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POWER REIT

(PW)
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Power REIT Acquires 556,146 Square Foot Cannabis Greenhouse Cultivation and Processing Facility for $18.4 Million in Highly Accretive Transaction

09/09/2021 | 11:11am EDT

Power REIT announced that it has closed on its previously announced greenhouse cultivation facilityacquisition in Marengo Township, Michigan (the “Property”) through a wholly owned subsidiary (“PropCo”). The Property is comprised of approximately 556,000 square feet and is located in the “Marijuana Overlay District” of Marengo County which allows for unlimited cannabis cultivation licenses. The 61-acre property has existing plans in place to add 330,236 square feet and has additional land available for further expansion. The “Dutch Venlo Style” greenhouse is 26 feet tall which helps control the growing environment. The diffused glass roof is beneficial to plant growth and allows greater plant density. The greenhouse features advanced cultivation controls and a best-in-class irrigation/fertigation system. There are also two large, multi-functional boilers that heat and help dehumidify the greenhouse and also provide the crop with enhanced CO2 levels to improve plant yields. There is a 1-million-gallon hot water storage tank that allows the boilers to run during the day to provide enhanced CO2 to the plants for photosynthesis, but then use the stored heat at night or as otherwise needed. The greenhouse also includes an exceptional irrigation system with 500,000 gallons of feed tanks that can water the entire greenhouse in under 20 minutes. The irrigation system is configured with 12 different feed zones. This allows for precision crop feeding targeting each zone based on the plant growth stage and cultivar. This facility is labor-efficient with an under-bench radiant heating system that acts as a dual-purpose rail system for carts and other equipment to enhance labor efficiency.


ę S&P Capital IQ 2021
All news about POWER REIT
09/09POWER REIT : Acquires 556,146 Square Foot Cannabis Greenhouse Cultivation and Processing F..
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09/09POWER REIT : Entry into a Material Definitive Agreement, Completion of Acquisition or Disp..
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09/09PropCo Enters 20-Year Triple-Net Lease with Marengo Cannabis LLC
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09/09Power REIT Acquires 556,146 Square Foot Cannabis Greenhouse Cultivation and Processing ..
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09/09POWER REIT (NYSEAM : PW) completed the acquisition of 556,146 Square Foot Cannabis Greenho..
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Financials (USD)
Sales 2021 9,71 M - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 4,13%
Capitalization 156 M 156 M -
Capi. / Sales 2021 16,1x
Capi. / Sales 2022 10,6x
Nbr of Employees 3
Free-Float 68,3%
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Mean consensus BUY
Number of Analysts 1
Last Close Price 47,00 $
Average target price 63,00 $
Spread / Average Target 34,0%
Managers and Directors
David H. Lesser Chairman-Trustees Board, CEO, CFO & Secretary
Virgil E. Wenger Independent Trustee
Patrick R. Haynes Independent Trustee
William S. Susman Independent Trustee
Paula Jean Poskon Independent Trustee
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