Acreage Holdings obtains $100 million credit facility

By Wendy Van Sickle

Columbus, Ohio, Dec. 16 – Acreage Holdings, Inc. obtained a $100 million senior secured credit facility from AFC Gamma, Inc. and Viridescent Realty Trust, Inc., according to a news release from AFC Gamma.

Proceeds are planned to be used to repay existing debt, to fund expansion initiatives and to provide additional working capital.

The facility is secured by first-lien mortgages on Acreage’s owned real estate and other commercial security interests.

There is a committed accordion option for a further $50 million that is available if certain milestones are achieved.

AFC Agent LLC is administrative agent.

Based in New York City, Acreage Holdings is a multi-state operator of cannabis ‎cultivation and retailing facilities in the United States, including its national retail store ‎brand, The Botanist.

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