Advanced Flower Capital Business Summary

AFC Gamma, Inc. (AFCG) operates as a specialized commercial real estate finance company structured as a Real Estate Investment Trust (REIT) that provides customized financing solutions to the cannabis industry. The company generates revenue primarily through interest income and origination fees derived from a portfolio of senior secured loans, which are typically collateralized by real estate, equipment, and licenses. AFCG focuses on the entire cannabis value chain, including cultivation, processing, and retail operations, primarily in states with limited-license environments. Following the 2024 spin-off of its non-cannabis commercial real estate business into Sunrise Realty Trust, AFCG has sharpened its focus exclusively on the cannabis sector. Key competitors include Innovative Industrial Properties (IIPR), Chicago Atlantic Real Estate Finance (REFI), and Silver Spike Investment Corp (SSIC). AFCG distinguishes itself as a direct lender offering flexible, high-yield debt capital in a capital-constrained market, positioning itself as a primary institutional credit provider compared to the equity-heavy or sale-leaseback models of its peers. The company was founded by Leonard M. Tannenbaum, a veteran in the credit markets who previously founded Fifth Street Asset Management. As of 2026, the leadership team is headed by Chief Executive Officer Daniel Coniglio, who previously served as the company’s CFO and played a pivotal role in the firm’s 2021 IPO and subsequent strategic restructuring. Supporting him is Robyn Tannenbaum, who serves as President and has extensive experience in healthcare and specialty finance investment banking. The executive team is complemented by Chief Financial Officer Brandon Beavis, who oversees the firm’s rigorous underwriting and portfolio management. The board of directors includes notable figures such as Alexander Casotto and Thomas Harrison, bringing deep expertise in institutional finance and regulatory compliance. AFCG’s institutional pedigree is reinforced by its history of attracting capital from sophisticated credit investors seeking exposure to the high-growth cannabis sector through a disciplined, asset-backed lending framework.