Chicago Atlantic Real Estate Finance, Inc. (REFI) 2023年年度报告「NASDAQ」.pdf

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1、2023 Annual ReportPrudent.Disciplined.Diversified.CHICAGO ATLANTIC REAL ESTATE FINANCE,INC.|2023 ANNUAL REPORTLegalized recreational and medical useLegalized medical use onlyNo regulated use(1)As of December 31,2023(2)As of March 1,2024,includes potential syndications(3)Per MJBiz Daily,as of Novembe

2、r 2023 Continued state-level legalization,including transition from medical to adult-use cannabis.Adult-use sales began during the first quarter of 2023 in Missouri and Connecticut.Adult use cannabis sales began in Maryland on July 1,2023.Adult-use sales expected to commence in Ohio in 2024.Current

3、Legalization(3)40 statesLegislative tailwinds Chicago Atlantic Real Estate Finance,Inc.(NASDAQ:REFI)is a market-leading mortgage REIT utilizing significant real estate,credit,and cannabis expertise to originate senior secured loans primarily to state-licensed cannabis operators in limited-license st

4、ates in the United States.$2.0B+in loans closed since platform inception(2)70+cannabis loans closed across platform(2)$620mmnear-term pipeline under evaluation(2)$379mmcurrent commitments with substantial pipeline(1)1.5xreal estate collateral coverage in current portfolio(1)19.4%gross portfolio yiel

5、d(1)INVESTMENT HIGHLIGHTSPioneer in cannabis lending with first-mover advantageProprietary and extensive deal sourcing capabilitiesDifferentiated investment approach Compelling opportunity in rapidly growing cannabis market Lender of choice to leading cannabis operatorsCHICAGOATLANTICREAL ESTATE FIN

6、ANCEWe delivered a sector-leading total return of approximately 22%while keeping leverage well below sector averages.We would like to thank our investors and the Chicago Atlantic team for their contributions and support.We started the year in an environment characterized by significant volatility wi