NewLake Capital Partners Expands Real Estate Partnership and Closes on Cultivation and Processing Facility with The Mint in Arizona
NEW CANAAN, Conn., July 07, 2021 (GLOBE NEWSWIRE) -- NewLake Capital Partners, Inc. (NewLake), a leading provider of real estate capital to state-licensed cannabis operators, today announced the acquisition of a parcel of land for the construction of a 130,757-square-foot cultivation and processing facility in Phoenix, Arizona.
- NEW CANAAN, Conn., July 07, 2021 (GLOBE NEWSWIRE) -- NewLake Capital Partners, Inc. (NewLake), a leading provider of real estate capital to state-licensed cannabis operators, today announced the acquisition of a parcel of land for the construction of a 130,757-square-foot cultivation and processing facility in Phoenix, Arizona.
- Concurrent with the closing of the acquisition, NewLake entered into a long-term, triple-net lease agreement with The Mint, a vertically integrated multi-state cannabis operator based in Tempe, Arizona, which intends to operate the property as a licensed cultivation and processing facility.
- NewLake is a leading provider of real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases, as well as funding for build-to-suit projects.
- NewLake has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.