Chicago Atlantic extends revolver to 2026, expands accordion

By Marisa Wong

Los Angeles, Feb. 29 – Chicago Atlantic Real Estate Finance, Inc. announced that wholly owned financing subsidiary Chicago Atlantic Lincoln, LLC entered into a fifth amended and restated loan and security agreement with a syndicate of FDIC-insured financial institutions to extend the maturity of its $100 million secured revolving credit facility and increase the accordion feature of the revolver to facilitate additional commitments up to $150 million.

The real estate investment trust extended the contractual maturity date to June 30, 2026 from Dec. 16, 2024 and retained the one-year extension option, according to a press release.

The revolving loan bears interest at the Prime rate, subject to a 3.25% floor, plus an applicable margin based on the company’s leverage ratio. The applicable margin ranges from 0 basis points to 125 bps.

Executive chairman John Mazarakis noted in the release, “Our lending group has been very supportive, and we are pleased to extend the debt maturity to June 2026 as well as increase the accordion feature. We will continue our efforts to expand the size of this facility and broaden the lending group.”

Chicago Atlantic is a Chicago-based commercial mortgage REIT that originates senior secured loans primarily to state-licensed cannabis operators.

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