Chicago Atlantic Real Estate Finance Closes on $50 Million Unsecured Term Loan to Fund Deployment of New Investments
Chicago Atlantic Real Estate Finance, Inc. (REFI)
Company Research
Source: GlobeNewswire
CHICAGO, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) (“Chicago Atlantic” or the “Company”), a commercial mortgage real estate investment trust, today announced that the Company entered into a $50.0 million unsecured term loan from two institutional private lending platforms to fund the Company’s future investments and other general corporate purposes. The unsecured term loan matures in October 2028, is interest only and bears a fixed cash interest rate of 9.0%. The Company can prepay the term loan in whole or in part at any time and from time to time subject to applicable prepayment penalties. The full balance of the loan was drawn at closing and was used to repay current outstanding borrowings on the Company’s $110.0 million senior secured revolving credit facility and for other working capital purposes. The Company also announced that Egan-Jones has assigned a rating of BBB+ to both the Company and the senior unsecured term loan.
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- Chicago Atlantic Real Estate Finance Schedules Third Quarter 2024 Earnings Release and Conference Call DateGlobeNewswire
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- Chicago Atlantic Real Estate Finance Declares Common Stock Dividend of $0.47 for the Third Quarter of 2024GlobeNewswire
REFI
Earnings
- 8/7/24 - Miss
REFI
Sec Filings
- 10/23/24 - Form 8-K
- 8/7/24 - Form 8-K
- 8/7/24 - Form 10-Q
- REFI's page on the SEC website