0000000000-24-013858.txt : 20250305 0000000000-24-013858.hdr.sgml : 20250305 20241217093608 ACCESSION NUMBER: 0000000000-24-013858 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20241217 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: NewLake Capital Partners, Inc. CENTRAL INDEX KEY: 0001854964 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 834400045 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD SEC FILE NUMBER: 000-56327 BUSINESS ADDRESS: STREET 1: 50 LOCUST AVENUE CITY: NEW CANAAN STATE: CT ZIP: 06840 BUSINESS PHONE: 203.594.1402 MAIL ADDRESS: STREET 1: 50 LOCUST AVENUE CITY: NEW CANAAN STATE: CT ZIP: 06840 PUBLIC REFERENCE ACCESSION NUMBER: 0001854964-24-000007 LETTER 1 filename1.pdf begin 644 filename1 M)5!$1BTQ+C<*)>+CS],*-2 P(&]B:@H\/"]&:6QT97(O1FQA=&5$96-O9&4O M3&5N9W1H(#$R.#@^/G-TN=)HEXE$*B3EA?(9_8)\:H>4M';LV+L%:@,2J!6'9\XY,Z,O05J& MX/[+E!49Y"FC2YY#U06OWW41O%7!7\&7X,UM\/HR@BB&VR9(LF)Z-V2TKH-7 M;['";H,:HF(%<1BG/]]^"GZ]?;HS+UE,&\.2I7[C>V$X_($CZI=W9.N8)9G? 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MI",&[@&L&R,+;T/15\L M%J1-HI#8&-\VB_I8WC9!%S,DPI;5:!P%R8+C1AOZYL46OFHL0UB&Q^Z<)F7Z MA+ TIN;K1-6I DX]3:PU&MUF8U.Q86BZ*+NN)AL=,NSAANS>K(KZ^]-!HN&X MG#L7J[&368KS2VI0=$*?4V;M1+"RR+RKV'4TMQ!U#CF9$$=$1$1$1$1^-H0= MV)*/6XX[W.7D<2')E9@HP(#$T"C P,# P,# P,# @-C4U,S4@9B *,# P,# P,C(W,2 P,# P M,"!N( HP,# P,# R.#F4@,30^ M/@HE:51E>'0M0V]R92TW+C(N- HE:51E>'0M<&1F2%1-3"TT+C N- IS=&%R 2='AR968*,C@W,3 *)25%3T8* end TEXT-EXTRACT 2 filename2.txt December 17, 2024 Lisa Meyer Chief Financial Officer, Treasurer & Secretary NewLake Capital Partners, Inc. 50 Locust Ave First Floor New Canaan, CT 06840 Re: NewLake Capital Partners, Inc. Form 10-K for the fiscal year ended December 31, 2023 Response dated September 3, 2024 File No. 000-56327 Dear Lisa Meyer: We have reviewed your September 3, 2024 response to our comment letter and have the following comment. Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe the comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Unless we note otherwise, any references to prior comments are to comments in our August 22, 2024 letter. Form 10-K for the fiscal year ended December 31, 2023 Notes to Consolidated Financial Statements Note 2 - Basis of Presentation and Summary of Significant Accounting Policies Revenue Recognition, page F-10 1. We note your response to our prior comment 1 and the company s position that it will not adjust its cash basis of accounting for leases in its portfolio until cannabis is federally legalized and regulatory uncertainty is alleviated. With a view towards enhanced disclosure, please describe in further detail the process the company performs at lease commencement and on an ongoing basis in assessing collectability of lease payments, including a description of all the factors the company considers in making its determination. As part of your discussion, please clarify whether the company views the federal regulatory uncertainty of the cannabis industry, including December 17, 2024 Page 2 that cannabis remains illegal under federal law, as the single, determinative factor in its assessment of collectability of lease payments. Please contact Babette Cooper at 202-551-3396 or Jennifer Monick at 202-551-3295 if you have questions regarding comments on the financial statements and related matters. Sincerely, Division of Corporation Finance Office of Real Estate & Construction