Home Business Gloria Govan Named General Partner of Cannabis Real Estate Lender Alta II

Gloria Govan Named General Partner of Cannabis Real Estate Lender Alta II

by Quincy Thomas
0 comment

Gloria Govan, Founder/President of RLNTLSS Brands and a trailblazing cannabis leader, has been named General Partner of Alta II, a leading real estate lender committed to providing innovative and efficient financing solutions to the cannabis sector.

Govan brings over a decade of experience, as well as a commitment to DE&I and innovation, to the forefront of the cannabis real estate lending market in this role.

Gloria Govan, who became interested in cannabis after her mother was diagnosed with breast cancer in 2005, has become a sought-after pioneer in the cannabis industry.

Govan has earned a reputation as a dynamic and forward-thinking leader due to her ownership of 13 vertically integrated licenses throughout Southern California, as well as her passion for modernizing and elevating the cannabis space for brands, vendors, and consumers.

Her goal with this collaboration with Alta II is to increase access to financing for minority-owned cannabis businesses, particularly those owned by women of color.

“Cannabis is my passion and as a long-time entrepreneur working in the business, I know how challenging the barriers to entry can be for minorities and women,” said Gloria Govan, Founder of RLNTLSS Brands. “Identifying women and minority-owned businesses will be a goal for me as general partner and together with Alta II, I hope to pave the way for a more diverse and inclusive future in cannabis.”

Alta II, which debuted in 1Q24, is the second investment vehicle of Alta Real Estate Fund (“Alta”), a leading real estate lender that has exclusively served the cannabis industry since 2019.

The target $100 million dollar fund, with Govan at the helm, will be used to provide real estate financing for qualified cannabis businesses nationwide, with a focus on increasing access to capital for minority and woman-owned cannabis businesses, which have traditionally been overlooked and underfunded by investors in the space.

As medical and adult-use marijuana legalization spreads across the country, the cannabis industry is seeing an increase in demand for production facilities, dispensaries, and other cannabis-related properties.

However, because cannabis is still illegal at the federal level, financing these property acquisitions through traditional sources such as banks is nearly impossible.

As a result, Alta has emerged as a specialized real estate lender providing streamlined and innovative financing solutions tailored to the cannabis industry’s unique needs.

Understanding the industry’s unique needs and challenges, particularly the lack of access to institutional financing due to the continued federal prohibition of cannabis, Alta offers tailor-made solutions that enable operators to leverage their real estate assets for growth capital.

Alta has invested over $75 million across multiple transactions since its inception, generating impressive returns for Alta’s investors while providing funding to cannabis companies in multiple states.

Alta takes pride in enabling and empowering cannabis businesses to reach their full potential. Alta provides efficient access to capital for a historically underserved industry through multiple financing structures such as sale-leasebacks and senior secured term loans.

Alta seeks to collaborate with entrepreneurs who share its commitment to increasing sector diversity and de-stigmatizing cannabis use.

“Alta has embraced and supported the cannabis industry for years, quickly becoming one of the top real estate lenders in the space. With the launch of Alta II, we will continue executing our mission of providing growth capital to cannabis companies through real estate. As a minority-owned fund manager, we look forward to Gloria joining our team to reaffirm our commitment to diversity, equality, and inclusion in our underwriting and investment practices,” said Jade Green, General Partner of Alta and Alta II.

Discover more from Where Is The Buzz | Breaking News, Entertainment, Exclusive Interviews & More

Subscribe to get the latest posts sent to your email.

You may also like

Leave a Comment

Discover more from Where Is The Buzz | Breaking News, Entertainment, Exclusive Interviews & More

Subscribe now to keep reading and get access to the full archive.

Continue reading