NewLake Capital Partners (NLCP) - Hoya Hotseat

Hoya Capital

NewLake Capital Partners (NLCP) - Hoya Hotseat In the News All NLCP Dec 26 Written By Alex Pettee, CFA Hoya Capital NewLake Capital Partners (NLCP) is an internally managed REIT that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases for build-to-suit projects. NewLake owns a portfolio of 32 cultivation facilities and dispensaries that are leased to single tenants on a triple-net basis. NewLake CEO Anthony Coniglio joins the Hoya Hotseat to discuss the growth of the legal cannabis industry, the opportunity for REITs in providing capital to cannabis operators, the recent cash flow struggles among some cannabis operators, and the long-term outlook for the broader cannabis industry.

Continue reading ▶︎ Interviews Press All Hoya Hotseat NLCP Alex Pettee, CFA Transcript we're an internally managed net lease reat focused exclusively on the Cannabis sector and that's the state legal cannabis industry our strategy is to provide real estate Capital to this burgeoning cannabis industry for properties used for cultivation and Retail we're founded in 2019 we went public in 2021 and our ticker is nlcp new Lake Capital Partners we own 32 properties across 12 states with 13 tenants our tenants are some of the leading operators in the industry names like a true Leaf Cresco or Cur Leaf uh among those 32 properties we have 15 cultivation facilities 17 dispensaries and if you measure it by the amount of capital we've put out roughly 92% of our capital is in the cultivation facilities because they're obviously much larger than a retail facility would be we've invested over $430 million we have a rated average remaining lease term of uh 14 years and we have a weighted average uh yield across the portfolio of of 11.7% we've grown our quarterly dividend by over 70% since our IPO in 2021 and recently when we announced an increase to 43 cents a share for the second quarter ...