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NewLake Capital Partners, Inc. (NLCP) is a premier provider of real estate capital to state-licensed cannabis operators. Led by CEO Anthony Coniglio, NewLake focuses on quality properties in limited licensed states, emphasizing strong property-level cash flows. The company recently expanded its partnership with C3 Industries, supporting the growth of their vertically integrated cannabis operations in Connecticut. Founded in 2018, C3 Industries, led by founders Ankur and Vishal Rungta, is known for its premium cannabis brands like Cloud Cover, Galactic, and Habitat, operating in multiple states. NewLake's commitment to quality, innovation, and economic development underscores its position as a key player in the cannabis real estate sector.
NewLake Capital Partners, Inc. (OTCQX: NLCP) announced a cash dividend of $0.33 per share for Q1 2022, marking the fourth consecutive increase. This equates to an annualized dividend of $1.32 per share. The dividends will be payable on April 14, 2022 to stockholders recorded by March 31, 2022. NewLake provides capital for state-licensed cannabis operators through sale-leaseback transactions and owns 28 cultivation facilities and dispensaries on a triple-net lease basis.
NewLake Capital Partners (NLCP) plans to host a conference call on March 17, 2022, to discuss its fourth quarter and full year 2021 financial results. The call will occur at 8:30 a.m. ET, with a live dial-in option available. Investors can also access a replay until March 31, 2022. NewLake is a REIT providing capital to state-licensed cannabis operators, owning a portfolio of 28 properties leased on a triple-net basis. Further details can be found on their website.
NewLake Capital Partners announces participation in the 2022 KCSA Cannabis Virtual Investor Conference on January 19-20. Anthony Coniglio, President and Chief Investment Officer, will present live on January 20 from 3:00 PM to 3:30 PM ET. The event will allow real-time interaction with investors, and an archived webcast will be available post-event. NewLake specializes in providing real estate capital to state-licensed cannabis operators, owning 27 facilities leased on a triple-net basis. Interested parties can register for the event through a provided link.
NewLake Capital Partners (OTCQX: NLCP) has acquired a 70,000-square-foot industrial property in Chaffee, Missouri, for $21.1 million, which includes a $5.1 million commitment for tenant improvements. The facility will be leased to Organic Remedies, a cannabis operator, as a cultivation and processing center. This acquisition marks NewLake's entry into Missouri, expanding its real estate portfolio to 11 states. CEO David Weinstein expressed optimism about the partnership and the growth potential in the state.
NewLake Capital Partners (NLCP) announced a fourth quarter 2021 cash dividend of $0.31 per share, marking a 29% increase from the previous quarter's annualized dividend of $0.96. The annualized dividend now totals $1.24 per share. This dividend will be payable on January 14, 2022, to shareholders who are on record as of December 31, 2021. NewLake focuses on providing real estate capital to state-licensed cannabis operators, owning a portfolio of 27 cultivation facilities and dispensaries.
NewLake Capital Partners has announced that Anthony Coniglio, President and Chief Investment Officer, will participate in the CannaVest West Third Annual Cannabis Investment Forum in San Francisco, CA on December 16-17, 2021. Coniglio will speak on the panel titled “Public vs. Private Cannabis Real Estate Investment Opportunities: Is the Juice Worth the Squeeze?” on December 16, from 4:15 PM to 5:00 PM PT. NewLake specializes in providing real estate capital to state-licensed cannabis operators through various transactions, owning a portfolio of 27 cannabis-related properties.
NewLake Capital Partners reported third quarter 2021 revenue of $8.1 million, marking a 22% sequential increase and 135% year-over-year growth. The net income attributable to common stockholders reached $2.7 million, or $0.14 per share. Funds from operations (FFO) were $5.2 million, and adjusted funds from operations (AFFO) totaled $6.0 million. Following a successful IPO that raised $102 million in August, the company deployed $30 million for a new investment. The portfolio comprises 27 properties across 10 states, with ongoing commitments to tenant improvements.
NewLake Capital Partners (OTCQX: NLCP) announced a nine-month senior secured loan to Hero Diversified Associates (HDAI), a state-licensed medical marijuana grower in Pennsylvania. The loan includes a first-lien mortgage on HDAI’s facility and will convert to a 20-year sale leaseback unless specific conditions are met by August 1, 2022. CEO David Weinstein expressed enthusiasm for this partnership, highlighting the tailored financial structure provided to HDAI for its growth.
NewLake Capital Partners, a real estate investment trust focused on state-licensed cannabis operators, is set to report its third quarter 2021 financial results on November 12, 2021, at 8:30 a.m. ET. This call will discuss earnings for the period ending September 30, 2021. Investors can join via a live call or webcast, with a replay available until November 26, 2021. The company currently owns a portfolio of 27 cannabis-related properties, leased on a triple-net basis, highlighting its commitment to the cannabis real estate market.
NewLake Capital Partners (NLCP) celebrated a significant milestone by ringing the opening bell at the OTC Markets Group, highlighting its commitment to the cannabis sector's growth. CEO David Weinstein expressed gratitude for the invitation, emphasizing the company's dedication to meeting the increasing capital demands of state-licensed cannabis operators. NewLake specializes in providing real estate capital through sale-leaseback transactions and owns a portfolio of 27 cannabis cultivation facilities and dispensaries leased on a triple-net basis.
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