NewLake Capital Partners provides $ 30 million to Hero

NEW CANAAN, Connecticut, November 04, 2021 (GLOBE NEWSWIRE) – NewLake Capital Partners, Inc. (OTCQX: NLCP) (“The Company” or “NewLake”), a leading provider of real estate capital to cannabis operators, today announced that it has provided a nine-month senior secured loan to Hero Diversified Associates, Inc. (“HDAI”), which owns a state-licensed producer and processor of medical marijuana in Pennsylvania. The loan security includes a first mortgage on the growing and processing facility located in Erie, PA, as well as other HDAI assets. The loan is structured to convert to a twenty-year sale-leaseback, unless a specific provision of the loan agreement is satisfied by August 1, 2022.

“We are delighted to partner with HDAI, providing capital to support the continued growth of their business,” said David Weinstein, CEO of NewLake Capital Partners. “Our structured approach was designed to meet HDAI’s needs and provided HDAI with financial flexibility. “

About NewLake Capital Partners, Inc.
NewLake Capital Partners, Inc. is an in-house managed real estate investment trust that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions, third-party purchases and financing of tailor-made construction projects. NewLake has a portfolio of 27 grow facilities and dispensaries used in the cannabis industry which are leased to single long-term tenants. For more information, please visit

About Hero Diversified Associates, Inc.
HDAI is a privately held company that owns, among other assets, a 100% interest in a licensed producer-processor in Pennsylvania.

Forward-looking statements
This press release contains “forward-looking statements”. Forward-looking statements may be identified by words such as “may”, “will”, “likely”, “should”, “expect”, “anticipate”, “future”, “plan”, “believe”, “Intend”, “objective”, “project”, “continue” and similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based solely on our current beliefs and expectations. Forward-looking statements, including statements regarding timing of settlement and the use of the proceeds of the initial public offering, are based on the Company’s current expectations and assumptions regarding capital market conditions, trading activities, society, economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are beyond our control. Our actual results may differ materially from those shown in forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in forward-looking statements include, among other things, changes in the condition of the US economy and, in particular, the US real estate market.

Contact details:
Antoine Coniglio
President and Chief Investment Officer
NewLake Capital Partners, Inc.
[email protected]

Investor contact:
Valter Pinto, Managing Director
KCSA strategic communication
[email protected]
Telephone: (212) 896-1254

Media contact:
Mckenna miller
KCSA strategic communication
[email protected]
Telephone: (212) 896-1254

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