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Cannabis REIT has $120M in capital to lend to operators

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

, including dispensaries, cultivators, processors, and combined operations. It has committed to lending another $30 million to existing borrowers and to two new borrowers, according to the release.

Traditional financing is notoriously difficult to get for cannabis companies, experts say.

To Read The Rest Of This Article By Katherine Kallergis on The Real Deal – Miami

Published: August 19, 2020

The post Cannabis REIT has $120M in capital to lend to operators appeared first on L.A. Cannabis News.

Source: Cannabis REIT has 0M in capital to lend to operators


About the author

Marzena Bonar

Marzena Bonar

Marzena's passion for writing impressed all of us and now she dedicates her time for writing beautiful researched articles related to the hemp industry around the globe.

Marzena gratuated the University of Economics in Katowice.

She can be reached out at: Marzena.Bonar@hempstashnews.com

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