They likely won't get that 4.2% rate again. Leonite also received $700K in class "A" preferred shares in exchange for debt in Cranberry Cove which holds the Canadian property in 2020. This will add to the difficulty for refinancing. The talked about purchasing the ARIA property in the Q3 2021 press release using some scheme called a 'off balance sheet structure' which hasn't materialized. They also said that they planned to apply this same structure to refinance the Canadian property.
The Company has also made the decision to move forward with the purchase of the property at 950 Evernia Street, West Palm Beach, Florida. The purchase will be an off-balance sheet structure whereby the Company will be the General Partner in a limited partnership which will use debt and equity from Limited partners as the structure to own the property. .
...Ethema also plans to implement the same structure for its Canadian property which will also improve the Balance sheet...
Everything that I post is just my informed opinion and is simply an invitation to debate. Trade on your own due diligence please..