Power REIT (PW): M&A transaction — Power REIT sells five CA solar ground leases for $2.5M; cites cannabis tenant pressures

Power REIT

Sold five ground leases on utility solar farms in Tulare County, CA for $2.5M gross to unaffiliated third party.
Properties originally acquired in 2013 for $1.55M; sale part of strategic liquidity review.
Shifting focus to Controlled Environment Agriculture (greenhouses) with significant cannabis cultivation tenant exposure.
Wholesale cannabis market changes pressuring tenants; exploring additional asset sales to enhance shareholder value.

item 2.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Power REIT completed a disposition for $2.5 million (closed 2023-01-06).

Action: disposition
Consideration: $2.5 million
Closing: 2023-01-06

Exact text from the filing

On January 6, 2023, a wholly owned subsidiary of Power REIT sold its interest in five ground leases related to utility scale solar farms located in Tulare County, California for gross proceeds of $2.5 million.

View on SEC.gov

32 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Power REIT filing history →

Source: SEC EDGAR

accession 0001493152-23-000875

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.