“We are pleased to have originated a total of $90.4M of loans in the first quarter of 2024, with $34.0M in loans to cannabis operators and $56.4M to commercial real estate developers. On the cannabis side, we completed a $34.0M debt investment in Sunburn Cannabis, a private, vertically integrated single-state Florida operator,” said CEO Daniel Neville. “The investment underscores our commitment to fostering long-lasting relationships with our borrowers and focusing on limited license states with attractive supply and demand dynamics. Additionally, we are encouraged by the promising legislative developments at both the federal and state level, including the anticipated rescheduling at the federal level and the potential transition to adult-use cannabis in states like Ohio and Florida.”
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