PW - Power REIT to fund energy efficiency improvements at its Greenhouse in York County

Power REIT (NYSE:PW) entered into a lease amendment for funding additional capital improvements to its existing greenhouse cultivation property in York County Maine. The facility is leased to a leading vertically integrated cannabis company in Maine. Post the amendment, Power REIT will fund the installation of a highly energy efficient onsite power generation and cooling system. The company's total capital commitment related to these improvements is ~$3.5M thereby increasing the straight-line annual rent by ~$654K (representing an ~19% unleveraged core FFO yield).

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Power REIT to fund energy efficiency improvements at its Greenhouse in York County