secwatch.observer — SEC 8-K summary
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Issuer:     Power REIT (PW)
CIK:        0001532619
Form:       8-K
Filed at:   2021-09-09T23:59:59+00:00
Accession:  0001493152-21-022261
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1532619/000149315221022261/0001493152-21-022261-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1532619/000149315221022261/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-022261

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