West Palm Beach-based REIT has so far provided $50M in financing to five borrowers
AFC Gamma, a West Palm Beach-based real estate investment trust, now has $120 million in capital on hand to lend to cannabis operators.
AFC Gamma, which stands for Advanced Flower Capital, announced it raised $80 million of equity from 20 family offices, completing the first round of its $200 million investment vehicle, according to a press release. The commercial mortgage REIT also has a credit line of up to $40 million, freeing up a total of $120 million in capital.
The company has so far provided $50 million in financing to five marijuana businesses
Traditional financing is notoriously difficult to get for cannabis companies, experts say.
Published: August 19, 2020
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