---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-037448"
form_type: "8-K"
ticker: "REFI"
cik: "0001867949"
company_name: "Chicago Atlantic Real Estate Finance, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T10:21:26.759279+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# REIT Q1 net income $10.7M ($0.60/dil sh), up 46% qoq; distributable earnings $11.1M ($0.62/sh)

## Summary
- Net interest income $14.9M, up 1% sequentially; total expenses $4.1M, down 18%.
- Portfolio yield 19.4%; floating-rate loans rose to 88%; loan-to-value 41%.
- Gross originations $34.1M, repayments $59.2M; net share issuance raised $6M at $15.16.
- Book value per share $15.04 vs $14.86; dividend $0.47 paid April 14.
- Credit facility extended to Dec 2024; liquidity $52.6M; leverage ratio ~14%.

## SEC filing metadata
- accession: 0001213900-23-037448
- form_type: 8-K
- ticker: REFI
- cik: 0001867949
- company_name: Chicago Atlantic Real Estate Finance, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1867949/000121390023037448/0001213900-23-037448-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1867949/000121390023037448/ea178166-8k_chicago.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-037448
- JSON: https://secwatch.observer/filing/0001213900-23-037448.json
- Plain text: https://secwatch.observer/filing/0001213900-23-037448.txt

## Key facts
- Earnings Releases
  Chicago Atlantic Real Estate Finance, Inc. reported first quarter ended March 31, 2023 results: net income Net Income of approximately $10.7 million, or $0.60 per weighted average diluted common share, EPS $0.60 per weighted average diluted common share.
  - Period: first quarter ended March 31, 2023
  - Net income: Net Income of approximately $10.7 million, or $0.60 per weighted average diluted common share
  - EPS: $0.60 per weighted average diluted common share
  - Result: reported results
  source text: Chicago Atlantic Real Estate Finance Announces First Quarter 2023 Financial Results
  evidence_url: https://www.sec.gov/Archives/edgar/data/1867949/000121390023037448/0001213900-23-037448-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.