March 26, 2021
Hunton Andrews Kurth LLP represented NewLake Capital Partners, Inc., in its combination with GreenAcreage Real Estate Corp. to create one of the cannabis industry’s largest real estate investment trusts.
The combined company created by the merger, which closed on March 18, will operate as NewLake Capital Partners. It owns a diversified portfolio of 24 industrial and retail properties across nine states, with $325 million of combined assets and more than $110 million in cash to pursue further investments and real estate portfolio diversification.
NewLake Capital Partners’ portfolio tenants include major cannabis industry companies including Curaleaf Holdings Inc., Cresco Labs Inc., Columbia Care Inc. and Trulieve Cannabis Corp. The tenants are involved across the cannabis supply chain, including in cultivation, manufacturing and retail.
The Hunton Andrews Kurth team representing NewLake was led by M&A practice co-head Steven M. Haas and REIT capital markets partner Robert K. Smith, and also included Kendal A. Sibley, Emily E. Cabrera, James A. Kennedy, Chelsea Lomprey, Charles L. Brewer and Patrick C. Tricker.