The latest announcement is out from Chicago Atlantic Real Estate ate Finance Inc ( (REFI) ).
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Chicago Atlantic Real Estate Finance, Inc., a commercial mortgage REIT, reported strong third-quarter 2024 results, highlighting a well-managed portfolio with improved credit quality and loan coverage. The company, focusing on state-licensed cannabis operators, had $362.3 million in outstanding loans with an 18.3% yield to maturity. Chicago Atlantic increased its credit facility to $110 million and entered a $50 million unsecured term loan to enhance liquidity. The firm posted net income of $11.2 million, reflecting a 21.7% increase per share, and affirmed its positive outlook for the remainder of 2024.
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