Deal Close
June 6, 2026
Type
Mixed-Use, 3,945 SF
Price
$2,300,000 / $1,725,000
Ian Weisz
Mid-Atlantic Commercial Team
Executive Summary
This Barracks Row mixed-use building’s tenant mix — including a cannabis dispensary — complicated both financing and title work.
The day before closing, the original title company refused to issue insurance because of the dispensary, forcing an emergency switch to a different provider and signed affidavits from both parties confirming they weren’t directly engaged in cannabis sales. The listing itself traced back to a relationship built selling the building next door the year before.
The Challenge
Initial pricing expectations from the seller ran well above what the market would support, and the dispensary tenant created both a financing challenge (not every lender will touch cannabis-adjacent collateral) and, ultimately, a last-minute title insurance crisis that threatened to derail closing entirely.
The Solution
Greysteel worked to bring the seller’s pricing expectations down to a level the market would actually clear, while proactively lining up lenders comfortable with a cannabis-tenant building before taking the deal to market. When the title issue surfaced the day before closing, the team pivoted to an alternative title provider and secured the affidavits needed to get coverage issued in time.
- Results
- $2,300,000 sale price, with $1,725,000 of acquisition financing at 75% LTV
- Last-minute title insurance crisis resolved via an alternative provider and signed affidavits, without delaying closing
- Financing secured despite the specialized cannabis-adjacent tenancy
- Assignment sourced from a prior neighboring transaction — a direct case of one listing generating the next
“The asset’s cannabis dispensary tenant created valuation, financing, and closing challenges. After guiding the seller to a revised pricing strategy, Greysteel secured a buyer and overcame last-minute title insurance issues by identifying an alternative provider. The team also arranged 75% loan-to-value financing with flexible terms despite the specialized tenancy.” — Ian Weisz and Jeffrey Greenberg, Greysteel Lead Deal Contact, Mid-Atlantic Commercial and Debt Placement Teams
Greysteel Advisory Expertise
Greysteel is a commercial real estate advisory firm specializing in investment sales and debt and structured finance, serving private investors, middle-market operators, and institutional clients nationwide.
The firm provides sector-focused advisory across multifamily, healthcare, and affordable housing and other commercial real estate asset classes, delivering market intelligence, capital markets expertise, and disciplined execution.
