Selected Transaction History

In partnership with Pacific Retail Capital Partners, selected to lead exclusive negotiations for managing seven regional malls owned by Starwood West Limited, approximately 8M sq ft across OH, WA, CA, and IN. Capital stack: ~$1B total (~$780M senior debt + 910M ILS in Israeli shekel bonds). Represented the ILS bondholders (Tel Aviv District Court) through the workout. Named the largest shopping center transaction of 2020 since the pandemic.

Personally structured and led PCG 2023-1, the first-ever securitization backed by collateral in the cannabis sector. $70M total deal size ($45M public single-tranche, $25M retained by Pelorus), placed through Performance Trust with Cadwalader, Wickersham & Taft as legal counsel. Floating rate tied to one-month SOFR. Attracted institutional investors and hedge funds at a moment when most market participants believed securitization in cannabis was impossible without legislative reform.

Led the conversion of Pelorus Capital's debt program to the first-ever A-rated secured cannabis bond, the highest credit rating achieved in the cannabis finance sector. The upgrade validated the fund's collateral quality and institutional underwriting approach, opening access to a broader universe of institutional capital.

Led the first-ever unsecured senior notes offering in the cannabis sector, rated BBB+ by Egan-Jones, placed by Piper Sandler & Co., with Dentons as company counsel. 7% coupon, 5-year maturity, September 2021 close. Initial offering of $42.5M was ultimately grown to $50M placed. The transaction marked the first time a cannabis company accessed the institutional bond market without real estate collateral, representing a landmark in the maturation of cannabis capital markets.