---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-21-022261"
form_type: "8-K"
ticker: "PW"
cik: "0001532619"
company_name: "Power REIT"
filed_at: "2021-09-09T23:59:59+00:00"
generated_at: "2026-06-29T04:49:23.393293+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Power REIT closes $18.4M acquisition of 556K sq ft Michigan cannabis greenhouse; 20-year lease with 14.7% yield

## Summary
- Acquired 61-acre, 556,146 sq ft cannabis greenhouse for $18.4M; largest acquisition to date.
- Entered 20-year triple-net lease with Millennium Cannabis subsidiary; includes two five-year renewal options.
- Lease provides straight-line annual rent ~$4.3M; 14.7% yield escalating at 3% annually after capital return period.
- Agreed to fund ~$3M in capital improvements for light deprivation, propagation, and site upgrades.
- Forward Core FFO run rate of $3.59/share based on in-place transactions; management expects non-dilutive capital for further growth.

## SEC filing metadata
- accession: 0001493152-21-022261
- form_type: 8-K
- ticker: PW
- cik: 0001532619
- company_name: Power REIT
- filed_at: 2021-09-09T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1532619/000149315221022261/0001493152-21-022261-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1532619/000149315221022261/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-21-022261
- JSON: https://secwatch.observer/filing/0001493152-21-022261.json
- Plain text: https://secwatch.observer/filing/0001493152-21-022261.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.