Cannabis-Focused Commercial Mortgage REIT Exceeds $100M In New Originations With $41M Credit Facility For Maryland Marijuana Operator
Portfolio Pulse from Jelena Martinovic
AFC Gamma, Inc. (NASDAQ:AFCG) has exceeded its 2024 goal of $100 million in new originations by committing $41 million to a credit facility for Story of Maryland, LLC, a cannabis operator. This move strengthens Story's balance sheet and supports its growth initiatives.
October 07, 2024 | 6:14 pm
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AFC Gamma has committed $41 million to a credit facility for Story of Maryland, LLC, surpassing its 2024 goal of $100 million in new originations. This move highlights AFC's role in supporting cannabis operators and may positively impact its financial performance.
AFC Gamma's commitment to a $41M credit facility for Story MD indicates strong financial activity and support for cannabis operators, which could enhance its revenue and market position. The surpassing of its 2024 origination goal suggests robust business growth, likely leading to a positive short-term impact on its stock price.
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