Chicago Atlantic Secures BBB+ Rating And $50M Loan To Enhance Liquidity In Cannabis Lending
Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI), a leading commercial mortgage real estate investment trust (REIT), has announced the closure of a $50 million unsecured term loan with two institutional private lending platforms. This funding aims to support the company’s future investments and various general corporate purposes.
The unsecured term loan, which matures in October 2028, features a fixed cash interest rate of 9.0% and is interest-only. The company retains the option to prepay the loan partially or in full, subject to applicable prepayment penalties. The full loan amount was drawn at closing to repay existing borrowings on Chicago Atlantic’s $110 million senior secured revolving credit facility, as well as …