Headquartered in Miami Beach, FL Fiscal year ends December NASDAQ: REFI refi.reit
Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) is a commercial mortgage REIT that originates and manages senior secured loans primarily to state-licensed cannabis operators in limited-license states across the United States. The company leverages deep cannabis, credit, and real estate expertise through its external manager, Chicago Atlantic REIT Manager, LLC, a subsidiary of Chicago Atlantic Group, LP, which has closed over $4.0 billion in credit facilities since inception, including $3.1 billion to cannabis operators. REFI's portfolio of 26 companies across multiple U.S. states generates a gross unlevered weighted average yield to maturity of 15.8%, with loans secured by real estate mortgages, stock pledges, and all-asset UCC-1 liens. The company benefits from limited competition due to traditional banks' reluctance to lend to cannabis businesses, enabling premium pricing and lender-favorable covenants. REFI has announced a pending merger with affiliated business development company Chicago Atlantic BDC, Inc. (NASDAQ: LIEN) that would create a combined portfolio exceeding $771 million focused on cannabis and other underserved middle-market lending opportunities. Updated
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Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) is a commercial mortgage REIT that originates and manages senior secured loans primarily to state-licensed cannabis operators in limited-license states across the United States.
The Wall Street consensus 12-month price target for REFI is $15.12.
