Chicago Atlantic Real Estate Finance, Inc. REFI

Company Overview

Chicago Atlantic Real Estate Finance, Inc. (“REFI”) is a commercial mortgage real estate investment trust (REIT) focused primarily on originating, structuring, and investing in senior secured loans for state-licensed cannabis operators and related real estate businesses in the United States. The company operates within the specialty finance, commercial real estate lending, and cannabis financial services sectors. REFI’s core revenue driver is interest income generated from commercial loans, including first mortgage loans, bridge financing, construction loans, and other structured credit investments. The company has emphasized lending to operators in limited-license cannabis markets, where regulatory barriers can constrain competition and support borrower cash flows.

REFI was formed in 2021 and is externally managed by Chicago Atlantic REIT Manager, LLC, an affiliate of the broader Chicago Atlantic platform. The company completed its public listing on the Nasdaq under the ticker “REFI” in December 2021. Its strategy has centered on disciplined underwriting, asset-backed lending, and targeting sectors underserved by traditional banks due to federal cannabis restrictions in the United States. Public filings and investor materials describe REFI’s positioning as a specialty lender focused on generating risk-adjusted returns through secured lending structures and conservative loan-to-value metrics.