secwatch.observer — SEC 8-K summary
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Issuer:     Power REIT (PW)
CIK:        0001532619
Form:       8-K
Filed at:   2022-07-18T23:59:59+00:00
Accession:  0001493152-22-019584
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Power REIT secures CO letter for Michigan cannabis facility; license application submitted
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- Obtained Certificate of Occupancy letter from Marengo Township on July 8, 2022, after litigation.
- Complete cannabis license application now submitted to Michigan Cannabis Regulatory Agency.
- Property is 556,000 sq ft greenhouse; deemed largest cannabis facility in Michigan.
- Annual straight-line rent is $5.12M, implying $0.38/quarter Core FFO per share (vs $0.40 in Q1 2022).
- Rental income not currently recognized due to licensing uncertainty; lease amended to push rent to Q1 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1532619/000149315222019584/0001493152-22-019584-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1532619/000149315222019584/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-019584

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