NewLake Capital Partners, Inc. announces an Increase in Equity Buyback.
September 14, 2023
Share
On September 15, 2023, the company announced an increase in its equity buyback plan. The company increased its authorization by an additional amount of $10 million, thereby increasing the total plan term monetary value authorization to $20 million and also extended its plan duration till December 31, 2024.
NewLake Capital Partners, Inc. is an internally-managed real estate investment trust that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases and funding for build-to-suit projects. The Company supplies necessary real estate capital primarily to companies that cultivate, produce and/or dispense cannabis. The Company owns a portfolio of approximately 31 properties comprised of 14 cultivation facilities and 17 dispensaries. The Company's properties are leased to single tenants on a long-term, triple-net basis, which obligates the tenant to be responsible for the ongoing expenses of a property, in addition to its rent obligations. Its properties are located in Florida, Pennsylvania, Illinois, Massachusetts, Missouri, Nevada, Arizona, California, Ohio, North Dakota, Arkansas and Connecticut.
NEWLAKE CAPITAL PARTNERS, INC. 
