Cannabis REIT AFC Gamma: Record $127.3M In Gross Originations In Q4, $341.3M On Total Commitments

Start generating passive income through real estate.

Own a piece of your favorite cities through diversified real estate investments in the country's top markets

*Terms and conditions apply. Visit Nada's website for more details.

Cannabis real estate investment trust AFC Gamma, Inc. AFCG revealed Monday that the company’s gross funding for the quarter ended Dec. 31, 2021, totaled $125.6 million.

Based in West Palm Beach, Florida, its net funding, taking into account loan repayments and amortization, was $120.6 million.

Furthermore, in total, AFC Gamma closed on total new commitments of $127.3 million during the quarter.

For the full year, AFC Gamma’s gross funding amounted to $302.5 million, while its net funding, taking into account loan repayments and amortization, was $275.5 million.

In addition, the company closed on total new commitments of $341.3 million during the twelve months ended Dec. 31, 2021.

On Oct. 29, AFC Gamma priced an offering of $100 million aggregate principal amount of 5.750% senior notes due 2027 to qualified institutional buyers. The notes mature on May 1, 2027, and their interest is payable semi-annually, with the first payment on May 1, 2022. The offering was closed during the quarter.

The company also revealed that its management has established the AFC Foundation, a nonprofit organization that will collaborate with its borrowers to give back and support communities in the states in which they operate.

More recent news from AFC Gamma:

AFCG Price Action

AFC Gamma’s shares traded 0.31% lower at $22.69 per share at the time of writing on Monday.

Photo: Courtesy of Josh Appel on Unsplash

Market News and Data brought to you by Benzinga APIs
Posted In: CannabisNewsFinancingOfferingsSmall CapMarketsReal Estate
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Benzinga Cannabis Capital Conference is coming to Florida

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.

Get your tickets now on – Prices will increase very soon!