: Chicago Atlantic commits $150 mln for New York State Cannabis Social Equity Investment Fund

Chicago Atlantic Real Estate Finance Inc. REFI said Friday it would provide up to $150 million in capital for the New York State Cannabis Social Equity Investment Fund. The money will be combined with $50 million from state cannabis tax revenue to secure, lease, design and construct cannabis dispensaries that have been licensed under the state’s conditional adult-use cannabis dispensary or CAURD program. A subsidiary of the Dormitory Authority of the State of New York (DASNY) called the Social Equity Servicing Corp. is executing the work to develop dispensaries as an agent of the Cannabis Social Equity Investment Fund. Chicago Atlantic is a mortgage real estate investment trust that originates senior secured loans, mostly to state-licensed cannabis operators. Chicago Atlantic stock is down 0.1% on Monday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.