New Cannabis Real Estate Company NewLake Raises $85.5 Million
Summary
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 of the largest, non-captive, initial capital raises in the cannabis real estate industry, NewLake is focused on serving a diverse group of high-quality cannabis companies.We are excited to serve the real estate needs of this high-growth industry, commented Anthony Coniglio, CEO of NewLake. We have assembled a world class team of professionals that are highly experienced in real estate, cannabis and capital markets. Our Board and Management team bring over 150 years of experience from highly successful companies such as GTI, Pearlmark, Innovative Industrial Properties, CBRE, Equity Group Investments, Prologis, Meridian Capital, JPMorgan, The Carlyle Group and Goldman Sachs. Additionally, our Board has significant public company experience having served as Directors of Starwood Hotels & Resorts, Marriot Vacations, Atlas Resource Partners and Green Thumb Industries.NewLakes differentiated strategy is to serve the needs a diversified group of cannabis operators across the many property types important to execute their business strategy, our team is in dialogue with many of the top multi-state operators and we look forward to being a trusted partner to our clients, while building a diversified portfolio of quality tenants and properties.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.