Welcome to our dedicated page for Chicago Atlantic Real Estate Finance news (Ticker: REFI), a resource for investors and traders seeking the latest updates and insights on Chicago Atlantic Real Estate Finance stock.
Chicago Atlantic Real Estate Finance, Inc. (REFI) provides strategic financing solutions in commercial real estate, focusing on risk-adjusted returns through curated investments. This news hub offers investors and analysts a centralized source for tracking the company's latest developments and financial decisions.
Access timely updates including earnings reports, portfolio acquisitions, and strategic partnerships that demonstrate REFI's approach to balancing income generation with capital preservation. Our repository also covers regulatory filings and operational milestones essential for understanding the company's market position.
All content is curated to help stakeholders monitor REFI's performance in commercial mortgage lending and asset management. Bookmark this page for direct access to press releases and analysis of how the company navigates evolving real estate markets while maintaining dividend consistency.
Chicago Atlantic Real Estate Finance (NASDAQ: REFI) has released its Q4 and full-year 2024 financial results. The company reported Q4 net income of $7.9 million ($0.39 per diluted share), down 30.1% sequentially. The loan portfolio reached $410.2 million across 30 companies, with a weighted average yield of 17.2%.
Key Q4 highlights include $90.7 million in gross originations and a new $50 million unsecured term loan at 9.0% interest. The company maintained a quarterly dividend of $0.47 per share plus a special dividend of $0.18 per share. For full-year 2024, net income was $37.0 million ($1.88 per diluted share), with total dividends of $2.06 per share.
The company's portfolio shows 62.1% variable-rate loans, with only one loan on non-accrual status. Book value per share slightly decreased to $14.83, and the company maintains a pipeline of nearly $500 million in potential deals.
Chicago Atlantic Real Estate Finance (NASDAQ: REFI) has announced its schedule for the release of fourth quarter and full-year 2024 financial results. The company will release its earnings report and supplemental financial information before market opening on Wednesday, March 12, 2025.
A conference call and live audio webcast will be held the same day at 9:00 a.m. Eastern Time. Interested parties can join the interactive teleconference by dialing (833) 630-1956 for domestic calls or (412) 317-1837 for international calls. The webcast will be accessible through the Investor Relations section of the company's website at www.refi.reit, with a replay available approximately one hour after the call ends and archived for one year.
Chicago Atlantic Real Estate Finance (NASDAQ: REFI) has announced two dividend distributions: a regular quarterly cash dividend of $0.47 per common share for Q4 2024, and a special dividend of $0.18 per common share. The regular dividend represents an annualized rate of $1.88 per share. Both dividends will be paid on January 13, 2025, to shareholders of record as of December 31, 2024. The special dividend is required to maintain REIT compliance with U.S. federal income tax rules and was calculated based on estimated 2024 performance.
Chicago Atlantic and Lineage Merchant Partners announced merger agreements between Vireo Growth and three single-state cannabis operators: Proper Cannabis (Missouri), Deep Roots Harvest (Nevada), and WholesomeCo Cannabis (Utah). The company also signed an MOU to acquire The Flowery (Florida).
The combined entity will operate across seven states, managing 1,043,500 square feet of cultivation and manufacturing space, and 48 retail dispensaries. The deals are collectively valued at approximately $397 million, supported by a $75 million equity offering at $0.625 per share.
John Mazarakis, Chicago Atlantic's co-founder, has been appointed CEO and Co-Executive Chairman of Vireo, bringing experience from overseeing $2 billion in cannabis-related investments and leading the public listing of a cannabis-focused mortgage REIT (NASDAQ: REFI).
Chicago Atlantic Real Estate Finance (NASDAQ: REFI) reported its Q3 2024 financial results with net income of $11.2 million, or $0.56 per diluted share, up 21.7% sequentially. The portfolio includes $362.3 million in total loan principal across 29 companies, with a weighted average yield of 18.3%. The company had total gross originations of $32.7 million in Q3. Notable developments include securing a $50 million unsecured term loan at 9% interest and receiving a BBB+ investment grade rating. The company maintains strong liquidity with approximately $80 million available and affirmed its 2024 outlook.
Chicago Atlantic Real Estate Finance (NASDAQ: REFI) has secured a $50 million unsecured term loan from institutional private lending platforms. The loan, maturing in October 2028, carries a fixed 9.0% interest rate and is interest-only. The funds were used to repay existing borrowings on the company's $110 million senior secured revolving credit facility and for working capital. Egan-Jones has assigned a BBB+ rating to both the company and the senior unsecured term loan, reflecting investment grade status.
Chicago Atlantic Real Estate Finance (NASDAQ: REFI) has announced the schedule for its third quarter 2024 earnings release and conference call. The company, a commercial mortgage real estate investment trust, plans to release its earnings and supplemental financial information before the market opens on Thursday, November 7, 2024.
A conference call and live audio webcast will be held the same day at 9:00 a.m. Eastern Time. Interested parties can join the interactive teleconference by calling (833) 630-1956 (international callers: 412-317-1837). The live audio webcast will be available in the Investor Relations section of the company's website at www.refi.reit. An online replay will be accessible approximately one hour after the call ends and will be archived for one year.
Chicago Atlantic announced that Silver Spike Investment Corp. (SSIC) has acquired a loan portfolio from Chicago Atlantic Loan Portfolio, (CALP) in exchange for newly issued shares. As a result, CALP and legacy SSIC stockholders now own 72.8% and 27.2% of the company's common stock, respectively. The company has been renamed Chicago Atlantic BDC, Inc., with its ticker symbol changing to "LIEN" effective October 2, 2024.
Additionally, Chicago Atlantic and Silver Spike Capital have formed a joint venture to combine their investment management businesses in the cannabis industry. The company now has net assets of approximately $300 million and investments in 28 portfolio companies. Key management changes include Andreas Bodmeier becoming CEO and Dino Colonna assuming the role of President.
The transactions aim to capitalize on opportunities in private markets, particularly in the rapidly growing cannabis sector, by providing debt capital to lower middle market companies.
Chicago Atlantic Real Estate Finance (NASDAQ: REFI) has declared a regular quarterly cash dividend of $0.47 per share for the third quarter of 2024. This dividend equates to an annualized rate of $1.88 per common share. The payment is scheduled for October 15, 2024, to shareholders of record as of the close of business on September 30, 2024. Chicago Atlantic Real Estate Finance is a commercial mortgage real estate investment trust (REIT) that provides consistent returns to its shareholders through regular dividend payments.
Chicago Atlantic Real Estate Finance (NASDAQ: REFI) reported its Q2 2024 financial results. The company saw total loan principal outstanding of $383.3 million across 31 portfolio investments. Weighted average yield to maturity decreased to 18.7% from 19.4% in Q1 2024. The company had total gross originations of $20.9 million in Q2. Chicago Atlantic increased its secured revolving credit facility to $105.0 million and issued shares through its ATM program, raising net proceeds of $6.3 million.
Financial highlights include:
- Net interest income of $13.2 million
- Net Income of $9.2 million, or $0.46 per diluted share
- Distributable Earnings of $9.8 million, or $0.50 per diluted share
- Book value per share of $14.92 as of June 30, 2024
The company affirmed its 2024 outlook previously issued on March 12, 2024.
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