UPD Holding Corp. announced that on January 14, 2021, the Company entered into a commercial lease of a Lexington, Kentucky building previously serving as a 150 room full service hotel and conference center. The Company intends to operate the Facility primarily as an in-patient substance abuse treatment center. More than half of the 150 rooms offer multiple-bed and multiple-occupant configurations. At approximately 90,000 square feet, the Facility is fully furnished and features a full-service restaurant and catering kitchen, an indoor pool and whirlpool, a fitness room, a breakfast dining area, a multi-configurable 4,784 square foot conference and ballroom space, and approximately 205 parking spaces. The Facility was built in 1975 and underwent significant renovations in 2014 and 2020. It is conveniently located less than 9 miles from downtown Lexington, 16 miles from Blue Grass Airport, 38 miles from Frankfort, Kentucky, 85 miles from Louisville, Kentucky, and 90 miles from Cincinnati, Ohio. The base term of the Lease is five years, commencing as of January 14, 2021, with options to renew the Lease for two additional five-year terms. Under the terms of the Lease, a portion of the rent is being abated for up to 6 months while certain improvements are made and permits, and licenses are secured. If the Company is unable to obtain these permits and licenses, it can elect to terminate the Lease during the six-month period.