NewLake Announces $85.five Million Capital Raise For Newly Formed True Estate Business
CHICAGO, Sept. 12, 2019 /PRNewswire/ — NewLake Capital Partners, Inc. announced nowadays that it closed a private placement of $85.five million in Preferred Stock, with the 1st draw of capital obtaining occurred August 28, 2019. NewLake is a newly formed, internally managed, Maryland corporation focused on acquiring specialized industrial and retail properties to be leased to state-licensed cannabis operators. With one particular of the biggest, non-captive, initial capital raises in the cannabis actual estate market, NewLake is focused on serving a diverse group of higher-top quality cannabis firms.
“We are excited to serve the actual estate desires of this higher-development market,” commented Anthony Coniglio, CEO of NewLake. “We have assembled a globe class group of pros that are extremely skilled in actual estate, cannabis and capital markets. We are thrilled to be partnered with profitable entrepreneurs in cannabis and actual estate such as Peter Kadens, Former CEO of Green Thumb Industries Stephen Quazzo, Founder and CEO of Pearlmark and Al Goldstein, Founder and CEO of Avant. Our Board and Management group bring more than 150 years of encounter from extremely profitable firms such as GTI, Pearlmark, Revolutionary Industrial Properties, CBRE, Equity Group Investments, Prologis, Meridian Capital, JPMorgan, The Carlyle Group and Goldman Sachs. In addition, our Board has substantial public firm encounter obtaining served as Directors of Starwood Hotels & Resorts, Marriot Vacations, Atlas Resource Partners and Green Thumb Industries.”
NewLake’s differentiated technique is to serve the desires a diversified group of cannabis operators across the lots of house forms significant to execute their organization technique, our group is in dialogue with lots of of the best multi-state operators and we appear forward to getting a trusted companion to our customers, although creating a diversified portfolio of top quality tenants and properties.
Anthony Coniglio, CEO of NewLake
About NewLake Capital Partners, Inc.
NewLake is a newly formed, internally managed, Maryland corporation focused on acquiring specialized industrial and retail properties to be leased to state-licensed cannabis operators. NewLake intends to elect to be taxed as a actual estate investment trust for U.S. federal earnings tax purposes after it meets all applicable criteria.
This press release shall not constitute an supply to sell or a solicitation of an supply to get the Preferred Stock or any other securities and shall not constitute an supply, solicitation or sale in any state or jurisdiction in which such an supply, solicitation or sale would be unlawful.
Speak to Info:
Anthony Coniglio, CEO
Original press release