AFC Gamma, a leading institutional lender, is making waves in the commercial real estate market with its upcoming spin-off of its portfolio into a new REIT called Sunrise Realty Trust. This move, set to be completed on July 9th, 2024, marks a significant development for the company and its stakeholders.
Shareholders of AFC Gamma can look forward to receiving one share of SUNS common stock for every three shares of AFC Gamma stock they hold as of the Record Date on July 8th, 2024. While the distribution is expected to occur before trading begins on July 9th, regular trading of SUNS shares on the Nasdaq Capital Market will commence on July 10th.
AFC Gamma’s specialization in lending to state-law compliant cannabis operators sets it apart in the industry, making this spin-off an intriguing move in the real estate and financial sectors. With forward-looking statements indicating a positive outlook for the company, investors and observers will undoubtedly be keeping a close eye on how this development unfolds.
This bold step by AFC Gamma emphasizes the dynamic nature of the real estate market and showcases the company’s commitment to innovation and growth. As industry trends continue to evolve, AFC Gamma’s strategic moves like the spin-off of its portfolio demonstrate a forward-thinking approach that positions the company for success in a rapidly changing landscape.
