WEST PALM BEACH, Fla., July 15, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (Nasdaq: AFCG) (“Advanced Flower Capital” or “AFC”) today announced that it plans to report earnings for the quarter ended June 30, 2024 on Wednesday, August 7, 2024. Advanced Flower Capital will host a conference call at 10:00 am Eastern Time on Wednesday, August 7, 2024 to discuss its quarterly financial results. All interested parties are welcome to participate. The call will be available through a live audio webcast at the Investor ...

Industry Overview - The cannabis industry is currently experiencing a progressive phase with increasing support for reform and better regulations, leading to heightened investor interest [1] - Market volatility is significant in the cannabis sector, making it essential for investors to have a strategic plan and conduct thorough research [2] Key Companies Innovative Industrial Properties, Inc. (IIPR) - IIPR focuses on acquiring, owning, and managing specialized properties leased to state-licensed cannabis operators [4] - The company announced a second-quarter 2024 dividend of $1.90 per share, reflecting a 4.4% increase from the previous quarter's dividend of $1.82 per share, resulting in an annualized dividend of $7.60 per share [6][7] AFC Gamma, Inc. (AFCG) - AFC Gamma specializes in originating, structuring, underwriting, and investing in senior secured loans and commercial real estate loans for established cannabis companies [8] - The company confirmed the completion date for the spin-off of its commercial real estate portfolio into an independent publicly-traded REIT, Sunrise Realty Trust, Inc., with shareholders receiving one share of SUNS for every three shares of AFCG held as of July 8, 2024 [9] NewLake Capital Partners, Inc. (NLCP) - NLCP is an internally managed real estate investment trust that provides capital to state-licensed cannabis operators through sale-leaseback transactions and funding for build-to-suit projects [10] - The company announced an increase in its Q2 2024 common stock dividend to $0.43 per share, equivalent to an annualized dividend of $1.72 per share, payable on July 15, 2024 [10]

Record Date for Distribution of Sunrise Realty Trust to be July 8, 2024Distribution Date to be July 9, 2024 WEST PALM BEACH, Fla., July 08, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC Gamma") today reconfirms that the spin-off of its commercial real estate portfolio into an independent, publicly-traded REIT, Sunrise Realty Trust, Inc. ("SUNS"), will be completed on July 9, 2024. Shareholders of AFC Gamma common stock as of the close of business on July 8, 2024 (the "Record Date") will recei ...

Aerial_Views/E+ via Getty Images Real Estate Weekly Outlook U.S. equity markets were little changed this week while long-term benchmark interest rates surged as investors assessed the potential political and economic fallout from a disastrous debate performance by President Biden, setting the stage for a potentially volatile and unpredictable second half of 2024. Beneath the political drama, investors parsed corporate commentary and economic data that pointed towards a further slowdown in U.S. consumer spen ...

Core Viewpoint - AFC Gamma, Inc. is set to complete the spin-off of its commercial real estate portfolio into a new publicly-traded REIT, Sunrise Realty Trust, Inc., on July 9, 2024, with a special dividend declared for shareholders [1][2]. Group 1: Spin-Off Details - The spin-off will allow holders of AFC Gamma common stock as of July 8, 2024, to receive one share of SUNS common stock for every three shares of AFCG common stock held [2]. - The distribution of SUNS shares is expected to occur before the market opens on July 9, 2024, with SUNS trading on Nasdaq under the symbol "SUNS" [2]. - Fractional shares will not be issued; instead, cash will be provided for any fractional shares [2]. Group 2: Special Dividend - The Board of Directors declared a special dividend of $0.15 per share of AFC Gamma common stock, payable on July 15, 2024, to shareholders of record as of July 8, 2024 [2]. Group 3: Company Overview - AFC Gamma, Inc. is an institutional lender that focuses on loans secured by commercial real estate, targeting direct lending and bridge loan opportunities typically ranging from $10 million to $100 million [3]. - The company specializes in lending to state-law compliant cannabis operators and is based in West Palm Beach, Florida [3].

Record Date for Distribution of Sunrise Realty Trust to be July 8, 2024Distribution Date Expected to be July 9, 2024Board of Directors Declares $0.15 per Share Spin-Off Special Dividend WEST PALM BEACH, Fla., June 27, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that the previously announced spin-off of its commercial real estate portfolio is expected to be completed on July 9, 2024. The commercial real estate portfolio will spin-off into a new independent, publicly-t ...

Core Viewpoint - AFC Gamma, Inc. successfully exited its largest loan of $84.0 million, generating a 19.9% internal rate of return (IRR) over the loan's life [1][2]. Group 1: Loan Management - The loan was sold to a third party at par plus accrued, following the borrower's failure to make an interest payment [1]. - The exit from this loan reflects the company's proactive portfolio management strategy aimed at reducing exposure to underperforming credits [2]. Group 2: Company Strategy - The CEO emphasized the commitment to delivering value for shareholders and the intention to redeploy capital into deals with strong risk-adjusted returns [2]. - The company specializes in direct lending and bridge loan opportunities, particularly targeting state-law compliant cannabis operators [3].

WEST PALM BEACH, Fla., June 04, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that it has successfully exited its $84.0 million loan to Subsidiary of Public Company H. This was AFC Gamma’s largest loan in its portfolio and during our last earnings call, we noted that the borrower failed to make its April interest payment in May. Through active portfolio management, AFC Gamma is pleased to announce that it has sold the loan to a third-party at par plus accrued, which ge ...

Core Viewpoint - AFC Gamma, Inc. is preparing for the spin-off of its commercial real estate portfolio, which will result in the establishment of Sunrise Realty Trust, Inc. as a separate entity that will seek REIT status and trade on Nasdaq [1][2]. Group 1: Spin-Off Details - The spin-off is expected to be completed in mid-2024, at which point SUNS will operate independently [1]. - Jodi Hanson Bond and Jim Fagan will resign from the AFC Gamma Board and are anticipated to join the SUNS Board post-spin-off [1]. - Alexander Frank will remain on the AFC Gamma Board while also being appointed to the SUNS Board [1]. Group 2: Board Composition - Post spin-off, the AFC Gamma Board will include Leonard Tannenbaum as Executive Chairman and Chief Investment Officer, Thomas Harrison as Lead Independent Director, and Alexander Frank as Independent Chair of Audit & Valuation Committee [2]. - The SUNS Board will consist of Leonard Tannenbaum as Executive Chairman, Brian Sedrish as CEO, and Alexander Frank as Lead Independent Director [2]. Group 3: Company Profile - AFC Gamma, Inc. is a publicly-traded institutional lender focused on originating, structuring, and underwriting loans secured by commercial real estate, with loan sizes typically ranging from $10 million to $100 million [3]. - The company specializes in lending to state-law compliant cannabis operators and is based in West Palm Beach, Florida [3].

AFC Gamma, Inc. (NASDAQ:AFCG) Q1 2024 Results Conference Call May 9, 2024 10:00 AM ET Company Participants Gabriel Katz - Chief Legal Officer Daniel Neville - Chief Executive Officer Robyn Tannenbaum - President Brandon Hetzel - Chief Financial Officer Operator Good morning, and welcome to AFC Gamma's First Quarter 2024 Earnings Call [Operator Instructions]. As a reminder, this call is being recorded. I would now like to turn the call over to Gabriel Katz, Chief Legal Officer. Please go ahead. Gabriel Katz ...