NewLake Capital Partners secures $30M revolving credit facility, expandable to $100M

NewLake Capital Partners, Inc.

Five-year facility with initial $30M commitment; can increase to $100M with additional lenders.
Fixed interest rate of 5.65% for first 3 years, then floating at Prime plus 1% (min 4.75%).
Covenants include minimum $1M liquidity and 1.50x debt service coverage ratio quarterly.
Borrowing base set at 50% of acquisition/improvement costs of eligible fee-owned properties.
First credit facility for the company; proceeds to fund investments in cannabis real estate.

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