AFC Gamma, Inc. Announces Changes to Board Composition
May 20, 2024
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AFC Gamma, Inc. announced the anticipated composition of the Boards of Directors for each of AFC Gamma and Sunrise Realty Trust, Inc. (SUNS) following the spin-off of AFC Gammas commercial real estate portfolio, which is currently held in its wholly-owned subsidiary, SUNS (the Spin-Off). The Spin-Off is expected to be completed in mid-2024, at which time SUNS will operate as a separate company that intends to elect REIT status and trade on the Nasdaq exchange. Jodi Hanson Bond and Jim Fagan have resigned from the AFC Gamma Board of Directors, effective upon completion of the Spin-Off.
AFC Gamma, Inc. is an institutional lender to the commercial real estate sector. The Company primarily originates, structures, underwrites, invests in and manages senior secured loans and other types of commercial real estate loans and debt securities, with a specialization in loans to cannabis industry operators in states that have legalized medical and/or adult-use cannabis. The Companyâs objective is to provide attractive risk-adjusted returns over time through cash distributions and capital appreciation primarily by providing loans to real estate developers and state-law compliant cannabis companies. The loans it originates are primarily structured as senior loans secured by real estate, equipment, value associated with licenses (where applicable) and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties. The Company targets investing strategically across multiple real estate sectors.
AFC GAMMA, INC. 
