owning and managing several corporations, loan servicing entities, and a real estate fund. Over his career, Mr. Leimel has successfully underwritten and closed thousands of real estate transactions by raising capital for both debt and equity. His vast transactional experience is invaluable when underwriting complicated scenarios and structuring solution-based terms to satisfy a broad spectrum of situations. Mr. Leimel possesses deep experience in risk mitigation and has expertly navigated adverse client conditions while still maintaining a fully transparent and equitable upside for the investor. His primary investment philosophy is to focus on capital preservation and mitigating risk in every investment. Mr. Leimel finds that the balance of his faith and his family is what motivates and drives him. He has been married for 20 years and has three beautiful children.
Rob is the co-founding President of Pelorus Equity Group and has more than 18 years of experience in the real estate finance industry. Since the formation of Pelorus in 2010, he has raised more than $190,000,000 in secured real estate transactions. Rob’s primary role at Pelorus Equity Group is the development of strategic alliances with both private and institutional investors, the formation of equity partnerships, coordinating the company’s growth into new markets and as an underwriter of transactions. Rob also oversees the direction of the marketing programs to borrowers, brokers, and investors. Today, Pelorus raises several million a month through the company’s investors and equity partnerships. Prior to joining the real estate industry, Rob was the founder and CEO of an international action sports manufacturing company. He has also managed medical product sales in Southern California as well as trained the sales reps nationally for an orthopedic manufacturer. Rob earned a BA from San Diego State University. Licenses include California Real Estate Broker’s License, NMLS License and designated expert witness as an asset-based lender. He is also the CEO of JRS Capital USA, Inc. a real estate consulting firm based out of Newport Beach, California. Currently a member of Gen Next and a donor to the Gen Next Foundation. Rob is married and has a son.
The illiquidity of capital in the cannabis lending market has created and opportunity with inverted risk to yield ratios that is only seen in very rare circumstances, often created by political or other market forces that last for shorter periods of time. This opportunity allows us to lend to bank quality sponsors and assets with near equity-like returns. Additionally, we only lend in States in which Medicinal Cannabis has been approved, which offers our borrower's tenants the maximum safe harbor protections offer by the Rohrabacher–Blumenauer Amendment. This Amendment prohibits the Department of Justice from using federal funds to prevent states with medical cannabis regulations from implementing laws that authorize the use, distribution, possession or cultivation of medical cannabis. We expect the Federal agencies to deconflict the federal agencies with regard to cannabis banking within the next 18 to 36 months. Once the IRS, DEA, FDIC, and other various three-letter agencies are deconflicted the market will become more normalized and our loans will be paid off by lower costs loans. However, our focus will remain the value-add bridge lender market, which we have always successfully completed against institutional banking. This is because we can lend on completed values/stabilized values, which banks must use the cost basis, and move through underwriting to closing in days as opposed to the weeks or months intakes the banks.
The Pelorus Fund is focused on providing lower leverage loans 50% to 60% LTV secured by commercial industrial/warehouse type properties and allows for cannabis-related business tenants. The Fund Manager shares income with the Fund Members and has a targeted yield of 15%. The Fund operates under the Department of Real Estate and the Department of Business Oversight and is audited by Armanino each year.