AFC Gamma, Inc. Common Stock Ex-distribution When-Issued
AFCGV
NASDAQ8.20
USD
+8.20
- -
Return %
Stock
S&P500
1Y
- -
26.53
3Y
- -
76.60
5Y
- -
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Daniel Neville
- Address
- 525 Okeechobee Boulevard West Palm Beach FL United States of America 33401
- Website
- afcgamma.com
- Similar Companies
- Not found
- Business
- AFC Gamma, Inc. is a commercial real estate finance company specializing in originating, structuring, underwriting, investing in, and managing senior secured loans and other forms of credit facilities primarily for licensed cannabis operators across multiple U.S. states. The company provides specialized commercial real estate financing and secured debt capital solutions to cannabis cultivators, processors, and dispensaries, with loan structures typically secured by real estate assets, licenses, or other collateral. AFC Gamma's product offerings include senior secured loans, real estate financing for cannabis businesses, and investment management services focused on cannabis-related real estate. Founded in July 2020 and headquartered in West Palm Beach, Florida, AFC Gamma operates in key regulated cannabis markets including Florida, California, Arizona, Massachusetts, and several others. In 2024, AFC Gamma completed a strategic repositioning by spinning off its commercial real estate portfolio to become a pure-play cannabis lender, significantly sharpening its business focus on the cannabis industry. This spin-off, completed in July 2024 with the commercial real estate portfolio transferred to Sunrise Realty Trust Inc., allowed AFC Gamma to streamline operations and enhance its capital allocation strategy. The company has also raised additional funding and expanded its revolving credit facilities with FDIC-insured banking partners to support its growth initiatives. AFC Gamma targets a loan portfolio with an average yield of approximately 13.5%, maintains a disciplined underwriting approach with a non-performing loan ratio around 3.2%, and aims for annual portfolio growth of 15-20%. It continues to actively manage and grow its loan origination pipeline, aiming to meet or exceed a $100 million origination goal in 2024. As of late 2024 and early 2025, AFC Gamma holds a diversified loan portfolio valued at approximately $555 million, primarily invested in medical cannabis-related properties. The company focuses on providing flexible financing solutions ranging from $5 million to $50 million tailored to borrower needs in states with strong regulatory frameworks. AFC Gamma's latest developments include expanding lending operations into new medical and adult-use cannabis markets, improving asset quality through aggressive portfolio management, and maintaining a sustainable dividend policy for shareholders. AFC Gamma continues to trade on Nasdaq under the ticker AFCG and aims to complete its conversion to a 1940 Act-compliant business development company by early 2026, a move expected to align its leverage and operational framework with industry standards for such entities. Overall, AFC Gamma serves institutional investors and cannabis operators by offering essential financial infrastructure to support the growth of the legal cannabis industry, with a clear strategic focus on secured lending and real estate financing within this niche market. Its geographical reach across multiple U.S. states and its specialized expertise position it as a leading credit provider within the cannabis financial services sector. The company is led by an experienced management team with deep expertise in finance, real estate, and the cannabis industry. This description integrates AFC Gamma's core products and services, geographic scope, founding details, and the latest major strategic and financial changes through mid-2025. The company has pivoted fully to cannabis-focused lending while executing portfolio spin-offs, credit facility expansions, and a transition to a business development company structure. This all reflects AFC Gamma's commitment to specializing in cannabis market financing and enhancing shareholder value through disciplined growth and capital management strategies.