Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI), a commercial real estate finance company that manages a diversified portfolio of real estate credit investments in the cannabis space, announced on January 3 that it acted as sole lender on a new senior secured credit facility for MEDfarms LLC, a vertically integrated operator in Michigan.
Based in Central Michigan, MEDfarms has four retail dispensaries, two cultivation facilities and two production facilities, making it among the more established vertically integrated players in Michigan.
The MEDfarms family of companies operate under the names “Hashish Boys”, “Fire Creek” and “Dispo.”
MEDfarms specializes in creating and distributing innovative brands and products. MEDfarms award-winning brands include “HYMAN,” “Chill Medicated,” and “Covert Cups,” among many more, which MEDfarms distributes through its network to hundreds of dispensaries across the State.
“We are extremely excited to support Brandon and MEDfarms, provide accretive capital to strengthen MEDfarms’ balance sheet and increase the company’s market share in Michigan. MEDfarms has proven itself as a best-in-class operator in Michigan, with superior branding, best-in-class cultivation, and dispensaries that have a loyal following in a competitive market,” said Tom Miles, VP at Chicago Atlantic.
“MEDfarms has a strong management team, brand, and operations and this capital will support the company’s continued growth and expansion in Michigan,” Miles added.
Brandon Dabish, founder of MEDfarms said, “We are very excited to continue our strategic growth plan into 2022 with Chicago Atlantic as our financial partner. With Chicago Atlantic’s assistance, MEDfarms will be able to open more locations, release new products, establish new vendor and customer relationships, and expand our footprint into other states. Obtaining key lending relationships in the cannabis industry can be very difficult, that is why we are so excited to establish this new partnership with Chicago Atlantic by our side.”
Photo by Tierra Mallorca on Unsplash