Marijuana-sector real estate lender AFC Gamma is splitting off its non-cannabis commercial real estate business into a separate company.
The new publicly traded company, which will be called Sunrise Realty Trust, intends to operate as a real estate investment trust (REIT), West Palm Beach, Florida-based AFC Gamma said in a late Thursday news release.
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According to a company statement, the spinoff “will result in two pure-play debt capital providers – one focused solely on the cannabis industry and a second on (commercial real estate) in the southern United States.
“AFC Gamma believes that the separation will allow both companies to focus on their respective portfolios, articulate their own clear investment thesis, and have the flexibility to tailor their business strategies to best
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