Power REIT (PW): M&A transaction — Power REIT sells ground lease interest in Salisbury solar farm for $1.2M

Power REIT

Gross proceeds of $1.2 million from sale of ground lease interest in utility-scale solar farms in Salisbury, Mass.
Purchaser is unaffiliated; price determined by arm's length negotiation.
Sale is part of strategic review; company focused on controlled environment agriculture (greenhouses) and cannabis.
Cannabis wholesale market pressures have significantly impacted tenant cash flows; additional asset sales possible.

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 0.95

Power REIT completed a disposition involving an unaffiliated third party for $1.2 million (closed 2024-01-30).

Action: disposition
Counterparty: an unaffiliated third party
Consideration: $1.2 million
Closing: 2024-01-30

Exact text from the filing

a wholly owned subsidiary of Power REIT sold its interest in a ground lease related to utility scale solar farms located in Salisbury, Mass. for gross proceeds of $1.2 million.

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Source: SEC EDGAR

accession 0001493152-24-004510

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