Cannabis REIT on Main Stage: A Sign of Real Estate Industry Maturation

NEW YORK, NY – March 16, 2026 – In a move that signals a significant convergence between a niche, high-growth sector and the institutional real estate world, Anthony Coniglio, CEO of cannabis-focused REIT NewLake Capital Partners, Inc. (OTCQX: NLCP), is set to take a prominent seat on a mainstream investment panel. On March 31st, Coniglio will join a group of industry heavyweights at the prestigious GlobeSt. Net Lease Spring 2026 conference in New York City.

His participation on the panel, titled “A Conversation with REITs: Investment Conversation Opportunities Across Sectors,” is more than just a speaking engagement; it's a marker of the increasing normalization and institutional curiosity surrounding the cannabis real estate sector. Coniglio will share the stage with executives from traditional real estate powerhouses and financial institutions, including Kroll, The Boulder Group, Essential Properties Realty Trust, and J.P. Morgan. The discussion is slated to cover navigating market volatility and identifying new sector opportunities—topics for which the cannabis industry provides a unique and compelling case study.

Bridging the Gap: Cannabis Enters the Mainstream

The GlobeSt. Net Lease Spring conference is a premier event, attracting a C-suite audience of the nation's most active developers, lenders, and investors. For a CEO whose company specializes in providing capital to state-licensed cannabis operators, an industry still federally illegal, this invitation represents a pivotal moment. It suggests that the consistent performance and unique demand drivers of cannabis real estate are beginning to outweigh the perceived risks and regulatory complexities that have historically kept it on the periphery of institutional investment.

NewLake Capital operates by acquiring industrial cultivation facilities and retail dispensaries, leasing them back to cannabis operators on long-term, triple-net lease agreements. This sale-leaseback model is a critical financial lifeline for cannabis companies, which are often barred from traditional banking and lending services due to federal prohibition. By providing this essential capital, REITs like NewLake have become the de facto real estate bankers for a multi-billion-dollar industry.

Coniglio's presence on the panel allows him to articulate this value proposition to a new, influential audience. The discussion will place the specific dynamics of cannabis real estate—its recession-resistant demand, limited-license state advantages, and unique growth trajectory—in direct comparison with more traditional net lease assets. It serves as an educational opportunity, demystifying the sector and highlighting its potential for portfolio diversification and resilience in a shifting economic landscape.

A Resilient Niche in a Volatile Market

The panel's focus on navigating market volatility is particularly timely. While the broader REIT sector grapples with interest rate sensitivity and economic uncertainty, NewLake Capital offers a compelling narrative of stability. The company recently reported its full-year 2025 financial results, showing steady performance with revenues reaching $51.1 million and an Adjusted Funds From Operations (AFFO) of $43.8 million. Perhaps most impressively, the company maintains an exceptionally strong balance sheet with a debt-to-total-gross-assets ratio of just 1.6% as of year-end 2025.

This financial discipline is crucial in a cannabis industry that has faced its own headwinds, including price compression in mature markets and what NewLake's leadership has termed “tenant dislocations.” Despite these challenges, NewLake has maintained a high-quality portfolio of 34 properties and continues to pay a consistent dividend, with a first-quarter 2026 dividend of $0.43 per share declared. This performance underscores a key argument for cannabis real estate: the essential nature of the underlying assets provides a durable income stream, even amidst industry-specific and macroeconomic pressures.

However, the market is not without its complexities. Following its latest earnings report, NewLake’s stock saw a minor dip, reflecting broader investor caution around the cannabis sector. This highlights the ongoing tension between strong operational fundamentals and the persistent regulatory overhang, a key topic Coniglio is expected to address.

The Future of Capital in a Complex Landscape

The growth of the U.S. cannabis industry is undeniable, with total economic impact projected to exceed $112 billion in 2024. This expansion fuels a voracious demand for specialized real estate, from sophisticated cultivation facilities to prime retail locations. Yet, the path to securing capital remains fraught with obstacles. The federal illegality of cannabis and the punitive effects of IRS tax code Section 280e, which prohibits normal business deductions, create a challenging financial environment for operators.

This is where REITs like NewLake have carved out their indispensable role. They are not merely landlords but essential growth partners, providing the capital necessary for operators to expand operations, upgrade facilities, and enter new state markets. The sale-leaseback transaction allows an operator to unlock the value of their real estate, converting it into working capital to fuel core business growth.

Coniglio’s discussion alongside panelists from J.P. Morgan and other major firms will illuminate the stark contrast in capital availability between mainstream industries and cannabis. It also points toward a future where this gap may narrow. Any federal reform, from banking access via the SAFER Banking Act to full rescheduling or legalization, would dramatically reshape the landscape, potentially inviting traditional lenders and a flood of institutional capital. For now, specialized REITs remain the dominant players, leveraging their deep industry expertise to navigate the complex regulatory patchwork and underwrite opportunities that others cannot.