Power REIT Expands Greenhouse Property for Cannabis Cultivation and Processing in Colorado
Power REIT (MD) (PW)
NASDAQ:AMEX Investor Relations:
pwreit.com/?page_id=11
Company Research
Source: GlobeNewswire
Old Bethpage, New York, May 01, 2020 (GLOBE NEWSWIRE) -- Power REIT (NYSE-AMEX: PW) (“Power REIT” or the “Trust”) today announced that it has entered into an agreement for a 5,040 square-foot greenhouse expansion for the cultivation of cannabis at its southern Colorado property (“Maverick 5”), which is owned by a wholly owned subsidiary of the Trust. Power REIT’s investment in the expansion is $340,000 and the lease amendment is structured to provide additional straight-line annual rent of approximately $63,000, representing an estimated yield of over 18%. Power REIT acquired Maverick 5 on March 19, 2020 for $150,000. As part of the acquisition, the Trust agreed to fund the immediate construction of 5,040 square feet of greenhouse space and 4,920 square feet of head-house/processing space. This project is currently under construction and anticipated to be completed by mid-July 2020. David Lesser, Power REIT’s Chairman and CEO, commented, “We are pleased that the initial Maverick 5
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News
- Power REIT (NYSE: PW) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Power REIT (NYSE: PW) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Power REIT (NYSE: PW) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Power REIT (NYSE: PW) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Power REIT Receives Audit Opinion with Going Concern Explanation [Yahoo! Finance]Yahoo! Finance
PW
Sec Filings
- 3/29/24 - Form 10-K
- 3/29/24 - Form 8-K
- PW's page on the SEC website