10:32 AM EDT, 10/23/2024 (MT Newswires) -- Chicago Atlantic Real Estate Finance ( REFI ) said Wednesday that it secured a $50 million unsecured term loan from two institutional private lending platforms.

The loan matures in October 2028 with a fixed cash interest rate of 9%, according to the company.

The company said the loan's full balance was drawn at closing and was used to repay outstanding borrowings on its $110 million senior secured revolving credit facility and for general working capital.

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