NewLake Capital Partners

NewLake Capital Partners is an internally managed real estate investment trust founded in 2019 and public since 2021; its shares trade on the OTCQX as NLCP. It is based at 50 Locust Avenue in New Canaan, Connecticut. Anthony Coniglio is president and chief executive, Lisa Meyer is chief financial officer and Niki Krear is vice president of acquisitions; Gordon DuGan chairs the board. Its second-quarter 2026 release, dated August 5, 2026, describes a portfolio of 35 properties, 15 cultivation facilities and 20 dispensaries, mostly leased to single tenants on triple-net terms. The company's What We Do page gives 34 properties across 12 states and about $445 million of invested and committed capital without a date.

NewLake buys property three ways: sale-leasebacks from operators that own their buildings, purchases from third parties, and funding for build-to-suit projects, plus expansion capital on buildings it already owns. Its site says the sale-leaseback model supports leases of 15 to 20 years. Recent activity shows the range: two Ohio dispensaries bought in 2025, improvement allowances on an Ohio store, and in August 2026 a Kentucky dispensary bought for about $0.6 million with roughly $1.6 million committed for improvements. Gross real estate assets stood at $433.2 million at June 30, 2026.

Operators start through the contact page; NewLake does not publish rents or lease terms. Its second-quarter release reports full collection of contractual rent, but also three properties that became available for lease during 2025, and a tenant, The Cannabist Company, operating four of its Illinois and Massachusetts properties while in Canadian restructuring proceedings. NewLake declared a third-quarter 2026 dividend of $0.43 per share. The homepage line describing the portfolio as 100 percent leased predates those vacancies, so the release figures are used here.