secwatch.observer — SEC 8-K summary
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Issuer:     Power REIT (PW)
CIK:        0001532619
Form:       8-K
Filed at:   2022-04-01T23:59:59+00:00
Accession:  0001493152-22-008748
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Power REIT acquires 1.1M sq ft tomato greenhouse for $9.35M; 10-year lease yields ~11%
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- Acquired 1,121,513 sq ft greenhouse in O'Neill, NE for $9.35M; includes employee housing.
- 10-year triple-net lease with Millennium Produce (MILC sub); $1.0M annual rent, ~11% unleveraged Core FFO yield.
- Capital improvements of ~$534K funded; property had been operational for 15 years.
- CEO David Lesser is also CEO of MILC (related-party transaction).
- Forward Core FFO run rate $0.83/quarter per share based on in-place deals; stock at 12.4x multiple.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1532619/000149315222008748/0001493152-22-008748-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1532619/000149315222008748/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-008748

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