Chicago Atlantic Real Estate Finance, Inc. Announces Second-Lien Financing of Thirty-Two Cannabis Retail Properties
Chicago Atlantic Real Estate Finance, Inc. completed a $62.5 million second-lien financing transaction secured by 32 cannabis retail properties managed by Koach Properties Manager LLC. The notes carry a 10.0% cash interest rate plus an additional 2.0% PIK interest rate, with a weighted average maturity of approximately 12 years and an exit fee of 2.5 times the commitment amount.
Key figures
- Deal Value Usd
- 62500000
- Offering Price
- 14.53
- Shares Offered
- 4306754
- Exit fee multiple
- 2.5x
- Pik interest rate
- 2.0%
- Cash interest rate
- 10.0%
- Weighted avg maturity years
- 12
AI analysis
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