AFC Gamma Inc., a commercial mortgage REIT, has completed a first close of its $200 million investment vehicle, having raised approximately $80 million of equity from more than 20 large family offices. Additionally, AFC Gamma has a credit line of up to $40 million, providing the REIT with approximately $120 million of capacity to lend to cannabis operators.
Jonathan Kalikow, head of AFC Gamma Real Estate, added, “Advanced Flower is unique in its combination of cash-flow underwriting, leveraging [CEO] Len’s [Tannenbaum] quarter-century of expertise in this area, and my significant real estate lending experience. The combination of quality real estate and regular cash flow provides additional safety and security for our investors in this high-growth industry.”
With companies in the industry continuing to face challenges accessing capital, AFC Gamma was founded to fill a void in the market by providing funding that these companies need to expand and operate their
